Motor Gasoline (Mogas) recorded highest-ever sale of 0.81 million tons in July 2021, which is 14 percent higher on year-on-year basis. This is 7 percent higher on month-on-month basis. This was on the back of rising car sales and increased demand from people travelling up North, analysts said. Furnace Oil (FO) sales also witnessed an increase of 54 percent on…
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he government has charged almost $2,960,000 (Rs473 million) illegally from LNG consumers in the last seven months in the name of margin of PLTL (Pakistan LNG Terminal Limited) despite its merger into Pakistan LNG Limited (PLL) on Jan 1, 2021. The PLTL Board of Directors has been abolished and there is no MD (Managing director) and CFO (Chief Financial Officer)…
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Financial firms, including British insurer Prudential, lenders Citi and HSBC and BlackRock Real Assets are devising plans to speed up the closure of Asia’s coal-fired power plants in order to reduce the biggest source of carbon emissions, five people with knowledge of the initiative said. The novel proposal, which is being driven by the Asian Development Bank, offers a potentially…
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Marine minerals are coming under sharp focus offshore Norway. Analysts suggest it could be a $20 billion annual revenue industry by 2050, which is why many are taking an interest and developing the technology to make it happen. Marine mineral mining has been something of a slow burner in the wider marine world. It has some clear challenges, not least…
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Khyber Pakhtunkhwa’s four 244.4 MW renewable and cheap electricity hydropower projects are stalled due to negligence of the Ministry of Energy (Power Division) and PESCO for the last three years. The projects are pending due to non-approval, notification, import certificates, and purchase agreement. Similarly, Pakhtunkhwa Energy and Development Organisation (PEDO) has an arrear of Rs7,147.604 million in electricity sales to…
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The National Electric Power Regulatory Authority (Nepra) has reserved its decision on the requests of K-Electric to increase tariff by Rs6.52 per unit on account of quarterly and monthly adjustments. However, it sought to reduce tariff by Rs1.50 per unit. The Karachi-based power utility had requested to allow an increase of around 37 paisa per unit in its normal tariff…
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Retired Lt Gen Asim Saleem Bajwa was on Tuesday replaced by Khalid Mansoor as the authority to lead the affairs of the China-Pakistan Economic Corridor. A notification issued by the Prime Minister’s Office said Mansoor had been appointed as Special Assistant to the Prime Minister on CPEC Affairs with immediate effect. The appointment will be in an honorary capacity, it…
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The Oil and Gas Regulatory Authority (Ogra) on Tuesday withdrew its notification from a day earlier that showed the purchase price of liquefied natural gas (LNG) cargo at $20.055 by the Pakistan State Oil (PSO), saying the petroleum corporation clarified it had scrapped the bid as it was ‘high’ and ‘unacceptable’. The withdrawal of the Ogra notification comes in the…
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The Sui Northern Gas Pipelines Ltd has taken strict notice of alleged involvement of some of its officers in disconnecting gas supply to textile mills and issuing frivolous notices to them on lame excuses and pretexts. “I assure you people of uninterrupted gas supply to export oriented industry. I will also take action against all delinquent officials resorting to disconnection…
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The government has decided in principle to provide uninterrupted gas supply to two Punjab-based fertiliser plants – Fatima and Agritech – on Sui Northern Gas Pipelines Ltd (SNGPL) network over the coming months to ensure sufficient local fertiliser production. The decision to this effect was reached at a meeting presided over by Finance Minister Shaukat Tarin to review the supply…
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