Oil prices rise more than 1% on trade talks, supply cuts
Financial markets were being lifted early on Monday on expectations that face-to-face trade negotiations between delegates from Washington and Beijing, due to start on Monday, would lead to an easing in tensions between the two biggest economies in the world
Govt directs domestic refineries to use ‘deemed duty’ for upgradation of facilities
According to a notification issued by the Ministry of Energy (MoE), the government has directed refineries to sign commercial agreements with power producers for using their capacity for furnace oil storage
Pakistan, UAE finalise talks to build oil refinery, says Fawad Chaudhry
ISLAMABAD: Minister for Information and Broadcasting Chaudhry Fawad Hussain on Sunday said that the United Arab Emirates (UAE), would build an oil...
Neelum-Jehlum to produce electricity at full capacity from April
ISLAMABAD: Neelum Jhelum Hydroelectric Power Project is bracing up for full generation during the next high flow season that is due to...
Iran says despite U.S. sanctions, it has found new ‘potential’ oil buyers
Washington seeks to bring Iranian oil exports to zero in order to curb Tehran’s missile and nuclear programs and counter its growing military and political influence in the Middle East
Gas shortage and power plants tripping cripples’ national grid
Pakistan Electric Power Company (PEPCO) on Friday disclosed total power generation stood at 9,800 megawatts, whilst demand was 12,500 megawatts, resulting in a shortfall of 2,700 megawatts
RLNG supply not feasible to fertilizer plants, facing liquidity crunch says, SNGPL
To avoid a liquidity crisis, SNGPL has requested the Ministry of Finance to release subsidy amount worth Rs1,332,184,376 against gas provided to both fertilizer plants from December 8th to December 31st, 2018 on an immediate basis
Report puts entire blame of gas crisis on MD’s of SNGPL & SSGC
According to officials, the major beneficiaries of the recent gas crisis was the oil mafia which was successful in promoting the utilization of imported furnace oil in power plants in contravention of the merit order
NTDC to depute anti-fog insulators for controlling tripping in foggy weather
To rein in these incidents, the NTDC has floated tenders and it is anticipated the anti-fog insulators will be installed at Port Qasim by March 2019
‘Mohmand Dam construction contract to CGGC-DESCON made on merit’
WAPDA chairman says int’l bidding for eligible firms was invited for procurement in accordance with PPRA and PEC provisions
ISLAMABAD:Â Water and Power...
Oil and LNG imports decline 11% YoY in December
During the first half (July-December) of the financial year 2018-19, imports declined by 17% YoY excluding LNG (-29% YoY)
Oil opens 2019 with losses on surging supply, signs of economic slowdown
International Brent crude futures for March were at $53.27 per barrel at 0421 GMT, down 53 cents, or 1 percent, from their final close of 2018
CPEC feeding 300MW of wind energy to national grid
Four wind projects that had been completed under CPEC and are connected with the national grid include Dawood wind power project (50 MW), Sachal Energy wind farm (50MW), three gorges second wind farm project (100MW), and UEP wind farm project (100MW)
Circular debt stands at Rs755 billion
The ministry’s secretary, while giving a briefing to the committee, said presently the country’s installed capacity for electricity production was 33,836 megawatts (MW), while the derated capacity was about 31,000MW
Plunge in oil prices threatens Iraq’s postwar recovery
Brent crude oil, used to price international purchases, briefly rose above $85 a barrel in October but has since plummeted to less than $55 — a nightmare for a country like Iraq that derives 95 percent of its revenue from oil exports