The price of compressed natural gas (CNG) jumped on Saturday to Rs184 per kilogram in Sindh and Rs123 per litre in Punjab — an increase of Rs15 per kg and Rs8 per litre, respectively. The new rates notified by the CNG association came into effect on Saturday. “The government procured liquefied natural gas (LNG) from the international market at very…
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TotalEnergies SE, Air Liquide SA and Vinci SA pledged to contribute 100 million euros ($116 million) each to a fund created by Ardian SAS and FiveT Hydrogen that aims to invest 1.5 billion euros in clean hydrogen infrastructure. The commitments are the latest sign of the growing interest in the carbon-free fuel. Nations have pledged tens of billions of dollars…
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Shahid Salim, who was appointed on January 1, 2020 as Managing Director of Oil and Gas Development Company (OGDCL) for three-year tenure, resigned here on Tuesday after just 21 months, raising eyebrows of many. “The Board of Directors of OGDCL that is to meet within days will accord formal approval to the resignation tendered by Shahid Salim,” top official sources…
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Oil and Gas Development Company (OGDC) has made a gas and condensate discovery in its exploratory efforts at Wali well 01 located in FR Lakki, Khyber-Pakhtunkhwa. “Wali 01 well was drilled on December 2, 2019 as an exploratory well and it was drilled down to the total depth of 4,727 metres into Kawagarh Formation,” the company said in a statement…
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The National Electric Power Regulatory Authority (Nepra) on Wednesday firmed up about 97 paisa per unit additional monthly fuel cost to be recovered from consumers of K-Electric next month. However, it put on hold the final judgment for a couple of days to cross-examine some additional information they sought from the K-Electric. The additional fuel cost adjustment (FCA) is on…
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Engro Corporation, Pakistan’s premier conglomerate, has announced partnership with the Pakistan Pavilion at Dubai Expo 2020 to unearth hidden opportunities in investment and tourism presented by the country. Developed on the theme of “The Hidden Treasure”, this is the largest-ever pavilion of Pakistan set up outside the country. The pavilion will showcase the country’s vast potential in tourism, business, culture,…
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The National Electric Power Regulatory Authority (Nepra) said on Thursday the country’s electricity system was adversely affected in 2020-21 by underutilisation of the most efficient power plants run by regasified liquefied natural gas (RLNG), increase in circular debt, poor governance and fuel supply challenges, which unnecessarily burdened the consumers. In its “State of Industry Report 2020-21”, the regulator said “the…
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Fitch Ratings revised down its forecasts for the Pakistani rupee on Thursday for both this year and next due to a variety of factors including an increased flow of U.S. dollars into neighbouring Afghanistan. Fitch’s forecast for the rupee’s average rate this year is now 164 to the U.S. dollar compared with 158 previously. For 2022, Fitch now expects an…
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IT seems that the “abrupt” fall of Kabul has “flustered” the regional as well as international power politics due to which there are some symbolic re-arrangements of security meetings, pacts and alliances now going around the world. Chess-board of “power politics” is going to have new set-up to “topple” and “contain” Chinese socio-economic commitments towards greater regional connectivity, socio-economic integration…
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Pakistan witnessed an increase of $26 billion during the first three years of the present PTI government. Economic Affairs Division additional secretary Zulfikar Haider stated this in a meeting of the Standing Committee of the National Assembly for Economic Affairs Division held under the chairmanship of Mir Khan Muhammad Jamali. The additional secretary briefed the meeting on the impact of…
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