As international crude oil prices have started to rise and calls for Brent at $100/bbl are being heard, panic must be setting in Islamabad, although it may not be apparent yet. There have been calls for gradual increase in petroleum prices in anticipation of the price increase before it gets too late. (See: “Oily slope” published on June 7, 2021).…
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The International Maritime Organization (IMO) has certified Byco’s oil spill response (OSR) team for achieving Level II and III professional training and certification, a statement said on Monday. Byco is the only Pakistani oil company having a dedicated oil spill response team capable of managing oil spills, whose members are IMO certified, it added. Azfar Saeed Baig, vice president of…
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Amid the LPG prices going up in the country, JJVL (Jamshoro Joint Venture Limited) LPG and NGL extraction plant still awaits the nod of Sui Southern Gas Company (SSGC) for supply of gas despite the fact that AF Ferguson & Company (AFFCO), appointed as supervisor by the Supreme Court in its final determination report, has established the commercial and financial…
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An atmospheric research station in Hawaii recorded its highest concentrations of carbon dioxide since accurate measurements began 63 years ago, a government agency said Monday, adding that the coronavirus pandemic had barely impacted rising levels of the greenhouse gas. The Mauna Loa Atmospheric Baseline Observatory’s measurements for May 2021 averaged 419 parts per million (ppm), up from 417 ppm in…
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KOHAT: MNA Shehryar Afridi has said a Pakistan State Oil depot will soon be reopened in Kohat after 13 years. The depot located on the Rawalpindi Road was closed in 2008 during the fight against militancy. Talking to mediaperosns here on Sunday, he said the owners of filling stations had to pay extra rent on transportation of oil from Peshawar…
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Economic experts claimed that Pakistan’s various sectors are ready to receive maximum benefits from China-Pakistan Economic Corridor (CPEC) project According to political economists, many sectors will get benefits from the project as in addition to the economic corridor, CPEC in Pakistan will include energy projects, infrastructure development, industrialization, and the expansion and improvement of Gwadar Port. The project has great…
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Minister of State for Information and Broadcasting, Farrukh Habib on Saturday said government of Pakistan Tehreek-e-Insaf (PTI) has initiated a number of projects for the welfare of poor including health cards and prime minister’s housing scheme. He said large number of families living in different parts of Khyber Pakhtunkhwa were being benefited with health cards and availing medical facility free…
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SINGAPORE, June 7 (Reuters) – Oil extended gains to hit fresh multi-year highs on Monday, underpinned by a brighter economic and fuel-demand outlook, while investors eyed the outcome of talks between Iran and world powers over a nuclear deal that is set to boost crude supplies. Brent crude futures for August rose 28 cents, or 0.4%, to $72.17 a barrel…
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Islamabad June 06 2021: Special Assistant to Prime Minister on Power and Petroleum said that foreseeing ample capacity government has decided to retire older plants based on Residual Furnace Oil (RFO). This will help to save PKR200 in capacity payments. Government will buy private Independent Power Producers on Net Present Value basis which comes out to be half of the…
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The International Maritime Organization (IMO)has certified Byco’s Oil Spill Response (OSR) team for achieving Level II & III professional training and certification. Byco is the only Pakistani oil company having a dedicated Oil Spill Response team capable of managing oil spills, whose members are IMO certified. Mr. Azfar Saeed Baig, Vice President, Byco Petroleum Pakistan Limited, recognizing the achievement, commented:…
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