According to SCA, the 6% hike year/year takes effect in early Feb. 2022. Cruise ship and LNG carrier tolls will remain at 2021 levels, the canal owner and operator stated. SCA Chairman Admiral Osama Rabea said that LNG carrier transit fees will remain at 2021 levels to align with recently approved action — effective Nov. 1 — to lower the toll…
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The US Geological Survey (USGS) is proposing both metals be included in the redrafted critical minerals list. The list has grown from 35 to 50 since the last iteration in 2018, but that largely reflects the splitting out of rare earth elements and precious group metals into separate entities. Four minerals – helium, potash, rhenium, and strontium – have been…
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Pakistan’s oil import bill soared nearly two-fold in the first four months of the current fiscal year, fueled largely by both higher global prices and increasing domestic demand. In the months (July-October FY2022) under review, fuel import bill registered almost 96 percent growth by going up to $6.197 billion compared to $3.168 billion in the same months in the last…
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Oil and gas will have a role to play in the energy system for decades to come, BP’s chief executive Bernard Looney said on Monday, adding that the industry should try to produce hydrocarbons with the lowest emissions possible. Any scenario, even the International Energy Agency’s Net-Zero by 2050 scenario, predicts that there will still be demand for oil in…
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The Ministry of Energy (Petroleum Division) has reportedly hinted at occasional disruptions in supply of gas/RLNG to exporters during the winter, due to increase in demand by domestic, power and fertilizer sectors, well informed sources told Business Recorder. These apprehensions were expressed at a recent meeting of federal cabinet during which concerns over under invoicing by the industry and misuse of…
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Special Assistant to Chief Minister (SACM) Punjab and Spokesperson for the Punjab Government Hasaan Khawar has said that without sincere cooperation of people, keeping environment clean will remain a dream only. Talking to the media at the office of Provincial Disaster Management Authority (PDMA) on Monday, he said people should play their role by registering complaints on the helpline 1716…
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The Cabinet Committee on Energy (CCOE) has directed the Oil and Gas Regulatory Authority (Ogra) to implement end-to-end automation and digitisation of reporting to record all transactions in future and have accurate data collection. The directive came in a CCOE meeting held on Thursday under the chairmanship of Federal Minister for Planning, Development and Special Initiatives Asad Umar. On the…
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National Transmission and Despatch Company (NTDC) has shared plans to procure disc insulator and hardware string costing €10.8 million for the 500-kilovolt SECL (Thar block-I) to Matiari double-circuit transmission line for evacuation of power from the 1,320-megawatt SECL Coal Power Plant. Speaking at a ceremony held to sign contract for the procurement of goods on Saturday, NTDC Deputy Managing Director…
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Amid heating up of political climate, the government on Monday approved Rs10 billion supplementary grants for Sustainable Development Goals Achievement Programme (SAP) for utilisation on the recommendations of ruling party parliamentarians. A formal decision to this effect was taken by the Economic Coordination Committee (ECC) of the Cabinet, which also approved about Rs182bn worth of six other supplementary grants, including…
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Pakistan’s oil and eatable import bill recorded a sharp increase in the first four months (July-October) of 2021-22 from a year ago owing to rising prices on the international market and massive depreciation of the rupee. The total import bill inched up by 65.4pc to $25.1 billion in 4MFY22 as against $15.17bn in the corresponding period of last year. The…
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