On July 19, 2022, the National Iranian Oil Company (NIOC) signed a memorandum of understanding (MoU) with Russian gas company Gazprom worth close to $40 billion. The deal was signed by the CEOs of both companies during a virtual ceremony on the same day that Russian President Vladimir Putin arrived in Tehran for a summit with his Iranian and Turkish…
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The government has decided to manufacture solar panels in the country, and in this regard Prime Minister, Shehbaz Sharif has tasked the Ministry of Industries and Production (MoI&P) to ensure the federal cabinet’s approval on a policy latest by March 31, 2023. According to sources, the minister for finance and revenue has been tasked to work out a plan for…
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Sui Northern Gas Private Limited (SNGPL) on Thursday said it would soon initiate door to door surveys of houses to monitor and ensure the installation of conical baffles in domestic geysers. It was reported that if a consumer was found to be using gas geysers without baffles, the SNGPL would install the baffles in it. Earlier, Oil and Gas Regulatory…
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The Minister of Industry and Mineral Resources Bandar bin Ibrahim Al-Khorayef held on Wednesday evening a number of bilateral meetings with the ministers concerned with mining affairs in their countries. The meetings were held on the sidelines of the activities of the International Mining Conference, which kicked off earlier Wednesday at King Abdulaziz International Conference Center in Riyadh, under the patronage of the…
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Sindh Energy Minister Imtiaz Ahmed Sheikh, on Wednesday, directed to expedite electrification work in rural areas of Sukkur region and resolving right-of-way issues on priority. The minister was chairing a meeting of Sukkur Electric Power Company (SEPCO) here that was attended by Chairman SEPCO board Agha Laal Bakhsh, Chief Executive Officer SEPCO and other relevant officers. Expressing dissatisfaction over the pace of electrification work in Sukkur region, Imtiaz Sheikh directed that the electrification work should be…
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Russia’s oil production rose 0.1% in the period from January 1 to 9, to stand at about 10.9 million barrels per day (bpd), compared to December 2022, the daily Vedomosti reported on Wednesday, citing two sources familiar with energy ministry data. Vedomosti said Russian oil exports had risen by 1.2% in early January to 634,400 bpd, while refining volumes increased…
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The General Secretariat of the Organization of Islamic Cooperation (OIC) condemns the illegal exploitation of natural resources by Armenia in the Karabakh region of Azerbaijan, on the Shusha-Khankendi road (Lachinroad), contrary to the Trilateral Statement of Azerbaijan, Armenia and the Russian Federation of 10 November 2020, reports citing the official website of the OIC. Exploitation of mineral deposits without due…
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WTI oil held steady at $76 per barrel, after the U.S. Energy Information Administration reported an inventory build of 19 million barrels for the first week of the new year. At 439.6 million barrels, inventories of crude have turned about 1 percent above the average for this time of the year. The report follows a moderate build of 1.7 million barrels for the last…
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The Oil and Gas Regulatory Authority (Ogra) on Wednesday allowed two gas companies — Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company Limited (SSGCL) — to hike their prices by 74.42pc and 75.35pc, respectively. In its decision on the two companies’ petitions, Ogra allowed SNGPL to raise its average prescribed gas prices for the current fiscal year…
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January 2023
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