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  • Ogra proposes Rs 2.91 increase in petrol price

    December 30, 2013 11:29 AM 6

    The Oil and Gas Regulatory Authority (OGRA) has advised the Ministry of Petroleum and Natural resources to increase the price of petroleum products by Rs 2.91 per liter. According to sources, Ogra has recommended to increase the price of petrol by Rs 2.91 per liter, High Speed Diesel Rs 2.63, Kerosene Oil Rs 1.38 and Light Diesel Oil Rs 1.80. Final decision

  • Drilling of 110 wells planned to enhance oil & gas production

    December 30, 2013 10:00 AM 5

    ISLAMABAD: The government has planned drilling of 59 exploration wells and 51 development wells to enhance oil and gas production in the country. Of the total planned, 11 discoveries have so far been made in the country during current fiscal year. At current gas production rate, the balance recoverable gas reserves of the country will last for about

  • China says local govt debt reached $3trn as of June

    December 30, 2013 9:00 AM 5

    BEIJING: China's local governments had total outstanding debt of 17.9 trillion yuan ($2.95 trillion) as of the end of June, the state auditor said on Monday, up 67 percent from 2010. The National Audit Office said total debt directly shouldered by China's central and local governments stood at 20.7 trillion yuan as of the end of June, amounting to 37 percent

  • Pakistan Railways earning Rs158mn from leased land

    December 30, 2013 8:21 AM 7

    ISLAMABAD: Pakistan Railways has leased out around 1000 acres of its land in various cities including Karachi Peshawar and Lahore and generated revenue of Rs. 158 million. An official in the Ministry of Railways told APP that the land was leased out for the purpose of commercial,agricultural, material stocking and parking purposes. On the directive of Minister

  • Surge in urea imports as domestic output falls

    December 30, 2013 7:59 AM 11

    Although shortage of urea in sowing seasons has become a perennial feature, the availability situation has worsened, with imports becoming costlier and frequent theft of the imported commodity while in transit. Currently, urea prices in the international market are fluctuating and the prices have shot up to $350 per tonne from$290 in August. Like Pakistan

  • Oil prices rise in Asian trade

    December 30, 2013 6:19 AM 10

    SINGAPORE: Oil prices edged higher in thin Asian trade Monday as investors focused on a fall in US crude inventories, indicating robust demand in the world's top consumer. New York's main contract, West Texas Intermediate (WTI) for February delivery, was up two cents at $100.34 in afternoon trade while Brent North Sea crude for February gained 19 cents

  • The Weekly Oil & Gas Follies

    December 30, 2013 2:00 AM 18

    In which we drill down into the @GDBlackmon Twitter feed to briefly chronicle the week’s silliness, foibles, fake news and real news related to the oil and natural gas industry. Ok, so, to read this Pittsburgh Gazette story, workers having lucrative job options is an “epidemic”, amounts to “poaching”, and is so horrible that is requires “preventive measures

  • Power shortfall reaches 1,700MW

    December 30, 2013 2:00 AM 5

    ISLAMABAD - Amid severe cold weather, power shortfall has touched 1700MW, as a result to this duration of the power outages increased in cities and rural areas of the country. Sources in the National Transmission and Dispatch Company (NTDC) informed that electricity shortfall has been increased due to reduction in Indus River System Authority (IRSA)

  • Japan stocks open 0.56 percent higher | BUSINESS

    December 30, 2013 1:33 AM 6

    TOKYO: Tokyo stocks opened 0.56 percent higher on Monday as the yen dropped to its lowest level in more than five years. The benchmark Nikkei 225 index was up 90.28 points to 16,269.22 at the start of trade. "Supply and demand conditions are good due to robust demand from foreign investors and signs of increased buying appetite of Japanese investors

  • PAT rally against inflation underway  

    December 29, 2013 9:41 AM 19

    LAHORE: Pakistan Awami Tehreek (PAT) rally against inflation, corruption, unemployment and the security situation in the country is underway. The rally started from Nasir Bagh and will march up to Faisal Chowk in front of the Punjab Assembly. Activists and supporters of the PAT are voicing slogans against inflation and disorder in the country. Educative