The Management Association of Pakistan (MAP) has organised 36th Corporate Excellence Awards here at local hotel on Thursday. Addressing the awards ceremony, former chairman Federal Board of Revenue (FBR) Shabbar Zaidi said Pakistan is one of the countries which could achieve tremendous economic growth by reducing the size of corporate compliances. He said future of Pakistan lies on family owned…
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The Joint Technical Committee (JTC) of Pakistan and Russian on the Pak Stream Gas Pipeline (PSGP) concluded its fourth session here on Thursday, reaffirming their commitment towards the strategic project and to finalize the Share Holders Agreement (SHA) next monthThe Joint Technical Committee (JTC) of Pakistan and Russian on the Pak Stream Gas Pipeline (PSGP) concluded its fourth session here…
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The Oil & Gas Regularity Authority (OGRA) has proposed the development of large-scale storage for petroleum products similar to India and China to absorb abrupt price hikes in international market. The petroleum industry regulator presented a proposal to this effect in the meeting of Standing Committee on Cabinet. However, industry officials and analysts believe such a project is not only…
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Oil and Gas Development Company Limited (OGDCL) being operator of Jandran West Exploration License with 100 percent working interest has made a gas discovery over Mughalkot Formation from its exploratory efforts at Jandran West X-1 well which is located in Kohlu District, Balochistan province. Jandran West X-1 well was spudded on 19th May 2021 as an exploratory well and drilled…
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Coal-gas fuel-switching dynamics are pointing to different outlooks for coal burn this winter across different regions.In Europe, high gas prices imply coal demand should remain firm, while in northeast Asia relatively competitive oil-linked LNG costs suggest coal demand may face some headwinds. Higher gas prices and associated gas-to-coal switching dynamics have been a key driver behind coal demand growth in…
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Just a few weeks ahead of COP26, China, the world’s biggest public financier of coal, announced that it will end investments in overseas coal projects. It raised hope in countries that want to make low-carbon energy plans and panic among those who feel they cannot do without coal. The announcement could mean the cancellation of over 40 gigawatts (GW) of pipeline projects…
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The success of the three-day visit of Prime Minister Imran Khan to Saudi Arabia must be gauged by the Kingdom’s decision, communicated to Pakistan authorities a day after the Pakistani delegation’s return, to extend 3 billion dollar safe deposit support for one year (till the completion of the International Monetary Fund programme scheduled for September 2022) and 1.2 billion dollars…
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Canada’s new activist-turned-environment minister on Wednesday sought to reassure the nation’s oil sector — the fourth largest producer in the world — that he has no “secret agenda,” following pushback over his appointment. Steven Guilbeault, a prominent former climate activist tapped by Prime Minister Justin Trudeau for the role in a major post-election cabinet shuffle, spoke after a backlash by…
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Norwegian energy giant Equinor said Wednesday that soaring gas prices helped it more than double its revenue in the third quarter. Equinor, which is 67 percent owned by the Norwegian state, said that its net profit rose to $1.4 billion between July to September this year, compared to a loss during the same period in 2020, partly due to asset…
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Ministry of Energy (Power Division) on Wednesday expressed its inability to ensure required supply of Regasified liquefied Natural Gas (RLNG) – a cheap fuel compared to RFO to the power plants, until new LNG terminals are established. This stance was clearly communicated by Power Division’s team, led by Additional Secretary, CEO, Central Power Purchasing Agency-Guarantee (CPPA-G) Waseem Mukhtar at a…
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