Category: News & Announcement

nergy-producing nations have “weathered the COVID-19 demand devastation storm and non-compliance [with output cuts] should become the end-of-summer theme for OPEC+,” said Moya. On Monday, West Texas Intermediate crude for August CLQ20, -0.09% was down 13 cents, or 0.3%, at $40.49 a barrel on the New York Mercantile Exchange, after posting a weekly gain of 5% on Thursday, with U.S.…

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ISLAMABAD: Minister for Planning, Development and Special Initiatives Asad Umar on Sunday said WAPDA produced the highest ever hydel electricity in 2019-20 with an increase of 20 per cent, compared to the previous year. In his tweet, the minister said massive hydel capacity increase was taking place with Dasu, Mohmand and Diamir Bhasha Dams being built. “We need to rely…

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According to analysts predictions, global coal industry will never recover from the COVID-19 pandemic as the pandemic crisis proves that renewable energy is cheaper for consumers and a safer asset for investors. The transition from highly polluting fossil fuels to cleaner energy sources is accelerating even during the blockade, which has led to the closure of power plants in several…

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ederal prosecutors in the United States are looking to seize Iranian gasoline on tankers currently en route to Venezuela by filing a civil-forfeiture complaint, The Wall Street Journal reported on Thursday, as the U.S. steps up sanctions and pressure against both Iran and Venezuela. Four tankers loaded with gasoline are currently traveling to Venezuela, after the first of five tankers…

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By the grace of Almighty Allah, the joint venture of Baratai D&P.L comprising Oil & Gas Development Company Limited (OGDCL) as Operator (97.5%) & Khyber Pakhtunkhwa Oil & Gas Company Limited (KPOGCL) (2.5%) has started commercial production of Gas and Condensate from its exploratory well Dhok Hussain # 01, which is located in district Kohat, Khyber Pakhtunkhwa Province.The Early Production…

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July 01, 2020: Pakistan Atomic Energy Commission (PAEC) Wednesday announced that its Chashma Nuclear Power Plant Unit-4 has made a new record in Pakistan’s history by running for a year continuously, becoming the first electricity generation plant of the country to achieve this milestone. Previously, Chashma Nuclear Power Plant Unit-2 (Chashma-2), held the record of running for continuous 302 days. Member…

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The gas tariffs are NOT just Numbers. The Situation is not ‘business as usual’. Out of box solutions are needed today. In this era of Covid-19, lock down, melt down, the gas prices have colossal bearing upon: (a) National security (b) in-country peace (c) Job security (d) Exports safeguard (e) Foreign Exchange Earnings (f) Strengthening of Pak Rs to US$ (f) Livelihood…

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The Oil and Gas Regulatory Authority (Ogra) has imposed a fine of Rs5 million each on three oil marketing companies (OMCs) after they were found involved in creating artificial shortage of petrol in the country by hoarding the commodity in first 10 days of the current month. Hoarding and artificial shortage was witnessed soon after the government’s decision to pass…

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In a very short period of time after COVID-19 Pakistan has started the local manufacture of ventilators according to the standards of European Union. The first batch of ventilators named “PAKVENT-1” will be delivered to National Disaster Management Authority (NDMA) in the first week of July 2020. Federal Minister for Science and Technology Fawad Chaudhry in a video statement said…

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Bill Gates is warning that the US is still “very much in the thick of things” when it comes to COVID-19. And he believes that, given that many people refuse to wear masks and practice social distancing, that we are heading for another big round of infections in the fall. “Better treatment is reducing the deaths, but, particularly as you…

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