Pakistan and Iran have agreed on a barter deal to exchange rice and import liquified petroleum gas (LPG), announced Adviser to Prime Minister on Trade and Commerce Abdul Razak Dawood. Pakistan would import LPG from Iran in exchange of rice under the barter arrangement, a memorandum of understanding for which was signed during 9th Joint Trade Committee (JTC) meeting in…
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Spot freight rates for liquefied natural gas tankers in the Asia-Pacific have surged to record highs as a steady flow of U.S. cargoes to the region boosts demand for ships. The cost of chartering a vessel to carry a shipment of the super-chilled fuel from Australia to Japan spiked to $316,750 per day on Tuesday, five times higher than two…
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When a country’s economy is in shambles, it can hardly afford more conditions from the lenders; that’s what Pakistan is facing in dealing with the IMF. Adviser to the PM Shaukat Tarin has once again outlined the necessity to comply with five prior conditions that Pakistan must fulfil before the IMF calls a meeting of its board of directors to…
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President Joe Biden called on US regulators to look into the causes of the nationwide spike in gasoline prices, which he said is hurting workers. The president last week made fighting inflation a top priority after data showed consumer prices hit a 30-year high in October, fueling a slump in his public approval. In a letter to the Federal Trade…
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AIQ, the Abu Dhabi National Oil Company’s (ADNOC) artificial intelligence (AI) joint venture with Group 42 (G42), and Baker Hughes, an energy technology company, announced today a strategic collaboration agreement to develop advanced analytics solutions for the global oil and gas industry. The announcement was made at the Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC) and will see AIQ…
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A sub-committee of the federal cabinet on Energy headed by Planning and Development Minister Asad Umar Thursday announced to shut gas supply to CNG sector in order to overcome shortages to household consumers, ARY NEWS reported. During the meeting headed by Asad Umar, a detailed briefing was given on demand and supply of gas in the winter season along with…
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Chairman National Electric Power Regulatory Authority (NEPRA) Tauseef H Farooqi on Thursday urged the power sector companies to strive hard in improving their performance in the areas of Occupational Health, Safety and Environment (HSE). Addressing at award ceremony, the Chairman highlighted the significance of NEPRA’s drive of “Power with Safety”. He stressed that HSE issues were at the forefront of…
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The Cabinet Committee on Energy (CCOE) was informed on Thursday that the enhanced demand of domestic consumers would be met through savings from captive power generation. The meeting presided over by Federal Minister for Planning, Development, and Special Initiatives Asad Umar here was informed that the prudent pressure management plan would also be developed to ensure the stable supply of…
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mran Maniar, MD, SSGC has termed the Company’s participation in Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) as an extremely useful one. ADIPEC a premier energy sector event that concluded today in Abu Dhabi kicked if on November 15, 2021. It is hosted annually by Abu Dhabi National Oil Company (ADNOC). MD, SSGC said that finding new suppliers, probing…
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Oil and liquefied natural gas (LNG) prices could climb higher this winter as low inventories threaten supply disruption or demand shocks for the market, an official of Vitol (VITOLV.UL), the world’s top independent oil trader, said on Wednesday. Consumption of natural gas, coal and oil has surged as the global economy re-opens from COVID-19 curbs, leading to price spikes and…
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