Pakistan and Iran will hold a two-day Joint Economic Commission (JEC) meeting on August 17-18 to discuss wide range of issues except starting of formal banking system due to opposition by the State Bank of Pakistan. The sources said, both sides will discuss the possibility of bilateral trade, Free Trade Agreement (FTA), removal of tariff and non-tariff barriers under Preferential…
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The Sui Southern Gas Company (SSGC) has reported a drop of 30 million cubic feet per day (mmcfd) in supplies to Sindh and Balochistan after a field developed technical fault, which is expected to increase the duration of load-shedding in both the provinces.“It will take over one month to manage the situation,” according to a statement issued by the gas…
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In a major development, the government plans to use indigenous Thar coal, instead of imported coal, for generation of 3,960MW. The three power plants that would be shifted to indigenous coal are Sahiwal Coal Power (Sahiwal), China Hub Coal Power (Hub) and Port Qasim Coal (Port Qasim, Karachi), each of 1,320MW installed capacity. It is indeed a landmark and timely…
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Power Sector’s Transmission , According to Pakistan Institute of Development Economics (PIDE)’s One Year Growth Strategy for Pakistan, energy is a chronic problem that eight governments have not been able to solve. Due to mismanagement and weak governance in the power sector, huge transmission & distribution losses reached Rs. 473 billion during 2021, out of which Rs. 402 billion were…
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The present government’s priorities are to increase GDP growth to 6-7% in the medium term, improve investment climate to attract domestic and foreign investment, promote tourism and information technology, and set up Special Economic Zones (SEZs) for export promotion. This was stated by Finance Ministry in the “75 years’ economic journey of Pakistan” released by it on Saturday to commemorate…
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At an industry event this year in Riyadh, the Saudi energy minister paused at about 9 p.m. in front of some 1,000 people and told them it was bedtime for Amin Nasser, the chief executive of state-owned oil producer Saudi Aramco. He was not joking. Over a career of four decades, Nasser has earned a reputation for a style of…
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The federal government may increase the prices of petroleum products by up to Rs16.48 per litre with effect from August 16, according to the estimates of oil refineries. In a press conference on Saturday, Minister of State for Energy (Petroleum Division) Musaddiq Malik said that the Oil and Gas Regulatory Authority (Ogra) determines the price of petroleum products on the…
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This week, OPEC issued its Monthly Oil Market Report. It was released just hours after the IEA released its own monthly oil market forecast. Unlike the IEA, the oil-producing group forecast that growth in oil demand this year would be slower than previously expected. OPEC also forecast an oil market surplus, sparking speculation that it may be preparing for production…
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Since its invasion of Ukraine, Moscow has twice blocked Kazakh oil exports crossing its territory. Is this revenge for Kazakhstan’s refusal to endorse the war? An attempt to push up the value of its own crude? Either way, Beijing does not like it. The Chinese government has signaled that it will not accept Russian meddling in Kazakh oil exports, quietly…
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Iran considers that a European Union proposal for the restoration of the so-called nuclear deal could be “acceptable” if it provides assurances about the key demands of the Islamic Republic, a senior Iranian diplomat was quoted as saying on Friday. Speaking to Iran’s IRNA news agency, the unnamed Iranian diplomat said on Friday, as carried by Reuters: “Proposals by the…
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