The Pakistan Red Crescent Society (PRCS) and the Oil & Gas Development Company Limited (OGDCL) have signed an MoU under which the latter will donate an X-ray machine to the Red Crescent Corona Care Hospital, Rawalpindi. The MoU was signed by PRCS Chairman Abrar ul Haq and OGDCL MD/CEO Shahid Salim Khan on behalf of their respective organizations at a…
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The petroleum company is trying to erase its history. But with billions of rupees missing, auditors resigning, and law enforcement agencies taking unprecedented interest, that is proving to be a little difficult. It is September 2019, and Mumtaz Hasan Khan is a confident man. And why wouldn’t he be? He is the chairman of Hascol Petroleum, a company that has…
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In line with increased demand, Thal Limited – a subsidiary of the House of Habib – is setting up a manufacturing plant for polypropylene woven bags in Hub with an investment of Rs1.7 billion. “Polypropylene bags are used for multiple purposes ranging from the packaging of fertiliser and sugar to finished agricultural products,” said Topline Securities Deputy Research Head Shankar…
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K-Electric Chairman Shan Ashary, along with board of directors member Khaqan Khan and CEO Syed Moonis Abdullah Alvi, called on Federal Minister for Finance and Revenue Shaukat Tarin on Tuesday. The chairman briefed the finance minister about operations of K-Electric as the main power utility, which met the electricity requirement of Karachi. He apprised the minister of the challenges being…
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ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has appointed an independent third-party inspector for conducting testing of gas meters of industrial and commercial gas consumers to address consumer complaints of overbilling and one-sided fines. “It is circulated for information of industrial and commercial consumers of natural gas/ RLNG that the authority in pursuance of Clause 8.2 of Natural Gas…
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ISLAMABAD: Prime Minister Imran Khan on Tuesday asked the finance and power ministries to sit together and devise a formula to retire the mammoth Rs900 billion circular debt in the power sector without putting any additional burden on electricity consumers. Presiding over a cabinet meeting, the prime minister expressed the fear that circular debt might go up to Rs1.5 trillion…
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Industry analysts were raising concerns about a glut of liquefied natural gas coming onto global markets when the coronavirus pandemic hit in early 2020. As national economies shut down and energy demand plummeted, the future of the industry and multibillion-dollar LNG export terminals along the Gulf Coast looked grim. A year later, however, LNG has bounced back, recovering faster than…
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GlobalData’s free bi-weekly Covid-19 report on the latest information your industry needs to know. The Department of Energy (DOE) in the Philippines has approved Vires Energy’s (VEC) notice to proceed (NTP) application for the proposed integrated LNG project in the province of Batangas. The proposal includes the construction of a liquefied natural gas (LNG) storage and regasification terminal project. Philippines…
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Documents seen by Dawn suggest that a combination of ambitious policy actions will rein in circular debt growth to the extent of over Rs2tr in two years. The average tariff is projected to be Rs20.25 per unit by FY2023 from a little over Rs15.4 per unit at present. The plan envisages that there will be no additional coal-based power plant in the…
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Lacklustre bureaucratic approach and inconsistent policies have resulted in losing $5 billion committed investment from Qatar in RLNG power plants, refurbishment of airports and hotels here in Pakistan and now it has been diverted to Bangladesh. Now Qatar’s Nebras Power Investment (QEWS QD) has acquired equity stake in Bangladesh’s Unique Meghnaghat Power. Also, the Nebras Power Investment Management has signed…
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