Energy sector’s circular debt soars to Rs500 bn, govt to pay off Rs100 bn
KARACHI: Rising on a yearly basis, circular debt is especially prevalent in the oil and gas sector of the country. At present,...
Oil prices dip, as US crude inventories soar
U.S. oil production also hit a fresh record of 10.62 million barrels per day (bpd), a jump of more than a quarter since mid-2016
Delays caused Neelum-Jhelum project cost to balloon to Rs500 billion
The cost of this project had been revised upwards to Rs404 billion from Rs275 billion in December 2015 by the present government
OGRA recommends giving 33 licences for LPG sector
OGRA’s annual report for the year 2016-17 said it had issued around 21 licences to different companies pertaining to the regulated gas sector since 2002
50-Megawatt Jhimpir Power starts commercial operations
Jhimpir Power, Burj Capital’s first project, in its 500MW renewable asset platform in Pakistan achieved commercial operations with plant inauguration held by Burj Capital officials on Wednesday.
PIAF rejects hike in oil prices
LAHORE:Â The Pakistan Industrial and Traders Associations Front (PIAF) Chairman Irfan Iqbal Sheikh has condemned the government for increasing prices of petroleum products...
Oil prices rise, buoyed by Iran sanction worries
London Brent crude for new July delivery was up 21 cents at $74.90.
TAPI pipeline to be laid by 2019, as accelerated plan gets go-ahead
Gas will be supplied into the pipeline by Turkmenistan in absence of compressors and its diameter is set to be 56 inches, hence 1/3rd of gas flow will be available in the first phase
K-Electric applies for changes in generation licence, seeks addition of RLNG as alternative fuel
K-Electric’s available generation capacity stands at 1,902 megawatts out of which 913-megawatt gas dependent and needs 180 mmcfd of gas
Prices of petroleum to rise by Rs1.70 per litre from May
ISLAMABAD: The government is likely to increase petroleum prices starting Tuesday after the Oil and Gas Regulatory Authority (OGRA) sent a summary...
Engro poised to set up first Pak merchant LNG terminal
The $500 million joint venture with Shell, Gunvor, and Fatima Group will allow Engro to import, regasify and sell liquified natural gas without the need for government contracts.
Saudi Aramco appoints first woman executive to the board
DUBAI: Saudi Aramco, the world’s top oil company which is preparing to go public, said on Sunday it has appointed new members...
Oil inches down but Brent ends week firmer on Iran concerns
* Brent hits third straight weekly rise, WTI falls this week
* Prices set for 5-6 pct monthly gain on fears over Iran sanctions
Budget 2018-19: Govt earmarks Rs72,255mn for power division projects
According to the budgetary documents, an amount of Rs65,099.054 million has been earmarked for 47 ongoing hydel projects while Rs7,156 million have been assigned for 18 new schemes under the PSDP 2018-19.
ECC approves incentive package to start deep conversion oil refinery projects
ISLAMABAD:Â The Economic Coordination Committee (ECC) of the Cabinet has approved a landmark incentive package for setting up new state-of-the-art 'Deep Conversion Oil...