Operational constraints continue to affect the oil refining sector even though the local crude processors first raised the issue more than a month ago. Independent power producers (IPPs) are still not lifting locally processed furnace oil that they’re required to store on their premises for emergency use, said Mohammad Wasi Khan, chairman of Cnergyico PK Ltd (formerly Byco Petroleum), while…
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Russia is considering oil and gas investments in Afghanistan, the spokesperson of the Taliban interim government confirmed following a meeting with Russian investors in the capital Kabul on Monday. “Mr. Mawlawi Sahib Abdul Salam Hanafi, the deputy prime minister (of the Taliban government), met with a joint delegation of Afghan and Russian investors in his office,” Zabiullah Mujahid wrote in…
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The total petroleum and lubricant sales clocked-in at 1.51 million tons in December 2021, depicting a decline of six percent on year-on-year basis and 14 percent on month-on-month basis on account of significant decline in Furnace Oil (FO) volumes. FO volumes clocked-in at 0.13 million tons, down by 47 percent on YoY and 28 percent on MoM basis as compared…
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The sudden and steep hike in the prices of liquefied petroleum gas (LPG) used widely in vehicles in Kazakhstan coupled with the government’s response, or “lack of response,” prompted citizens to flock to the streets in protest as 2022 was just beginning, in a rare outburst for the Central Asian country in its recent history. The protesters’ questions are clear:…
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The Sindh High Court (SHC) on Wednesday took up a petition against the suspension of gas supply to non-export industries. The federal government and the Sui Southern Gas Company Limited (SSGC) filed their respective replies to the petition in pursuance of a court notice.In its reply, the government stated that the country’s natural gas reserves are fast depleting, due to…
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More than 1,500 pension funds, universities and other organizations around the world have announced that they will divest from fossil fuel assets, doubling from five years earlier and underscoring the surge in sustainable investing. These institutions have roughly $40 trillion in assets under management. The threat of divestment is one way to pressure corporations into addressing environmental, social and corporate…
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German Ambassador to Pakistan Bernhard Schlagheck called on Water and Power Development Authority (WAPDA) Chairman Lt Gen (r) Muzammil Hussain yesterday. Speaking on the occasion, WAPDA chairman thanked Germany for its assistance for hydropower projects through KfW. He said that KfW and WAPDA have a history of strong relationship for development of the two sectors. Elaborating the innovative financial plan,…
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Al Haj Automotive Pvt. Ltd (progressive assemblers and distributors of Proton Vehicles in Pakistan) and Euro Oil recently hosted an event at Royal Swiss Hotel to launch Proton Genuine Oil, powered by Petronas, for exclusive use in Proton Cars in Pakistan. Euro Oil is the exclusive distributor of Petronas in Pakistan. Petronas Lubricants have a strong presence internationally, powering high…
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An agreement to this effect was approved between China-Pakistan Economic Corridor (CPEC) Authority and Chinese Ministry of Environment by the Federal Cabinet on Tuesday. This will help to resolve electricity issue in Gwadar. Recently, Planning Minister Asad Umar said solar panels would be provided in Gwadar with Chinese help and the project would be started in March. To support the…
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The Public Accounts Committee (PAC) on Wednesday expressed concern over the performance of power distribution companies (DISCOs) and directed them to control transmission losses. A meeting of PAC was held under the chairmanship of Anna Tanveer Hussain, wherein they reviewed the audit objections of the Ministry of Energy. The committee members raised the issue of rising electricity bills. Presenting her…
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