Pakistan to receive $21 billion investment from Saudi Arabia over next five years
Saudi Fund of Pakistan is poised to invest $1 billion in five hydropower projects, including Diamer-Bhasha and Mohmand dams over the next two to three years
Saudi visit highlights Pakistan’s search for investment
The largest deal signed on Sunday, a $10 billion refinery to be developed in the port of Gwadar by Saudi Aramco, will take up to five years to develop. But smaller deals, including the acquisition of two liquefied natural gas plants, alternative energy projects and food and agriculture investments should bear fruit more quickly
‘Gwadar refinery to help Pakistan achieve autarky in petroleum sector’
ISLAMABAD: A state-of-the-art oil refinery and petrochemical complex, being established at Gwadar deep seaport with around $11 billion Saudi investment, would open new...
NEPRA likely to increase power tariff by Rs1.93 per unit
ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) is likely to approve Rs1.9 per unit increase in power tariff under the head...
NAB summons NEPRA over case of unprecedented profits earned by IPPs
ISLAMABAD: The National Accountability Bureau (NAB) Lahore has summoned officials of the National Electric Power Regulatory Authority (NEPRA) to appear Monday, 18 February...
Saudi company ACWA to invest $4bn in Pakistan’s renewable energy sector
ISLAMABAD: Saudi power producing company ACWA Power on Sunday expressed its willingness to invest around $4 billion in Pakistan’s renewable energy sector.
This...
Construction on 427km Machike-Tarujabba oil pipeline to start soon: Sarwar
ISLAMABAD: Minister for Petroleum Ghulam Sarwar Khan has said that construction work on the 427-kilometer Machike-Tarujabba oil pipeline from Sheikhupura to Peshawar would...
Pakistan gets ready to woo Saudi crown prince
Saudi Arabia is reportedly preparing to sign a record investment package with Pakistan, including a $10 billion refinery and oil complex for the strategic Gwadar Port on the Arabian Sea
Sindh, Balochistan face gas shortage, as LNG terminal goes offline for maintenance
To mitigate the fall out from the shortage of gas, SSGC announced an additional 12-hour gas holiday for compressed natural gas (CNG) fuel stations across Sindh on Saturday in order to provide supply gas to domestic and commercial consumers
Pakistan to take another $1.4 billion loan to curb power sector arrears
Electricity shortages have eased in the last 12 months but years of mismanagement and funding shortfalls for subsidies have led to accumulated power sector payment arrears, or “circular debt”, soaring to 1.4 trillion rupees ($10.1 billion)
Petroleum Division likely to table revised gas tariffs before CCoE
The division was given 10 days to submit the findings of inquiry report into inflated gas bills to domestic consumers
ISLAMABAD:...
Power Division directed to form special team to address overbilling woes
The team will visit different locations to listen to the complaints regarding overbilling and will order remedial measures on the spot
ISLAMABAD: A...
Oil prices edge up on hopes for U.S.-China trade breakthrough
U.S. West Texas Intermediate (WTI) crude futures were at $53.76 per barrel at 2338 GMT, up 10 cents, or 0.2 percent, from their last settlement
Foreign banks eye financial advisory role in divestment of two LNG fired-power plants: Report
This divestment would rank as the country’s largest privatization deal since 2005 when Etisalat acquired a controlling stake in Pakistan Telecommunications Limited (PTCL) for $2.6 billion
CCoE gives approval for import of LNG
CCoE has instructed the petroleum division to move forward with the development of the LNG infrastructure needed to transport additional LNG from Port Qasim to Pak Land