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
Plan to safeguard oil, gas installations in final stages
Transport, aviation fuel stocks for defence needs are needed to be retained for 25 days via oil marketing companies (OMCs) and another 45 days by the civil sector at every airport and seaport
Rs838.88mn collected for Bhasha, Mohmand dams fund: SBP
ISLAMABAD: The fund dedicated to the construction of Diamer Bhasha and Mohmand dams has so far received over Rs839.88 million from various...
CPEC to turn Pakistan into a great investment destination: LCCI
LAHORE: China-Pakistan Economic Corridor (CPEC) project is bound to turn Pakistan into a great investment destination and it would start a new...
PEPCO continues to function despite directions for dissolution by the former cabinet
ISLAMABAD: Despite the directions passed by the Peshawar High Court (PHC) in 2011 and a decision by the then federal cabinet for...
Various hydropower projects along River Indus neglected due to govt inefficiencies
ISLAMABAD: The previous government of Pakistan Muslim League Nawaz (PML-N), which facilitated the coal, LNG and solar powered plants to meet the...
K-Electric powering Karachi’s progress for over 100 years, says KE CMO
KARACHI: Pakistan is a vibrant and rich society full of potential with the means to realise it. As responsible citizens, it is...
NEPRA imposes Rs 5 million fine on GENCO-II
NEPRA has imposed a fine of Rs5 million on M/s Central Power Generation Company Limited GENCO-II, a government-owned power generation company.
The fine...
Promising support, Japanese ambassador urges Pakistan to diversify its exports
KARACHI: The Ambassador Extraordinary and Plenipotentiary of Japan to Pakistan Takashi Kurai has said that Japan and Pakistan have enjoyed mutually beneficial...
China interested in joining TAPI pipeline project – Pakistan official
ISLAMABAD: China is exploring building a spur from Pakistan’s territory once the multi-country TAPI natural gas pipeline project begins operating, a Pakistani official...
Energy ministry rejects claims of discovering oil reserves larger than Kuwait’s: sources
ISLAMABAD: The Energy ministry has negated caretaker foreign minister’s tall claim of discovering huge oil reserves reportedly bigger than Kuwait's in Pakistan...
Ogra awards licence for refinery in KP
ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has awarded a licence to Khyber Refinery (Pvt) Ltd to set up a new...
Power sector default surges to close in on Rs1 trillion
ISLAMABAD: Receivables from electricity consumers have continued to pile up and the figure has swelled to Rs896 billion – a long-standing problem that...
Minor oil and gas discovery in Kohat, declares OGDCL
ISLAMABAD: The Oil and Gas Development Company Limited (OGDCL) has reported a minor discovery of oil and gas deposits in the Kohat district...
SNGPL encashes Rs14b bank guarantee to avoid default: sources
ISLAMABAD: Sui Northern Gas Pipelines Limited (SNGPL) has encashed a Rs14 billion worth bank guarantee (standby letter of credit) to avoid a possible...