With the start of winter, gas shortage has become a major issue especially in the province of Punjab, as only eight hours of gas will be supplied to domestic consumers in 24 hours from next month. As per the sources, Punjab will be the most affected by the gas shortage as Sui Northern Gas Pipelines Limited will not have the…
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Saif Power Limited (SEL) has urged Central Power Purchasing Agency-Guaranteed (CPPA-G) to accelerate its payments as its liquidity position is critical. In a letter to Chief Executive Officer (CEO), CPPA-G, Rehan Akhtar, CEO SEL, Sohail H Hydari has stated that the power company’s overdue receivables have increased to Rs10.93 billion which were Rs10 billion last month. According to CEO of…
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OPEC is “back in the driver’s seat” as the world’s most powerful swing producer, Hess Corp CEO John Hess said on Thursday at a Miami conference. According to Hess, U.S. crude oil production will average 13 million bpd over the next few years, where it will plateau, as investors pressure U.S. oil companies to focus on returning money to shareholders…
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Short-term oil price forecasts have been persistently bullish this year, with most forecasters expecting benchmarks to top $100 sometime next year. Over the longer term, however, things change. Goldman Sachs, for instance, this week said in a note that it expected oil could surge to $125 per barrel if China ended its Covid restrictions. Its base-case forecast for 2023 is…
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Pakistan’s annual economic output could see a cut of 18 per cent to 20pc by 2050 due to climate change risks, according to a report recently published by the World Bank. “The combined risks from the intensification of climate change and environmental degradation, unless addressed, will further aggravate Pakistan’s economic fragility; and could ultimately reduce annual GDP by 18pc to…
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The government has given a hefty amount of over Rs70 billion in subsidy by providing liquefied natural gas (LNG) at discounted rates to two fertiliser plants over the past few years. However, it does not seem to have made any difference in the lives of farmers, who continue to bear higher prices of urea fertiliser. According to sources, the government…
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In a statement to the bourse on Thursday, Hub Power Company Limited (Hubco) announced that Prime, a 50-50 joint venture between Hub Power Holdings Limited (a fully owned subsidiary of Hub Power Company Limited) and the Eni’s Employee Buy-out Group, entered into four sale purchase agreement with Eni International BV, Eni Oil Holdings BV, Eni UK Limited and Eni ULX…
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Britain faces a record hit to living standards this year as surging inflation erodes incomes, the country’s budget forecasters warned, after finance minister Jeremy Hunt announced more pain, with tax rises now and spending cuts further ahead. In a bid to restore Britain’s fiscal reputation after the chaos caused by former prime minister Liz Truss’s plans for sweeping tax cuts,…
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LONGi recently held an event to formally launch its new generation of module products for the promotion of clean solar energy in Pakistan. The event was attended by a large number of partners and prospective clients of LONGi in Pakistan who were informed about the latest technological developments for maximizing the use of clean solar technology for a very large…
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