Iran, Azerbaijan, and Turkmenistan have signed a trilateral gas swap deal for up to 2 billion cubic meters per year, Iranian media reported. The agreement was signed on November 28 in the Turkmen capital, Ashgabat, on the sidelines of a regional economic summit. Under the swap deal – which boosts an existing agreement – Iran will receive gas from Turkmenistan…
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Engro Fertilizers Chief Financial Officer (CFO) Imran Ahmed has more than 20 years of diversified work experience in leadership and management positions in large firms in Pakistan and abroad. He recently spoke with Dawn on issues relating to deregulation of the fertiliser industry and the development of an effective mechanism for providing direct, smart subsidy to the small farm holder, and how…
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It was the advent of independent power producers (IPP) two decades ago that led to the branching of the Water and Power Development Authority into independent transmission and distribution entities. A much larger transformation is about to take place in the form of the competitive trading bilateral contracts market (CTBCM), which will herald the start of a fully competitive electricity…
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Sindh Energy Minister Imtiaz Sheikh condemned stopping the gas supply to CNG sector and industries and said that after cooling the stoves, the federal government jammed the wheels of industries also.Sindh Energy Minister said that stopping the gas supply to CNG sector will boost the unemployment across Sindh and thousands will lose their jobs.He said that the federal government is…
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November 29, 2021: Pakistan Water and Power Development Authority (WAPDA) Chairman Lt Gen Muzammil Hussain (Retd) visited Greater Karachi Water Supply Scheme – also known as K-IV – to review progress on the project.WAPDA General Manager Projects (South), K-IV Project Director and representative of the Consultants were present on the occasion. Expressing satisfaction over the pace of progress, the Chairman…
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Italian energy group Eni has agreed to sell gas group Snam 49.9% of its stake in strategic pipelines carrying Algerian gas into Italy for 385 million euros ($436 million), the two companies said on Saturday. The pipelines will be jointly controlled by the two companies, they said in a joint statement. Italy imports more than 90% of its overall gas…
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KOHAT: The Sui Northern Gas Pipelines Limited (SNGPL) restored gas supply to the affected areas and resolved the problem of low pressure in other parts on Friday night following a meeting of women protesters with the administration. The Pesco has also curtailed timings of outages by half and addressed the fluctuation issue. The unscheduled outages of one hour have been…
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Stocks in the outgoing week sustained worst weekly losses since Covid-19 outbreak, but there are bets Saudi dollars may spur a rally with the caveat of any macroeconomic shocks that can limit trade. Week-on-week, KSE-100 Shares Index, the benchmark of Pakistan Stock Exchange (PSX) lost 2,375 points or 5.11 percent to close at 44,114 points, the highest weekly decline since…
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Though Pakistan’s petrol retailers have called off their nation-wide strike after reaching an agreement with the government over an increase in profit margins, the country’s energy policies once again become a focus of questions that need answers. The issue of ‘low profit’ margins is debatable and the government is ultimately responsible for setting a reasonable margin that is neither too…
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The downward spiral in prices comes three days after a U.S.-led effort by top consuming nations to release stockpiled crude in an attempt to tame surging energy inflation. Next week’s OPEC+ meeting will now take on an even greater significance, as the producer group led by Saudi Arabia and Russia must decide whether to continue ratcheting up supply or pause…
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