ISLAMABAD: Pakistan International Airlines (PIA) Chief Executive Officer (CEO) Air Marshal Arshad Malik on Tuesday announced an Rs100,000 reward for an air hostess of the national flag carrier, ARY News reported. PIA air hostess has set an example today after she returned lost cash to the vigilance team for return to its owner at Jinnah International Airport, Karachi. As per…
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Two RLNG pipelines from south to north will be built: ISGS MD
ISLAMABAD: In a new development, the government has decided to build with GIDC (Gas Infrastructure Development Cess) funds two RLNG pipelines, each with capacity to transfer 1.6 bcfd (billion cubic feet gas per day), with diameter of 56 inches. The country is going to have more LNG terminals on private-to-private business model in the next three years time, with total…
Read MoreOil Prices Sink Ahead Of Industry Reports
Major oil benchmarks dipped on Monday ahead of two major oil industry reports that are set to be released on Tuesday of this week. The IEA is set to publish it’s World Outlook 2020 on Tuesday, followed by OPEC’s Monthly Oil Market Report (MOMR). Both are much-anticipated industry reports that are set not only to shed light on oil production…
Read MoreGovernment gives green signal to Gwadar International Airport
ISLAMABAD: The government on Monday approved, in principle, the New Gwadar International Airport project at a cost of Rs55.4 billion, about 147% higher than the first revision, and also sanctioned a reduction in the scope of an important Gwadar road scheme. The decisions were taken by the Central Development Working Party (CDWP) – a body having mandate to scrutinise and approve…
Read MoreByco partners with HBFC
KARACHI: Byco Petroleum Pakistan Limited entered into an alliance with the House Building Finance Company Limited at a ceremony held at Byco’s head office in Karachi, a statement said on Monday. Azfar Saeed Baig, Byco’s VP, AHR, and Faisal Murad, group head, Business and Operations, HBFC, signed the memorandum of understanding in the presence of senior executives from both the…
Read MoreCircular Debt
EDITORIALS: Energy sector’s circular debt has reached 2.3 trillion rupees against 1.2 trillion rupees inherited by the Pakistan Tehrik-i-Insaaf (PTI) government a little over two years ago – a rise of nearly 92 percent. The percentage rise in the circular debt is unprecedented in the annals of the historically appallingly poorly managed energy sector and can simply not be palmed…
Read MoreOmar Ayub invites investors to explore open market regime in Pakistan’s LNG sector
ISLAMABAD: Federal Energy Minister Omar Ayub Khan has invited foreign investors to seek huge investment and business opportunities by exploring the open market regime in Pakistan’s LNG sector. The energy minister was addressing the LNG Producer-Consumer Conference 2020, Japan, through a video link. He said that Pakistan had been a gas producing country with daily production of over 4 billion cubic…
Read MorePakistan’s largest bike-maker goes solar
KARACHI: The largest motorcycle manufacturer in Pakistan, Atlas Honda, has received a nod from the regulator to setup solar power generation arrangements at its manufacturing site in Sheikupura. Atlas Group’s subsidiary Atlas Energy would install solar generation facilities having a cumulative 2.5MW capacity for its motorcycle manufacturing plant in Sheikupura. The installed capacity was proposed after critically analysing the current…
Read MoreHazardous waste being dumped without EIA, tribunal told
KARACHI: An environmental tribunal on Tuesday recorded testimony of a witness in a case pertaining to issuance of approvals by the Sindh Environmental Protection Agency to private companies for collection and disposal of hazardous and infectious waste allegedly without conducting environmental impact assessment. The three-member tribunal headed by its chairman retired Justice Sadiq Hussain Bhatti was hearing a complaint filed…
Read MoreIraq Discusses Gas Investment At Its Largest Oilfield With BP
Iraq discussed on Tuesday plans for investment in associated gas production at its largest oilfield, Rumaila, Iraq’s Oil Minister Ihsan Abdul-Jabbar Ismail said in a statement to Shafaq News agency. With BP as operator, the Rumaila oilfield produces 1.5 million barrels per day (bpd) of oil, or around a third of the crude oil pumped in OPEC’s second-largest producer after…
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