CMEC acquires 10 percent stake in Hubco’s subsidiary TEL for $3.93 million
The coal-fired power project is expected to commercial operation date by March 31st, 2021. Hubco presently produces 1,601MW via its three power plants in Narowal, Hub and Azad Kashmir
ECC asks Petroleum Division to submit comprehensive report on LNG terminal
ECC was told that contractual obligations of EETPL up to provide an annual average of 600 million cubic feet per day (mmcfd) of LNG and contractual quantity for the first year was 1.5 million tons per annum or an annual average of 200 mmcfd
Power prices hiked by Rs1.16 per unit
ISLAMABAD:Â The National Electric Power Regulatory Authority (NEPRA) on Wednesday increased Rs1.16 per unit in the electricity tariff on account of monthly fuel...
Pakistan seeks to build oil refinery near Gwadar port: minister
Local media have reported that Islamabad is hoping for a deferred-payment deal for Saudi oil to help shore up foreign reserves and possibly even a bridge loan of around $2 billion
Bill allowing U.S. to sue OPEC drawing renewed interest
Saudi Arabia, the world’s top oil exporter, is worried that NOPEC could turn into another Justice Against Sponsors of Terrorism Act (JASTA) law, which allows victims of the Sept. 11 attacks in the United States to sue Riyadh
Govt rebuffs Saudi offer to acquire LNG power plants under sovereign deal
According to sources, Saudi Arabia asked Pakistan to give free land, complete security and utility facilities for establishing an oil refinery having 100,000 barrel per day (BPD) capacity at Gwadar
Oil near four-year high as Washington’s Iran sanctions loom
Brent has risen by around 20 percent from the most recent lows in August
After gas tariff, price of LPG increases by Rs5
ISLAMABAD:Â The price of liquefied petroleum gas (LPG) has been increased by Rs5 following the 40 per cent hike in the gas tariff.
According...
Pakistan reaches out to Saudis for bailout
ISLAMABAD:Â After a formal request, Pakistan is likely to get $2 billion worth petroleum products from Saudi Arabia on deferred payments for two...
1,320MW CPHGC plant connects to national grid
ISLAMABAD:Â The 1,320 megawatts coal-fired power plant of the China Power Hub Generation Company (CPHGC), which is under construction in Hub, Balochistan, has...
Is the policy to keep petrol prices unchanged sustainable?
The govt responded to this conundrum by correspondingly decreasing the applicable sales tax rates on high-speed diesel from the current 22 percent to 17.5 percent for high-speed diesel (HSD), for petrol from 9.5 percent to 4.5 percent and kerosene oil from 6 percent to 1.5 percent
NCPL posts profit of Rs3.406 billion in FY18
The decline in net sales was attributed to the lower level of dispatches, down 30 percent YoY, however, furnace oil had undergone an increase of 27 percent YoY.
Brent crude touches four-year high, as Iran sanctions loom
Benchmark Brent crude oil futures rose to as much as $83.27 a barrel and were at $83.21 at 0339 GMT, up 48 cents, or 0.6 percent from their last close
Saudi delegation reaches Islamabad, may sign four MoUs
Riyadh is exploring the possibility of setting up an oil refinery at Gwadar and investing in LNG-based power projects in Punjab and a copper and gold project in Balochistan’s Reko Diq
Imran Khan’s bid to crowdfund $14 billion for Pakistan dam
The government’s plan is to build two facilities: the Mohmand dam in the country’s northwest, widely seen as feasible, and the much larger, troubled Diamer-Basha project in the north, first mooted in the early 2000s