2021 - Page 210 of 260 -

China’s Gas Production To Maintain Solid Growth: Fitch

March 10, 2021April 29, 2023 Admin

BEIJING (APP – UrduPoint / Pakistan Point News – 8th Mar, 2021 ) :China’s gas sector exhibited a strong performance in the latter half of 2020 and medium-term growth will remain solid, according to the latest report from Fitch Ratings. A recovery in industrial activity following coronavirus pandemic lockdowns and an exceptionally cold winter triggered a gas-supply shortage in late 2020, with strong demand leading to higher gas imports, the ratings agency noted.…

Broadsheet panel chief turns down pay, perks

March 10, 2021April 29, 2023 Admin

Justice (retd) Sheikh Azmat Saeed, the head of an inquiry commission to investigate the Broadsheet issue, has informed the government that he did not desire any salary or perks for his work as the commission head. The matter of the salary for the former Supreme Court judge is part of the agenda of the federal cabinet meeting, which will be…

Yemen’s Houthis attack Saudi oil heartland with drones, missiles

March 10, 2021April 29, 2023 Admin

Yemen’s Houthi forces fired drones and missiles at the heart of Saudi Arabia’s oil industry on Sunday, including a Saudi Aramco facility at Ras Tanura vital to petroleum exports, in what Riyadh called a failed assault on global energy security. Announcing the attacks, the Houthis, who have been battling a Saudi-led coalition for six years, also said they attacked military…

Low LNG offtake puts pipelines at risk

March 10, 2021April 29, 2023 Admin

Efforts made by Sui Northern Gas Pipelines Limited (SNGPL) and Pakistan LNG Limited (PLL) to control the liquefied natural gas (LNG) supply chain have put an additional burden of millions of dollars on consumers and posed a threat to the gas pipeline network. Over the past couple of weeks, SNGPL has reduced LNG offtake from Pakistan State Oil (PSO) and…

KP signs pact for 300MW Balakot hydropower project

March 10, 2021April 29, 2023 Admin

PESHAWAR: The Khyber Pakhtunkhwa government on Tuesday signed an agreement with a Chinese company for the construction of the 300-megawatt Balakot hydropower project. The 300MW project — said to be the biggest-ever power generation plant in the province — would be constructed with an estimated cost of Rs85 billion in a period of six years with the financial assistance of…

Discos allowed 90-paisa hike in fuel cost for January

March 10, 2021April 29, 2023 Admin

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Tuesday notified about 90-paisa per unit increase in electricity rates for ex-Wapda Distribution Companies (Discos) to generate about Rs6.9 billion additional revenue to the troubled power sector. The increase was allowed on account of monthly fuel cost adjustment (FCA) for electricity consumed in January. This would be charged to consumers in…

Eni exits Pakistan, sells assets to local JV

March 10, 2021April 29, 2023 Admin

LAHORE: The Italian energy company, Eni, has sold its assets in Pakistan to Prime International Oil & Gas Company, a newly established joint venture (JV) between its local employees and Hub Power Company, in line with its 2021-24 business plan to dispose of its non-key assets to raise cash after the global downturn triggered by the Covid-19 pandemic and to…

GHANI GLOBAL GROUP TO VENTURE INTO HIGH LEVEL ENERGY STORAGE TECHNOLOGY MARKET

March 10, 2021April 29, 2023 Admin

Ghani Global Limited (PSX symbol: GGL), a Lahore based Islamic-commerce oriented industrial and manufacturing group, has announced its foray into the manufacturing of sophisticated technology for enhancing energy storage efficiency by way of production of long-life supercapacitor batteries in Pakistan. The project shall be completed in a joint venture arrangement with M/s Kilowatt Labs Inc., New York, USA. The global…

Power Division, NTDC BoD lock horns over selection of MD

March 10, 2021April 29, 2023 Admin

ISLAMABAD: Power Division and Board of Directors (BoD) of National Transmission and Despatch Company (NTDC) are said to have locked horns on the selection of Managing Director of the Company, sources close to MD NTDC told Business Recorder. The Board wants to appoint Azaz Ahmed as Managing Director of NTDC who is demanding a salary package of $ 15,000 per…

Contract Agreement Signed for the Construction of 300 MW Balakot Hydropower Project

March 10, 2021April 29, 2023 Admin

As an important development in energy sector, the Khyber Pakhtunkhwa* government has signed contract agreement with the Chinese construction company for the construction of 300 MW Balakot Hydro Power Project, the biggest ever project of hydro power generation under the provincial government. The 300 mega watt power project would be constructed with an estimated cost of Rs. 85.00 billion in…