Central Power Purchasing Agency –Guaranteed (CPPA-G) has shown willingness to renegotiate forced outage during conversion of imported coal-fired power plant of Port Qasim Electric Power Co. Ltd (PQEPCL) on ten percent blending of Thar coal, sources in PPIB told Business Recorder. CPPA-G conveyed this stance to PPIB, seeking amendment in the minutes of PPIB meeting held on early this month.…
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Copper prices slipped on Tuesday as the market focused on slowing growth and demand around the world, though some price support was provided by low stock levels in warehouses registered with the London Metal Exchange (LME). Benchmark copper on the was down 1.4% at $7,451 a tonne by 0938 GMT. Prices of the metal used by investors as a gauge…
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The Supreme Court on Tuesday issued notices to Barrick Gold Corporation (BGC), Balochistan government, Oil and Gas Development Company Limited (OGDCL), Pakistan Petroleum Company and others on the presidential reference regarding Reko Diq. A five-member larger bench of the apex court headed by Chief Justice Umar Ata Bandial and comprising Justice Jamal Khan Mandokhail, Justice Aijazul Ahsan, Justice Munib Akhtar…
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Saudi Arabia’s energy minister Prince Abdulaziz bin Salman said on Tuesday some countries were using their emergency stocks to manipulate markets when their purpose should be to mitigate any shortages of supply. The comment appeared to be a criticism of U.S. President Joe Biden’s decision to sell oil from the nation’s emergency oil reserve as he tries to lower gasoline…
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For the year as a whole, NEA had already declared in June that it was expecting at least 108 gigawatts of photovoltaic capacity to be added. This could almost double the record from 2021 with just under 55 gigawatts. Given the current nine-month additions, the restrictions imposed by the Zero Covid policy seem to jeopardize the achievement of the goal. In view of…
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Schlumberger (NYSE: SLB) is known as of Monday under its new name—SLB—to reflect its transformation from an oilfield services provider to a global technology company helping the energy transition, the world’s largest oilfield services provider said in a statement today. By rebranding to SLB, the company is dropping the family name of its founders, brothers Conrad and Marcel Schlumberger, who founded the firm in…
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Pakistan on Monday proposed the inclusion of “Water Resources Management & Climate Change” as new area of cooperation under the framework of China Pakistan Economic Corridor (CPEC) for efficient water resources management, development of climate resilient infrastructure. The proposal was made in the third meeting of Joint Working Group (JWG) between the government of Pakistan and People’s Republic of China…
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Governance weaknesses and problems in Pakistan are direct outcome of prevalent duality in its power structure, run by different de jure as well as de facto entities. This duality bearing on civil and military establishments, in non-compliance with constitutional obligations, has thrown the democratic political system out of equilibrium. This aspect of the political system, along with several others, was…
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Officials from the Asian Development Bank (ADB) said on Monday that its $1.5-billion Building Resilience with Active Countercyclical Expenditures (BRACE) programme will provide timely liquidity to Pakistan and help mitigate the immediate impact of exogenous shocks. In a meeting with Prime Minister Shehbaz Sharif, they said that the funding will also allow the government to roll out its relief and…
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National Iranian Gas Company (NIGC) has reached new agreements with Turkey’s state-owned BOTAS Petroleum Pipeline Corporation on gas exports to the neighboring country, a senior official with NIGC announced on Sunday. National Iranian Gas Company Dispatching Director Mohammadreza Jolaei said that some expert-level meetings have been held between the two sides and new agreements have been reached. According to Jolaei,…
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