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Qatar Fund for Development Explores Opportunities in Pakistan’s Power Sector

Admin
Power-generation

The Chief Executive Officer of the Qatar Fund for Development (QFFD), Khalifa bin Jassem Al-Kuwari, expressed interest in expanding the fund’s involvement in Pakistan’s power generation and housing sectors during a two-day visit to Pakistan from March 23-24, 2024. The visit aimed to strengthen bilateral cooperation and explore opportunities for collaboration in key development areas. During discussions with Minister for…

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Oil Executives Remain Skeptical of Rapid Shift to Green Energy Amid Profit Boom

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solar-energy

At the annual CERAWeek conference in Houston, oil executives voiced skepticism about a swift transition to green energy, citing ongoing high demand and record profits in the fossil fuel industry. This sentiment contrasts with global climate commitments made at COP28, where leaders pledged to increase renewable energy usage significantly by 2030. Despite growing concerns over climate change and record temperature…

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Pakistan Plans to Offer OGDCL Shares to Gulf Investors for Better Price

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OGDCL-1

Pakistan is considering offering shares of the Oil and Gas Development Company Limited (OGDCL) to friendly nations in the Gulf region, including Saudi Arabia, the United Arab Emirates (UAE), Qatar, and Kuwait. The goal is to secure a better price for the shares, given the challenges faced during previous attempts to divest OGDCL’s shares on the stock market. Past efforts…

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Ogra Conducts Public Hearing on SNGPL’s 147% Tariff Hike Request

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OGRA

The Oil and Gas Regulatory Authority (Ogra) is conducting a public hearing in Lahore today on a petition by Sui Northern Gas Pipelines Limited (SNGPL) seeking a 147% increase in gas tariffs. SNGPL has requested an increase of Rs2,646 per mmBtu, aiming to set the new price at an average rate of Rs4,446.89 per mmBtu, which would result in a…

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Oil executives talk down rapid shift to green energy as profits boom

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solar-panel

Houston: Big Oil used an industry conference this week to argue against a rapid transition to green energy, as fossil fuel companies are emboldened by high demand and record profits despite rising alarm over climate change. Executives attending the annual CERAWeek get-together in Houston expressed confidence that fossil fuel consumption would continue growing, just months after world leaders at the…

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Oil sector seeks urgent LC limit hike to avert industry collapse

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oil-and-gas

KARACHI: The Oil Marketing Association of Pakistan (OMAP) has sought an immediate increase in the letters of credit (LCs) limits for oil marketing companies (OMCs), citing the country’s dire financial straits. “The pressing concerns surrounding foreign exchange losses, OMC margins, sales tax, smuggling of Iranian diesel, infrastructure development cess, and the revision of the price mechanism have pushed this vital…

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Govt to offer OGDCL shares to Gulf investors

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ogdcl

Pakistan hopes to get better price from Saudi Arabia, UAE, Qatar and Kuwait ISLAMABAD: Pakistan’s government is expected to ask friendly nations to invest in the country’s largest hydrocarbon explorer – Oil and Gas Development Company Limited (OGDCL) – in order to fetch a better price for the company. Background discussions with officials privy to the development revealed that Pakistan…

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PM Shehbaz Sharif hands over ECC to finance minister

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finance-minister

ISLAMABAD: Only a day after announcing formation of seven committees of the cabinet, Prime Minister Shehbaz Sharif has decided to hand over the chairmanship of the Economic Coordination Committee (ECC) to Finance Minister Muhammad Aurangzeb, sources in the government told Dawn. The prime minister, however, will continue to head the Cabinet Committee on Energy (CCoE), they said, adding the prime minister took the…

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‘Longer IMF programme could lead to debt trap’

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IMF-board

Dr Ashfaque Hasan Khan warns against IMF dependency, calls for domestic reforms KARACHI: NUST Institute of Policy Studies (NIPS), Director General, Dr Ashfaque Hasan Khan, has stated that Pakistan should seek the new International Monetary Fund (IMF) loan package of $3-4 billion for a maximum period of three years, as a longer and larger programme would be an economic disaster,…

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