Author: Admin

China’s November Crude Throughput Rises 3.9% as Fresh Import Quotas Lift Refining

Admin
China-Oil

BEIJING: China’s crude oil throughput increased by 3.9% year-on-year in November, supported by a new round of crude import quotas for independent refiners that helped offset maintenance outages at some state-owned refineries, official data showed on Monday. According to the National Bureau of Statistics, the world’s largest oil processor refined 60.83 million metric tons of crude in November, equivalent to about 14.86 million barrels per day (bpd). This was broadly steady compared with October’s 14.94 million bpd. Around 1.2 million bpd of refining capacity was offline during the month due…

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PIBT Secures Approval to Handle Reko Diq Copper-Gold Exports

Admin
Reko-Diq

Pakistan International Bulk Terminal Limited (PIBT) has entered into a strategic agreement with Reko Diq Mining Company (Private) Limited to handle its copper-gold concentrate cargo, while also securing supplemental concessions from the Port Qasim Authority (PQA) to facilitate mineral exports. The development was disclosed by PIBT in a notice to the Pakistan Stock Exchange (PSX) on Monday. According to the notice, PIBT has executed a supplemental implementation agreement with PQA, granting the terminal additional concessions, rights, and licences for the handling, storage, and export of copper-gold commodities. These include minerals,…

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Egypt Proposes Unified Arab Emergency Oil and Gas Purchase Mechanism

Admin
Oil-Gas

CAIRO: Egypt has put forward five new initiatives aimed at strengthening Arab energy security, including the creation of a unified mechanism for coordinated emergency purchases of oil and liquefied natural gas (LNG), the petroleum ministry said on Sunday. The proposals were presented by Egyptian Minister of Petroleum and Mineral Resources Karim Badawi during a ministerial meeting of the Organization of Arab Petroleum Exporting Countries (OAPEC) held in Kuwait. Among the key initiatives is the development of a comprehensive Arab energy interconnection map to enhance regional integration and improve the reliability…

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‘Paralysis’ at ISGS Brings Strategic Energy Projects to a Standstill

Admin
Power

ISLAMABAD: Inter State Gas Systems Pvt. Ltd. (ISGS), Pakistan’s flagship entity mandated to implement major cross-border energy projects, has been pushed into virtual paralysis due to what officials describe as “gross interference” by its own board of directors, stalling multibillion-dollar strategic gas initiatives despite years of public spending and effort. According to senior officials familiar with internal assessments, ISGS has failed to make progress on key national projects assigned to it by the Petroleum Division. Once responsible for advancing the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline and the Iran-Pakistan (IP) pipeline, the…

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Govt Rejects Third-Party Validation Proposal for Neelum-Jhelum Hydropower Project

Admin
Neelum-Jhelum

ISLAMABAD: The federal government has rejected a proposal by the Ministry of Water Resources to conduct third-party validation of the Neelum-Jhelum Hydropower Project (NJHPP), citing the existence of an already constituted inquiry commission to probe the project’s massive cost overruns and poor performance. The decision was taken during a meeting of the Central Development Working Party (CDWP) held on Friday under the chairmanship of Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal. The forum argued that an additional validation exercise was unnecessary as an inquiry commission was already…

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