It’s done. We have a new set of economic managers. The gruesome politicking, hourly chess moves, neutrality of umpires and the locking of dissidents is over. While the bickering, protests, unfolding of new corruption cases and closing of the previous ones would continue for the foreseeable future, the imminent task is to “steady the boat”. It’s rocking nor rolling. Pakistan’s…
Read More
With a new government headed by Prime Minister Shehbaz Sharif in place, Pakistan LNG Limited (PLL), which earlier decided not to buy spot LNG cargoes for April and May, has issued tenders seeking bids from international suppliers to purchase six cargoes from LNG spot market—three each for May and June at competitive prices, a senior official of the Energy Ministry…
Read More
With record Rs520 billion receivables on its books, the state-run Pakistan State Oil (PSO) is struggling with oil supply management as private firms and banks try to limit their exposure and volatile international oil market players prefer cash and higher premium. In a report sent to the federal government, the cash-starved leading fuel supplier has said its total receivables stood…
Read More
Prime Minister Shehbaz Sharif has reaffirmed the commitment to work tirelessly for the welfare of the people.Inaugurating Orange Line Metro Bus Service from Peshawar Morr to New Islamabad International Airport on Monday, the Prime Minister said he will work with the same speed that he is used to.The Prime Minister regretted delay in the operationalization of Peshawar Morr-New Islamabad airport…
Read More
DGPC today publicly opened bids for 14 Onshore Blocks for grant of Petroleum Exploration Rights through open bidding on April 18, 2022 at Petroleum House, Islamabad. Bids were received for 9 Blocks and opened by the Bid Opening Committee in the presence of companies’ representatives. The minimum investment to be carried out by the Exploration and Production (E&P) companies in…
Read More
The EU is working on broadening sanctions on Russia to include oil and gas embargoes but such measures would take “several months”, European officials told AFP on Friday. The bloc last week announced a ban on Russian coal in a first step against Russian energy exports — together, Moscow’s main hard currency earner. But the coal sanction only kicks in…
Read More
Germany has released nearly three billion euros ($3.2 billion) to acquire floating liquefied natural gas import terminals, the finance ministry said Friday, as it seeks to move away from dependence on Russian gas. “Dependence on Russian energy imports must be reduced quickly and sustainably,” tweeted Finance Minister Christian Lindner. “Floating LNG terminals make an important contribution to this, for which…
Read More
Japan will increase investments in the production of liquefied natural gas abroad to secure supply, the country’s industry minister said today. “Russia’s invasion of Ukraine has intensified competition for purchasing LNG, raising concerns about stable supply of the fuel for Japan,” Koichi Hagiuda told media, as quoted by Reuters. “The government needs to come to the forefront to secure LNG through cooperation with…
Read More
Pakistan’s oil and eatable import bill surged by 59.98 per cent to $21.87 billion in the July-March period compared to $13.67bn in the corresponding period last year owing to higher international prices and massive depreciation of the rupee. The country’s overall import bill increased by 49.10pc to $58.87bn in 9MFY22 against $39.48bn in the corresponding period last year. The share…
Read More
National Electric Power Regulatory Authority (NEPRA) summoned heads of 27 closed power plants on Friday, where the power firms said Central Power Purchasing Agency (CPPA) hadn’t issued funds on time, causing fuel shortage and no money for repairing the plants. The regulator called upon the power plants’ chief after PM Shehbaz Sharif took notice of unscheduled power outages across the…
Read More
