Congressional Democrats accused the petroleum industry of paying lip service to climate change Thursday, releasing an analysis that showed little effort by oil majors to advance green policies in Washington. A memo prepared ahead of Thursday’s hearing with Big Oil chief executives said the industry — while professing to support the Paris Climate Agreement and carbon pricing — has done…
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The Management Association of Pakistan (MAP) has organised 36th Corporate Excellence Awards here at local hotel on Thursday. Addressing the awards ceremony, former chairman Federal Board of Revenue (FBR) Shabbar Zaidi said Pakistan is one of the countries which could achieve tremendous economic growth by reducing the size of corporate compliances. He said future of Pakistan lies on family owned…
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The Joint Technical Committee (JTC) of Pakistan and Russian on the Pak Stream Gas Pipeline (PSGP) concluded its fourth session here on Thursday, reaffirming their commitment towards the strategic project and to finalize the Share Holders Agreement (SHA) next monthThe Joint Technical Committee (JTC) of Pakistan and Russian on the Pak Stream Gas Pipeline (PSGP) concluded its fourth session here…
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The Oil & Gas Regularity Authority (OGRA) has proposed the development of large-scale storage for petroleum products similar to India and China to absorb abrupt price hikes in international market. The petroleum industry regulator presented a proposal to this effect in the meeting of Standing Committee on Cabinet. However, industry officials and analysts believe such a project is not only…
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Oil and Gas Development Company Limited (OGDCL) being operator of Jandran West Exploration License with 100 percent working interest has made a gas discovery over Mughalkot Formation from its exploratory efforts at Jandran West X-1 well which is located in Kohlu District, Balochistan province. Jandran West X-1 well was spudded on 19th May 2021 as an exploratory well and drilled…
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Ministry of Energy (Power Division) on Wednesday expressed its inability to ensure required supply of Regasified liquefied Natural Gas (RLNG) – a cheap fuel compared to RFO to the power plants, until new LNG terminals are established. This stance was clearly communicated by Power Division’s team, led by Additional Secretary, CEO, Central Power Purchasing Agency-Guarantee (CPPA-G) Waseem Mukhtar at a…
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To reach an agreement with the International Monetary Fund (IMF) for revival of its programme, the government on Wednesday announced that it’s going for ‘rationalisation of taxes’ to bridge over Rs450bn gap in revenues it had given up on petroleum products to keep their prices one of the lowest in the world. “We will have to definitely rationalise taxes but…
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Earnings per share were Rs68.21 during Q1FY22 slightly up from Rs67.96 in Q1FY21, notice to the Pakistan Stock Exchange said. Arif Habib Limited in its report said the company’s net sales witnessed an uptick of 2 percent YoY, settling at Rs20.726 billion in contrast to Rs20.363 billion in the same period last year amid increase in oil and gas production…
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Pakistan and Russia have successfully concluded the 4th Russia-Pakistan Joint Technical Committee meeting in Islamabad on 28th October, 2021. The parties discussed the draft Shareholders Agreement (SHA) of the Pakistan Stream Gas Pipeline Project (PSGP). The Pakistan side technical committee was headed by Dr. Arshad Mahmood, Secretary Petroleum Division, Ministry of Energy. The meeting was also attended by senior officials…
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Qatar, the world’s top supplier of liquefied natural gas, will invest in Pakistan’s next import terminal in a bid to support one of the fastest growing buyers of the super-chilled fuel. Qasim Terminal Holding Co., a subsidiary of Qatar Energy, has applied for clearance with Pakistan’s government to take a stake in Energas Terminal Pvt., according to people familiar with…
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