Earlier this spring (March 22), the Russian government adopted the “Long-Term Program on the Development and Production of LNG” (Government.ru, March 22). The document highlights the strategic role of the Arctic region in the pursuit of Russia’s main goal—gaining a 20 percent share in the global liquefied natural gas (LNG) industry by 2035. This goal was reiterated in June by…
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A cargo ship that beached at Karachi’s Sea View early on Wednesday after it lost its anchors due to rough weather remained at the beach on Thursday as authorities were yet to take action. According to the Karachi Port Trust (KPT), MV Heng Tong, a cargo ship coming from Shanghai was on its way to Istanbul, Turkey, and did not…
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Recently, there have been reports that the fear of the National Accountability Bureau (NAB) may force the government to back out of its deals with power companies set up under the 2002 power policy. The purpose is to renegotiate their ‘renegotiated’ power purchase agreements (PPAs) to deduct the alleged excess payments made to the 12 independent power producers (IPPs) from…
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Oil Marketing Association Pakistan (OMAP) on Tuesday called for an end to the witch hunt of the oil marketing companies saying it was increasingly becoming difficult for them to operate under the current circumstances. OMAP Chief Executive Officer Ilyas Fazil in a letter to Federal Minister for Energy Hammad Azhar appealed for an end to the spate of enquiries against…
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The Oil Marketing Association Pakistan (OMAP) on Tuesday called for an end to the witch-hunt of the oil marketing companies (OMCs) saying it was increasingly becoming difficult for them to operate under the current circumstances. OMAP Chief Executive Officer Dr Ilyas Fazil in a letter to Energy Minister Hammad Azhar appealed for an end to the spate of inquiries against…
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The Khyber Pakhtunkhwa Mines and Mineral Development department has increased its revenue collection by more than 150 per cent over the past two years. According to documents available with Dawn the mines and minerals department in 2018-19 had collected Rs2.1 billion, however, in 2019-20 its revenue collection soared to Rs3.2 billion and it touched Rs5.2 billion in the last fiscal.…
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Once known as the world’s largest liquefied natural gas (LNG) exporting country, Indonesia is transforming its LNG industry from its previous service as liquefaction plants only to the development of LNG receiving/regasification terminals or units. More than that, LNG products, which used to be entirely exported, are now absorbed mostly by domestic industries. There are three LNG liquefaction plants currently…
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The metals in the magnets are actually abundant, but can be dirty and difficult to produce. China has grown to dominate production, and with demand for the magnets on the rise for all forms of renewable energy, analysts say a genuine shortage may lie ahead. Some auto firms have been looking to replace rare earths for years. Now manufacturers amounting…
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Signs of recovery are gradually appearing. Exports grew around 18% in dollar value while imports rose around 26%. The imports outpacing exports resulted in a ballooning trade deficit of $31 billion. This is usual recovery story in a developing economy where imports normally exceed exports. Bourgeoning remittances of $29.4 billion played a major role in bridging the trade gap in…
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The gross refining margin of Byco Petroleum — a vertically integrated energy firm with its own floating jetty, refinery and oil marketing arm — is expected to double from $3 per barrel to $6 once it completes the ongoing upgrade process by 2025, according to company chairman Mohammad Wasi Khan. Speaking to a group of journalists at the company headquarters…
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