Power division set to use furnace oil instead of RLNG to generate power

ISLAMABAD: Power Division is all set to increase the use of furnace oil for power generation. As a result, power prices will witness an...

Iran says no OPEC member can take over its share of oil exports

Iran is the third-largest oil producer in the Organization of the Petroleum Exporting Countries after Saudi Arabia and Iraq

Russian oil industry would weather U.S. ‘bill from hell’

While the ruble has fallen more than 10 percent and Russian banking stocks have slumped 20 percent since the legislation was introduced, shares in Russian oil firms have climbed 2 percent, leaving them 27 percent higher so far in 2018

Energy minister presents guidelines for improving power sector

Minister for Energy Barrister Syed Ali Zafar said the issues of Diamer Basha and Mohmand Dams have to be resolved immediately and once and for all and run of the rivers projects like Sukki Kinari have to be implemented

Incoming PTI government set to inherit Rs1.1 trillion of circular debt

The committee was told PHPL is entitled to pay Rs153 billion in annual interest on the loans obtained

Two RLNG based power plants face shutdown, as outstanding dues swell to Rs30 billion

There are concerns two major power plants producing 10 percent of overall peak summer generation would shut down in a week’s time if their outstanding dues of Rs30 billion aren’t cleared

PGPC refuses to clear duty while Customs decides to initiate proceedings: sources

ISLAMABAD: A new controversy has emerged as Pakistan Gas Port Consortium (PGPC) has so far refused to pay customs duty and withholding tax worth...

JS Group acquires 48% stake in coastal power company

ISLAMABAD: The JS Group has acquired 48% shares in Habibullah Coastal Power Company (HCPC), an independent power producer which has recently won a case in...

Oil edges up as China, U.S. set for trade talks

International Brent crude oil futures were at $70.93 per barrel at 0335 GMT, up 17 cents, or 0.26 percent, from their last close

JS Group to acquire 48 percent share in Habib Coastal Power

A senior government official said JS Group would also be a beneficiary of Rs6 billion damages owed to HCPC by Sui Southern Gas Company (SSGC) on account of an international arbitration case won by the former,

Fund dedicated to Diamer-Bhasha, Mohmand dam receives lukewarm response from overseas Pakistani’s

According to the latest update issued by the State Bank of Pakistan (SBP) on Wednesday, total collection from within Pakistan was recorded at Rs854.8 million

Sindh energy dept resolves to address investor concerns on wind energy projects

KARACHI: The Sindh government has held out the firm assurance that it could do its best to resolve, in the shortest possible time, the key...

Pakistan’s PSO awards first fuel oil import tender in two months: sources

PSO still has outstanding tenders to import up to 585,000 tonnes of HSFO in September and again in October, but one trade source that has previously supplied PSO with fuel oil said he expected weak demand to keep the company’s actual import volume limited over the coming months

PPL discovers oil, gas in Sindh’s Kotri Block

KARACHI: Pakistan Petroleum Ltd announced on Monday that it has made a gas and condensate discovery at exploratory well Yasar X-1 from its wholly-operated...

Oil edges up on Saudi output cut and Iran sanctions, but slowing economic growth drags

In July, Saudi Arabia told the producer group of the Organization of the Petroleum Exporting Countries (OPEC) that it had curbed production by 200,000 barrels per day (bpd) to 10.288 million bpd

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Alipay set to commence services in Pakistan by end-2018

Back in March, Alibaba’s Ant Financial said it would invest $184.5million for a 45 percent stake in Telenor Microfinance Bank (TMB), a subsidiary of Telenor Group, to further develop TMB’s mobile payment and digital financial services

The fate of the Taseers

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