Financing will go to oil refinery to be set up by Aramco either in Hub or Gwadar KARACHI, PAKISTAN: Caretaker Federal Minister for Energy, Power and Petroleum Mohammad Ali has said that Pakistan is actively engaged with Saudi Arabia for potential investment of around $10 billion in the oil refining sector, believing their efforts will bear fruit in a couple…
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KARACHI: Sindh Commerce Minister Muhammad Younus Dagha has said the Karachiites pay at least Rs3 to Rs5 per unit extra to K-Electric on account of fuel cost adjustment (FCA) every month as compared to other distribution companies (Discos) because of KE’s obsolete power generation plants which need to be unbundled. “The electricity supply system stands completely unbundled across Pakistan where…
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Islamabad. Apropos news items appearing in the press regarding ‘Brownfield Refinery Policy’ it is being clarified that numerous meetings have been held between Oil and Gas Regulatory Authority (OGRA), refineries and the representatives of Ministry of Energy, Petroleum Division. The Brownfield Refinery Policy required to be signed enabling the existing refineries to proceed with their projects to upgrade to produce…
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A senior level delegation from Kuwait Foreign Petroleum Exploration Company (KUFPEC), Kuwait, led by Mr. Tareq M. Ebrahim (EVP – Operations) and including Mr. Ali Taha Al-Temimi (Country Head – KUFPEC, Pakistan), Mr. Bader Al-Matar (Manager Asia Region), Mr. Nawwaf AlSalem (Manager Exploration), Mr. Khaled Al-Athainah (Manager Exploration, Pakistan) and Mr. Abdul Ghafoor (Sr. Specialist Geologist, Pakistan), visited OGDCL Head office…
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Karachi, November 15, 2023: The 7th Edition of THE FUTURE SUMMIT (TFS) commenced with a full house at a local hotel in Karachi.THE FUTURE SUMMIT is co-hosted by Nutshell Group and HBL, and powered by Unity Foods Limited, in strategic partnership with the Overseas Investors Chamber of Commerce and Industry (OICCI) and CORPORATE PAKISTAN GROUP.The inaugural session showcased an impressive…
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KARACHI: Provincial Minister for Revenue, Industries and Commerce Muhammad Younus Dagha has said that worldwide gas tariff for industries is subsidized while the residential consumers are subjected to higher cost but unfortunately, in Pakistan, the industries are subsidizing all other sectors which is purely against international best practices.“Structural changes in consultation with business community are needed to rectify all issues…
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• Evaluation of mining project’s share price complete, says PC chief• Insists $70bn expected under SIFC based on ‘real offers’ from friendly countries• Defends military’s involvement in decision-making due to its ‘capabilities’ ISLAMABAD: Talks with Saudi Arabia on the sale of stakes in the multibillion-dollar Reko Diq gold and copper mine will begin soon, the head of the Planning Commission…
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ISLAMABAD: The International Monetary Fund (IMF) has advised Pakistan against creating a group of preferred investors or distortions in the country under the Special Investment Facilitation Council (SIFC) and to ensure transparency and accountability in its business deals. Deputy Chairman Planning Commission Dr Jehanzeb Khan told economists and journalists that the visiting fund mission had raised questions as to the need for…
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ISLAMABAD: The government has requested an increase of Rs1.25 per unit on account of quarterly adjustment for the first quarter of the ongoing fiscal year (July-September 2023) to recover Rs22.56 billion from the consumers. The National Electric Power Regulatory Authority (NEPRA) on Tuesday reserved its decision with regard to quarterly power adjustment. The power distribution companies (XWDISCOs) filed a request…
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PARIS: World oil demand will rise slightly more than expected this year as China’s appetite for the fossil fuel hit a record and the Israel-Hamas war did not hit supply flows, the International Energy Agency said Tuesday. The Paris-based organisation said global demand is forecast to hit an all-time high in 2024, although it will grow at a sharply slower…
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