Prime Minister Imran Khan arrived in Moscow late on Wednesday on a two-day visit to push for the construction of a long-delayed, multi-billion-dollar gas pipeline to be built in collaboration with Russian companies. Russia’s Deputy Foreign Minister Igor Morgulov welcomed the prime minister upon arrival in Moscow. He was also presented with a guard of honour. The prime minister’s trip…
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The Supreme Court turned down the request of cement manufacturers and other industries to grant a stay against the Competition Commission of Pakistan (CCP)’s orders. A three-judge bench, headed by Justice Maqbool Baqir, on Wednesday heard appeals of various industries, mostly the cement producers, against the Lahore High Court (LHC) and the Islamabad High Court (IHC)’s verdicts. Attorney General for…
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Pakistan LNG Limited (PLL), which will now purchase one spot LNG cargo at a higher price of $25.12 per MMBTU to be delivered on March 10-11, has made up its mind to impose a monetary penalty on Italy based LNG term supplier ENI, which is the 30 percent of the term cargo. The PLL will impose the penalty on ENI…
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Chairman Oil and Gas Regulatory Authority (OGRA) Masroor Khan on Wednesday said the petroleum prices internationally were continuously increasing and result may impact on hike in petrol price domestically from March 1. The National Assembly (NA) Standing Committee on Petroleum held a meeting. In response to a question about the shortage of LNG, the Secretary Petroleum said that two of…
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2022: The National Assembly’s Standing Committee on Energy on Wednesday approved scrutiny of the Petroleum Division’s budgetary proposals for the Public Sector Development Programme (PSDP 2022-23) unanimously. The committee meeting, chaired by MNA Imran Khattak, also took up two government bills. It passed “the Petroleum (Amendment) Bill, 2021” with certain drafting corrections, and deferred “The Pakistan Petroleum Upstream Regulatory Authority Bill, 2022”…
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Federal government employees from BPS 1 to 19 grades will now get a disparity allowance from March 1, except those who are already getting extra allowances. In this regard, the government on Wednesday notified 15 per cent Disparity Reduction Allowance (DRA) on the running basic pay to the “underprivileged employees” up to grade 19. The government announced the DRA earlier…
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As per the details, K-Electric has requested an increase of PKR 3.406 per for January under fuel charges adjustment and negative adjustment of PKR 0.302 per unit for the second quarter of fiscal year 2022 (October 2021 to December 2021).
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The Board of Directors of Oil & Gas Development Company Limited (OGDCL) in its meeting held on 23rd February, 2022 at OGDCL Head Office, Islamabad announced the financial results for the half quarter ended 31st December, 2021 of fiscal year 2021-22. Net sales revenue clocked at Rs.151.163 billion translating to Profit after tax of Rs. 68.882 billion and earnings per…
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Turkey is working to increase the natural gas storage capacity at its facilities. Accordingly, the total capacity of the two facilities, Silivri and Lake Tuz underground natural gas storage facilities, will reach 10 billion cubic meters (bcm) next year, with the completion of the capacity increase works, Energy and Natural Resources Minister Fatih Dönmez said Sunday. Dönmez made the statements…
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The average cost of fuel used for electricity production doubled last month compared to Jan 2021, raising serious inflationary concerns among commercial and residential consumers alike. Even if we look at the Nepra data for Dec 2021, fuel costs were still up by almost 50%. Although the increase is mainly for reasons beyond the government’s hands — prices of coal,…
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