KARACHI:The government is likely to approve a policy this week to upgrade its existing refineries and enhance their capacity and efficiency, industry officials said on Monday. The policy, known as the ‘brownfield refining policy’, has been pending for several months and the government wants to finalise it before its term ends next week. “The government has communicated its intention to…
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ISLAMABAD: China and Pakistan decided to accelerate the second phase of the China-Pakistan Economic Corridor, hailing the progress on development initiatives in the decade since the project’s launch in 2013. In a special ceremony held to commemorate 10 years of CPEC on Monday, six new documents were signed for joint cooperation. The celebrations, however, were kept simple out of respect…
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ISLAMABAD, July 31, 2023: While successfully implementing cutting-edge technologies and industry’s best practices, the Oil and Gas Development Company Limited (OGDCL) has recorded a substantial production increase during the month of July 2023. The company has achieved remarkable enhancements in oil and gas production across various exploration and development wells. These significant milestones mark the company’s commitment to delivering excellence…
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Oil and Gas Development Company Limited (OGDCL) has registered a significant increase in oil and gas production from four of its wells located in Sindh. The oil and gas exploration company on Monday shared the details of its production enhancement recorded in the month of July via notice to the Pakistan Stock Exchange (PSX). OGDCL attributed the production enhancement to…
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Federal Minister for Energy Khurram Dastgir on Monday said Pakistan expects investment from Gulf countries in the renewable energy sector. Addressing media persons, the federal minister stressed on the increased usage of renewable energy. “In the coming days, we will be offering Gulf countries investment opportunities in the renewable energy sector. This is part of the SIFC (Special Investment Facilitation…
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State Minister for Petroleum Dr Musadik Malik said the government would protect international investors that are interested in the country’s mining sector. Addressing a press conference on Monday, the state minister said the government has established a one-window operation to facilitate foreign investment. “In the shape of SIFC (Special Investment Facilitation Council), we have established a one-window operation, which would…
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ISLAMABAD: Nepra has accorded approval to the levelised tariff at 7.78 cents (Rs22.34) per unit for 30 years of 300MW Gwadar coal-based power plant to be constructed under the CPEC umbrella. The project will be commercially operational in three years’ time and the plant availability will be 85 percent. The regulator has determined the tariff on the basis of debt-equity…
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LAHORE: As the sun rises and street lights turn off in Lahore, capital of Pakistan’s eastern Punjab province, Zubair Tufail, an electrical engineer also starts his daily work at a converter station of ±660 kilovolt Matiari-Lahore high-voltage direct current (HVDC) transmission project in a suburb of Lahore, where he works as team supervisor of operations. A 26-year-old native of Lahore,…
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ISLAMABAD: China has nominated Jiang Zaidong as the new ambassador to Pakistan after six months, it was learnt on Sunday. According to reports, Jiang Zaidong will assume the charge soon. He is a senior official at China’s Ministry of Foreign Affairs and an experienced diplomat. New envoys for China, Russia appointed The post of a permanent Chinese ambassador to Pakistan…
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ISLAMABAD: Finance, Revenue Minister Ishaq Dar claimed in the Senate on Sunday that Pakistan’s foreign exchange reserved increased from “$ 8 billion dollars to around $ 14 billion due to the prudent economic policies of the government.” He said the government “managed to achieve this objective with the generous support from friendly countries like Saudi Arabia, Qatar and China”. “China…
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