Japan’s parliament elected Fumio Kishida to serve as the country’s Prime minister. The new prime minister is scheduled to dissolve parliament next week and call for elections on October 31. The Japanese parliament announced the selection of Fumio Kishida as the new head of the Japanese government, after the entire previous government, led by Prime Minister Yoshihide Suga, resigned. Fumio…
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Waning foreign direct investment has not been the only concern for the hydrocarbon exploration and production sector; local investors have also been weary because of the decline in domestic production of hydrocarbons and smaller discoveries – of both crude and natural gas – amid falling reserves. And this could very well be a disincentive for foreign investors.
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China has announced in international fora that it won’t finance any coal power plant project outside of China anymore. This has sent shockwaves among stakeholders in Pakistan, who were counting on technology and finance from China to utilise the huge Thar coal deposits of 185 billion tons. China has already built a 660-megawatt power plant in Thar and is in…
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According to a recent report released by PRIME, state-owned electricity distribution companies (DISCOs) have caused a cumulative loss of Rs1,355 billion over the last five years. This includes the loss due to failure in bill recoveries (Rs495 billion), financial loss due to transmission and distribution loss (Rs195 billion), and tariff differential subsidy (Rs708 billion) over 2016-2020. This should not be…
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In a new development, the name of Haroon Rashid is being tipped as new Special Assistant to Prime Minister (SAPM) on Petroleum as the government’s top decision makers have invited him to Islamabad for interview purposes. Top sources, who are privy to the development, told The News that Haroon Rashid being Energy business leader with extensive global experience has also…
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Thar Coal is $5.5/MMBTU as we all know, but it’s cost will decrease. NG local is prescribed price of Natural Gas which is Well Head WACOG of both Suis (Avergae of SNGPL WACOG and SSGC WACOG of local gas) plus revenue requirement. It is determined twice one year whereas Petroleum products are determined every month this is one of structural…
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CNG sector may collapse this winters, I deem. In hindsight, it was a very a foolish decision to introduce CNG. Though we have the infrastructure but we are short to the market, where are the supplies. Had UGDC given go ahead earlier they signed very good deal with ExxonMobil. Lost opportunity
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Asia’s high-sulphur fuel oil (HSFO) market dipped on Friday, with cash premiums and front-month time spreads edging lower. However, tight supplies and strength in the gas market continues to be supportive for utility-grade HSFO, industry sources said. “Spot Asian LNG is trading at an oil equivalent of around $177 a barrel and so there is a clear incentive for gas-to-oil…
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Pakistan and Denmark officials agreed to strengthen bilateral cooperation in the renewable energy sector and green transition. Denmark’s foreign minister Jeppe Kofod discussed the ongoing cooperation in green energy as well as strengthening trade and investment ties during his visit to Pakistan. Pakistan’s foreign minister Shah Mahmood Qureshi and Denmark’s foreign minister Jeppe Kofod agreed to strengthen bilateral cooperation in…
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With winter outlook growing gloomier and gloomier for the natural gas consumers amid high prices and low supply, transporters are also seeing long bumpy roads ahead even in the months of autumn. This is what the rising trend in the prices of Compressed Natural Gas (CNG) in the last month is something to go by regarding upcoming chilly, dark, and…
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