The federal cabinet has approved the restoration of 11 cancelled petroleum exploration licences on the recommendation of the Petroleum Division. The cabinet met under the chairmanship of Premier Shehbaz Sharif on Thursday.During the meeting, the Ministry of Planning presented a report related to the biblical floods in Pakistan during the current year. The Post-Disaster Needs Assessment (PDNA) was conducted by…
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Oil prices fell on Thursday on the prospect of a key Canada-to-U.S. crude pipeline that shut after a leak returning to service soon, putting a hefty amount crude back into the market at the same time that global economic slowdowns raised fuel demand fears. Brent crude lost 67 cents, or 0.9 percent, to $76.50 a barrel by 1629 GMT, while…
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The Power Division has expressed willingness to do away with the role of collection of taxes and surcharges on electricity except General Sales Tax (GST) to avert criticism of consumers due to heavy bills. This intention was conveyed by the Minister for Power, Khurram Dastgir Khan at a meeting of National Assembly Standing Committee on Power during discussion on a…
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It’s been a long time since I last looked into the offshore data in the BP office in London. Without getting into granularity, exploration history of Pakistan offshore in general is not much different from other successful offshore basins across the globe. It is one of the largest frontier offshore basins in the world. A common theme in all these…
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Scientists, environmentalists and even the UK government’s own climate advisers have strongly criticized its decision to approve a plan to open the country’s first new coal mine in three decades, a little more than a year after the nation tried to convince the world to ditch the filthy fossil fuel at the COP26 climate talks in Glasgow. Michael Gove, the…
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WTI and Brent crude oil prices fell for a third straight session on Tuesday, with the U.S. benchmark now at its lowest level in a year. Front-month Nymex crude for January delivery closed the day -3.5% to $74.25/bbl, its lowest in nearly a year, while February Brent crude finished -4% to $79.35/bbl, its weakest close since January 3. It’s now…
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Hours of electricity shutdowns in the summer and hours of gas load shedding in the winters, such is life for the residents of the country’s most populated city – who are irked by the additional costs they are having to bear to cook food or keep warm ever since the mercury dropped. The residents of Karachi, much like the rest…
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The Lahore Chamber of Commerce and Industry (LCCI) has urged the Environment Department to immediately stop coercive measures against furnaces installed in the steel sector until standardised scrubbers are finalised. President of LCCI Kashif Anwar while speaking to a delegation of the All Pakistan Small Steel Re-Rolling Association said that it is encouraging to know that the SIDB is planning…
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Federal Ombudsman Ejaz Ahmad Qureshi has directed Power Division and Distribution Companies (Discos) to resolve complaints of citizens immediately. On Wednesday, a meeting was presided over by the Federal Ombudsman which was attended by senior Officers of WMS, Secretary Power Division Rashid Mahmood Langrial, Chief Executives of IESCO, LESCO and PESCO. The meeting was informed that during the year 2022…
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As the mercury level drops in the winter season, the demand of electricity and gas increased significantly in Khyber Pakhtunkhwa particularly in hilly areas where people extensively use power and gas appliances for cooking and heating purposes. The people normally gather around wood fire and stoves while also use electric rods and heaters to keep themselves warm as the fogs and cold weather gripped KP for the last couple of days forcing masses to wear additional…
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