In Jordan, one of the most water stressed countries in the world, people have become used to living with very little water.A study published in the Proceedings of the National Academy of Sciences showed that Jordanians will have to halve their per capita use of water by the end of the century. Most Jordanians on lower incomes will live on…
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CASA-1000 is a power transmission project from Tajikistan and Kyrgyzstan passing through Afghanistan to Pakistan. TAPI is a gas pipeline project designed to import gas from Turkmenistan. While we need gas, we are beset by the problem of excess capacity, of which more is to come in the next 10 years. Projections are that the worse has yet to come…
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The Board of Directors (BoD) of the Pak-Arab Refinery Company Limited (PARCO) has appointed Irteza Qureshi as the new deputy managing director (DMD) in the country. The refinery is a joint venture between Pakistan and UAE. Qureshi will assume charge of his office during the first week of Sept 2021. He is currently working in Oil and Gas Development Company…
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Pakistan State Oil (PSO) here on Friday got the highest-ever bid from the Qatar Petroleum (QP) Trading at 34.6688 percent of the Brent that translates into $25.30 per MMBtu for spot LNG cargo required to be delivered for September 16-17. The state-owned entity also received the bid price from VITOL at 24.5456 percent of Brent, meaning $17.91 MMBtu for the…
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Pakistan is considering different options for arranging foreign exchange from global creditors to ease the burden on country’s foreign currency reserves and kick off work on the $2.5 billion Pakistan Stream Gas Pipeline (PSGP) project. A meeting of the Cabinet Committee on Energy (CCOE) was held under the chairmanship of Federal Minister for Planning, Development and Special Initiatives Asad Umar…
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Minister Imran Khan on Friday welcomed the $85 million investment through Series B financing — the largest single private funding round in Pakistan’s history — in Airlift, a Lahore-based online shopping delivery service. Series B financing is the second round of funding for a company that has met certain milestones and is past the initial startup stage. “We welcome the…
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The Cabinet Committee on Energy (CCoE) on Friday asked the Petroleum Division to resubmit in its next meeting the draft of the Pakistan Oil Refinery Policy 2021 for approval after detailed deliberation and consensus with the stakeholders. The CCoE headed by the Federal Minister for Planning, Development and Special Initiatives Asad Umar, however, approved Power Division’s proposal seeking elimination of…
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The sponsors of an upcoming new ‘integrated’ liquefied natural gas (LNG) terminals have opposed unlimited capacity enhancement to government-guaranteed existing ‘un-bundled’ LNG terminals, saying such a move would monopolise the market and discourage new investment to set up merchant terminals. In a letter to the Oil & Gas Regulatory Authority (Ogra), Tabeer Energy Pakistan Limited (TEPL) — a 100 per…
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The Cabinet Committee on Energy (CCoE) is likely to approve the long-awaited Pakistan Oil Refining Policy 2021 on Friday (tomorrow) aimed at attracting $ 10-15 billion for setting up a world-scale deep conversion refinery and petrochemical complex and potential investors are seeking incentives/commitments prior to investment decisions. The sources said Petroleum Division had tabled the policy before the Economic Coordination…
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LONDON — Soaring electricity demand, infrastructure woes and a surge in global gas prices have triggered an extraordinary rally for the world’s least liked commodity. Australian thermal coal at Newcastle Port, the benchmark for the vast Asian market, has climbed 106% this year to more than $166 per metric ton, according to the latest weekly assessment by commodity price provider…
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