Construction work is under progress on 12 different sites of Dasu Hydropower Project. The critical diversion system will be completed in May this year, while electricity generation will commence by the end of 2026. The project management briefed Chairman Wapda Lt-Gen Sajjad Ghani (retd) during his visit to Dasu Hydropower Project which is being constructed by Wapda on River Indus…
Read More
The federal and Baluchistan governments inked a deal on Reko Diq with the Canadian business Barrick Gold on 16 December, after the Supreme Court approved a settlement to begin mining at the site located in Chagai district. The Baluchistan administration described the arrangement as historic and the largest investment pact ever made by the nation. The statement said, “The $6.5…
Read More
Dalian and Singapore iron ore futures fell on Tuesday, along with Chinese steel benchmarks and other steelmaking ingredients, as Covid-19 pressures that have been dragging down China’s economy weighed on sentiment on the first trading day of 2023. Top steel producer China’s factory activity shrank at a sharper pace in December as surging Covid-19 infections disrupted production and curbed demand…
Read More
The Oil and Gas Regulatory Authority (Ogra) on Tuesday released details of activities undertaken by the authority’s oil enforcement team to promote a healthy environment. The team held a meeting on Safety Awareness Campaign-Mission. Regarding safe usage of heaters on gas, LPG, and LPG cylinders, a safety awareness walk was conducted at Murree jointly with the SNGPL and local administration.…
Read More
The circular debt of Pakistan State Oil (PSO) has crossed the historic limit and the risk of default of PSO’s Letter of Credit (LC) for importing oil has arisen. According to the details, PSO s circular debt has reached Rs613 billion while gas and power companies have been defaulters of billions of rupees to PSO. PSO owes Rs388 billion to Sui…
Read More
Pakistan’s government has ordered all malls and markets to close in the evenings as part of a new energy conservation plan Pakistan’s government has ordered all malls and markets to close by 8:30 pm among other measures in a new energy conservation plan as the country grapples with an economic crisis. The country’s foreign exchange reserve levels barely cover a…
Read More
Russia’s invasion of Ukraine back in February triggered a major market crisis. Oil and gas prices soared to multi-decade highs; coal prices grew by nearly 70%, global wheat prices increased by over 60% while prices of metals exported by Russia, such as nickel, palladium, and aluminum all increased significantly. Meanwhile, the euro fell below parity with the dollar for the…
Read More
In the European Union this winter, fears of rolling blackouts triggered by Russian energy export cuts amid Moscow’s war in Ukraine have subsided thanks to good luck, good weather, and quick action. A warm start to the heating season in October and November enabled the EU to slash natural gas consumption and store more fuel for the winter months. Meanwhile,…
Read More
The Latin American country of Colombia is synonymous with violence, drug cartels and cocaine trafficking after decades of bloody multiparty low level asymmetric conflict. While cocaine, and the vast profits the narcotic generates, has long been recognized as a leading force behind the extreme bloodshed, the civil war is not limited to battling for control of lucrative coca cropping regions…
Read More
