The government has so far released around 91.6 percent funds against the total allocation of Rs 1,8441.230 million to execute eight petroleum sector projects under the Public Sector Development Programme (PSDP 2020-21). According to the official data as of February 26 that showed a slight readjustment in funds’ allocation and releases, an amount of Rs1686.644 million had been provided for…
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International Women’s Day 2021 is an opportunity to recognise and celebrate the contribution and accomplishments of today’s growing female workforce and the key role that women play in our lives, said a press release issued by the K-Electric on Sunday. At K-Electric, it is yet another opportunity for the power utility to reinforce its mission of driving a narrative of…
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ISLAMABAD: Pakistan will import 450 cargos in 10 years from Qatar under G-to-G (govt to govt ) new LNG deal with effective rate of 10.13 percent from January 1, 2022 though the deal is done at 10.20 percent of the Brent. The port charges per LNG cargo at Qasim Port stands at $620,000-750,000, but Qatargas would pay the port charges…
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ISLAMABAD: Carbon dioxide (CO2) is endangering the climate. Most countries have made 2050 the target year for achieving zero net emission of CO2. Solar and wind power has wide opened the doors of green electricity, which will greatly help to reduce CO2. However, thermal energy and liquid fuel issues still have to receive some solutions. In the case of thermal energy, green electricity…
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ISLAMABAD: Pakistan’s liquefied natural gas terminals are overstressed and LNG value chain is very fragile from all parameters against global standards and could face operational and safety risks, contrary to common perception in public discourse that terminals are underutilised. “Even with the low ratios of ‘re-gas to storage’ and ‘LNG import capacity to storage’, the overall utilisation rate of LNG…
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ISLAMABAD: The Cabinet Committee on Energy (CCoE) on Thursday did not immediately allow reduction in port charges on handling of liquefied natural gas (LNG) demanded by the Petroleum Division and ordered an independent assessment to reach a decision on charges competitive in the region. At a meeting of the CCoE presided over by Minister for Planning and Development Asad Umar,…
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ISLAMABAD: The International Monetary Fund (IMF)-backed first review of Pakistan’s bleeding public sector enterprises has identified 44 entities for privatisation, including the power companies that are causing big losses, despite a 50% reduction in losses in the first year of current government. The review of 84 commercial state-owned enterprises (SOEs) has been completed as part of the structural benchmarks set by the IMF…
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Islamabad: Volunteers including men, women and children collected 120 large bags of garbage and trash from three viewpoints of Margallah Hills on Thursday. The spring cleanup activity at Pirsohawa Road was organised under the Prime Minister’s campaign of ‘Clean and Green Pakistan’ by the SMEC Oil & Gas in collaboration with Islamabad Wildlife Management Board (IWMB). The Margallah Hills National…
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ISLAMABAD: Despite financial constraints and substantial increase in the prices of petroleum products at the international market, the Pakistan Tehreek-i-Insaf (PTI) government has not passed on its impact to the common man by maintaining the rates at lowest level as compared to regional countries. Pakistan is standing atop in providing the low-priced petroleum products for the welfare of its masses…
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KARACHI: The first 450 MW unit of RLNG-based BQPS-III project is scheduled to come online by May 2021 which would help improve K-Electric’s generation fleet efficiency from 38% in FY 2020 to 48% in FY 2023. Chief Financial Officer KE, Aamir Ghaziani, in a corporate briefing held via webinar on Wednesday, reiterated KE’s commitment with taking Karachi to a power…
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