China will provide support to develop Gwadar Port in better, faster way ISLAMABAD: Pakistan and China have signed a new advisory deal for faster development of Gwadar Port aimed at giving a push to the strategically important pillar of the China-Pakistan Economic Corridor (CPEC) that is facing inordinate delays. The advisory deal was among 20 agreements and memoranda of understanding…
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KARACHI: Pakistan Refinery Limited (PRL), one of the country’s largest oil refineries, has entered into a long-term agreement with Russian companies for the supply of crude oil, the company’s chief executive officer said on Wednesday. “PRL is negotiating with the Russian companies for the next cargo of crude oil in December this year,” a source in the oil sector said.…
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ISLAMABAD: Caretaker Prime Minister Anwaar-ul-Haq Kakar said on Wednesday that his country has completed more than 50 projects worth $25 billion under the China-Pakistan Economic Corridor (CPEC). Kakar was speaking at the Belt and Road Forum in Beijing. The CPEC is a flagship project under China’s Belt and Road Initiative, with more than $65 billion pledged for road, rail and…
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• Crucial agreement signed to cut cost of cross-country Main Line-1 rail link• Pakistan Refinery inks $1.5bn deal to boost petrol, diesel production• PM Kakar looks to Beijing for help to diversify export basket, expand industrial base ISLAMABAD: Pakistan and China on Wednesday agreed to expand the scope of the multibillion-dollar CPEC infrastructure project, which will now diversify to areas…
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The agreement is set to increase PRL’s refining capacity from 50,000 bpd to 100,000 bpd A memorandum of understanding (MoU) has been signed by Pakistan Refinery Limited (PRL) and the United Energy Group of China (UEG). This agreement is set to escalate PRL’s refining capacity from 50,000 barrels per day (bpd) to 100,000 bpd. The MoU was inked at the…
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