The federal government is likely to grant mining sector a industry status aimed at facilitating its development as per rules of provincial governments, sources in Petroleum Division told Business Recorder. As per Constitutional provisions, minerals other than mineral oil, natural gas and nuclear substances and those occurring in federally controlled areas [Islamabad Capital Territory and offshore beyond the territorial waters] are…
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Value chain of RLNG in country , By 2030, Ogra forecast suggests that the country’s gas shortfall will be almost 4,000 mmcfd. This gas deficiency resulted in decline in electricity generation from 12.15% during July-April 2021 to 8.5% in July-April 2022. Owing to the depleting gas reserves, Pakistan entered into the LNG market and availed a cheaper cost of electricity…
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Saudi Arabia and Greece have agreed to form a technical team to carry out studies about the prospect of Saudi Arabia exporting electricity and hydrogen to Europe via Greece. This proposal was contained in the joint statement issued by the two countries at the end of the two-day official visit of Crown Prince Mohammed Bin Salman to Greece. The statement…
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The International Monetary Fund (IMF) said on Wednesday it would discuss with Bangladesh its loan request after the country became the third in South Asia to seek such support after Pakistan and Sri Lanka. Bangladesh’s $416 billion economy has been one of the fastest-growing in the world for years, but rising energy and food prices because of the Russia-Ukraine war…
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Bangladesh has asked the International Monetary Fund for support in riding out a financial shock triggered by volatile energy prices after the Russian invasion of Ukraine, officials said Tuesday. The South Asian nation has experienced lengthy blackouts in recent weeks, sometimes for up to 13 hours a day, as utilities struggle to source enough diesel and gas to meet demand.…
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Power projects including 1124 MW Kohala and 700.7 MW Azad Pattan HPPs as well as 1,320 MW Thar Coal power plant project will be taken up in the coming meeting of the Pakistan-China Joint Energy Working Group (JEWG) which would be held in the first week of the next month (August). The Power Division highlighted the agenda for the forthcoming…
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uropean Union officials are discussing on Monday revisions to plans unveiled last week for cutting natural gas use by 15% by next spring after several EU member states expressed concerns about the target for reduction, a draft document seen by Bloomberg showed. Last week, the European Commission unveiled measures for the EU to conserve gas in the face of risks…
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Russia’s Gazprom said on Monday it was halting another turbine in the Nord Stream 1 pipeline to Germany and the flow of gas, already at just 40% of capacity, would fall by another half from Wednesday. The new blow to supply comes at a moment of high tension as Russia and the West exchange economic blows in response to Moscow’s…
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he Economic Coordination Committee (ECC) of the Cabinet has decided to increase the RLNG rate to $9 per MMBTU for five export-oriented sectors across Pakistan and gave approval for an increase in indigenous gas price for export-oriented sectors at Rs1,350 per MMBTU and for the general industry at Rs1,550 per MMBTU. The meeting of the ECC presided over by the…
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Minister of Finance Miftah Ismail on Monday presided over a meeting of the Economic Coordination Committee (ECC) during which electricity and gas rates for five export sectors were approved. According to the ECC meeting, gas will be supplied to export sectors at the rate of $9 per mmbtu. A decision was also made to supply electricity to five export sectors…
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