Pakistan, Qatar discuss avenues to enhance cooperation
Federal Minister for Finance and Revenue, Senator Mohammad Ishaq Dar and Minister of Finance, State of Qatar, Ali bin Ahmed Al Kuwari during a meeting in Doha agreed to enhance cooperation in fields of science, technology, agriculture, education, trade, finance and investment. Special Assistant to Prime Minister on Government Effectiveness, Dr. Muhammad Jehanzeb Khan and…
Adil Aziz
Russian energy minister meets PM; long-term oil, gas supply from Russia to Pakistan discussed
A delegation led by Russian Energy Minister Nikolay Shulginov called on Prime Minister Shehbaz Sharif here wherein the two sides discussed the supply of oil and gas from Russia to Pakistan on a long term basis. During the meeting, both the sides agreed on the importance of energy sector for the development of bilateral economic and trade…
BB Energy keen to supply LNG, petroleum products to Pakistan
The BB Energy, an independent energy trading company expressed interest to develop a strategic business relationship with Pakistan and supply affordable petroleum products and LNG to the country. According to press statement issued by finance ministry, Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar held a meeting with a delegation of BB Energy…
KE requests highest ever FCA reduction of PKR 10/unit for December 2022
K-Electric has requested NEPRA to pass a reduction of PKR 10.26 per unit in customer bills under Fuel Charges Adjustment (FCA) for the month of December 2022. This request has been made under the FCA mechanism governed by NEPRA. The FCA is reviewed every month as per the tariff regime applicable across the country and…
ECC approves assignment of 34% working interest of POL, 6% of AOC to POGC in Kirthar South Block (Sindh)
The Economic Coordination Committee (ECC) approved the assignment of 34% working interest of M/s Pakistan Oilfields Limited (POL) and 6% of M/s Attock Oil Company Limited (AOC) to M/s Polskie Gornictwo Naftowe I Gazowinictwo S.A (Polish Oil and Gas Company) (POGC) in Kirthar South Block (Sindh). Federal Minister for Finance and Revenue Senator Mohammad Ishaq…
France provides € 120 Million for Keyal Khuwar Hydropower Project
The government of France would provide soft loans of € 120 million for Keyal Khuwar 128 MW Hydropower Project located in Khyber Pakhtunkhwa province. According to press release issued by Economic Affairs Division, Secretary, Ministry of Economic Affairs (MoEA), Dr. Kazim Niaz and Country Director, French Agency for Development, Philippe Steinmetz signed an agreement in…
Prices of petroleum products to remain unchanged
Minister for Finance and Revenue Senator Muhammad Ishaq Dar said that the government has decided to keep the existing prices of petroleum products unchanged for next 15 days to facilitate the masses in the country, particularly to provide relief to lower-income people during intense winters. Addressing a press conference, the minister said that these prices…
Pakistan, Saudi Arabia sign agreement to finance oil derivatives worth $1 Billion
Pakistan and the Kingdom of Saudi Arabia (KSA) signed an agreement to finance oil derivatives worth $1 billion. The agreement was inked by Secretary Economic Affairs Dr Kazem Niaz, and Chief Executive Officer (CEO) of the Saudi Fund for Development Sultan bin Abdulrahman Al-Murshed, an Economic Affairs Ministry news release said. Dr Kazem Niaz, on…
EETL saves Pakistan’s $3 Billion by handling 450 LNG cargoes substituting Furnace Oil import
Engro Elengy Terminal (Private) Limited (EETL) said it had successfully handled over 450 ship-to-ship [LNG] transfers since 2015, enabling Pakistan to save more than $3 billion through import substitution of the Furnace Oil. “In 2015, Engro developed the first-ever LNG terminal facility of Pakistan, built in a record 335 days. The terminal currently handles 68%…
Pakistan, Saudi Arabia expected to ink a US one billion dollar agreement in oil sector
Pakistan and Saudi Arabia are expected to ink an agreement of over US one billion dollars in the days ahead in the oil sector, through the Saudi Development Fund, a Saudi news channel. “The coming days will witness the signing of an agreement between the Kingdom and Pakistan through the Saudi Development Fund for Development…