Rs128 million fraud in IESCO uncovered by auditors
IESCO is accused of having made excessive and incorrect payments to contractors and auditors have recommended them to be recovered
General Electric to setup 660MW coal power plant in Bin Qasim
This power project of Lucky Electric will be the first outside Thar district to be utilizing lignite mined by the Sindh Engro Coal Mining Company from Thar Block II besides having a backup of imported lignite coal
US plan to end Iranian oil exports ‘a fantasy’: Rouhani
GENEVA: A plan by the United States to cut Iran’s oil production to zero is a “fantasy”, Iranian President Hassan Rouhani said...
Rs180bn loan adjusted through consumer tariff
PML-N govt decided to finance commercial bank loans through a surcharge, Senate body told
Saudi Aramco plans to change Asia crude oil price formula, adopt DME Oman
The DME launched the Oman contract in 2007 and it is the most liquid physically deliverable futures contract for Middle East crude oil
Oil prices edge up as U.S. supply tightens, Iran sanctions loom
Brent crude futures were changing hands at $78.10 per barrel, up 34 cents, or 0.4 percent, from their last close
NEPRA increases power tariff by Rs1.22/unit
ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has jacked up electricity tariff by Rs1.22 per unit on account of monthly fuel...
Senate special committee on circular debt calls for alternative energy sector facilitation
ISLAMABAD: The Senate Special Committee on circular debt held a meeting on Tuesday to discuss the situation that has been caused due to the...
Oil sales down 5pc in FY18 after a gap of 5-years
This decline in sales comes after a 5-years lag when the industry posted a decline of 4 per cent in 2011-12.
Haroon Rashid to lead Shell in Pakistan
Haroon Rashid has been appointed as Shell Pakistan Limited’s (SPL) Chief Executive Officer and Managing Director with effect from July 01, 2018.
Govt to collect around Rs100bn from masses in July after a Rs14/liter POL price hike
The caretaker government will collect almost Rs100 billion from the masses in the month of July 2018 after a decision to raise the price of petroleum products (POL) by Rs14 per litre.
Oil plunges 1 percent amid Asian economic slowdown
Brent crude oil futures were at $78.16 per barrel at 0316 GMT, down $1.07, or 1.35 percent, from their last close
Hike in petroleum prices will make life difficult for masses, says FPCCI
KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI)’s President Ghazanfar Bilour has said the second hike in the petroleum...
Oil dips as trade dispute threatens growth
Traders worry that escalating tariffs on export goods, including U.S. crude oil, will stall trading and eventually choke world economic growth.
Vopak LNG expresses interest in acquiring minority stake in Engro’s LNG infrastructure
Talks are ongoing between Engro Corp and Volpak LNG which are subject to the parties entering into definitive agreements and obtaining required Board, shareholder and regulatory approvals