Minister of Energy Mr. Muhammad Ali attended the event of “40 Years of Friendship-Past, Present and Future between Republic of Korea and Pakistan” as chief guest today at Marriot Hotel Islamabad. Followed by the address of Korean Ambassador to Pakistan Mr. Suh Sangpyo and the introductory note, the minister delivered a keynote address at the event. He expressed his gratitude…
Read MoreDay: October 25, 2023
NTDC revises its three-year investment plan
ISLAMABAD-National Transmission and Despatch Company Limited (NTDC) has revised its three years investment plan, seeking NTDC NEPRA nod for investment of Rs 510 billion. Delay by the company in the execution of 42 projects has resulted in cost escalation of Rs 180 billion.In its revised investment plan for tariff control period from FY2022-23 to FY2024-25 National Transmission and Despatch Company…
Read MoreChevron to buy Hess Corp for $53b in all-stock deal
Recent deals a financial flex by US oil, gas firms that keep investing in fossil fuels HOUSTON: Chevron agreed to buy US rival Hess for $53 billion in stock in a deal that reflects top US energy companies drive for oil and gas assets in a world seeking lower-risk future fossil supplies and higher shareholder returns. The proposed deal amps…
Read MoreWorld Bank’s Banga says geopolitics pose biggest, but not the only, risk to world economy
Geopolitical tensions heightened by the Middle East conflict pose the biggest threat to the world economy right now but other risks are also at play, World Bank President Ajay Banga said on Tuesday. “The US 10-year Treasury (yield) just crossed 5 per cent briefly yesterday, these are areas we haven’t seen. So yes, that is right there lurking in the…
Read MorePakistan asks Saudi Arabia for $1bn oil facility in CY24
Pakistan has made a formal request to the Kingdom of Saudi Arabia (KSA) for provision of $1 billion oil facility on deferred payment for the calendar year 2024. ISLAMABAD: Just ahead of the IMF’s review talks, Pakistan has made a formal request to the Kingdom of Saudi Arabia (KSA) for provision of $1 billion oil facility on deferred payment for…
Read More50 more PIA flights cancelled over fuel supply
PIA’s fuel supply could not be restored despite payment to PSO KARACHI: The Pakistan International Airlines (PIA) paid Rs70 million to the Pakistan State Oil (PSO) on Tuesday but the fuel supply could not be restored due to which more than 50 more flights were canceled for Wednesday. According to PIA sources, Karachi to Lahore flights PK302, PK303, PK304, PK305…
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