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October 5, 2018 2:03 AM Ogra notifies up to 143pc increase in gas prices

ISLAMABAD: After three weeks of hiatus, the government on Thursday notified up to 143 per cent increase in natural gas tariff with the aim of generating about Rs111 billion. The federal cabinet had approved the tariff increase on Sept 17. On Thursday, the Oil and Gas Regulatory Authority (Ogra) issued for the formal notification with back dated effect 1

September 25, 2018 12:00 AM Aramco Trading aims for 50pc rise in oil trade volume in 2020

SINGAPORE: Saudi´s Aramco Trading Company (ATC) expects to increase its oil trading volume to 6 million barrels per day (bpd) in 2020, 50 percent higher than current levels, the company´s top official said on Monday. "Currently, we´re at 4 million barrels per day and with expansion I think our target is 6 million barrels per day," President and Chief 3

September 18, 2018 12:00 AM ECC approves increase in gas prices

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Monday approved increase to natural gas prices ranging from 10 to 143 percent. Varying rate hikes would be applicable to domestic consumers, commercial users, and industrial, fertiliser, power, cement and compressed natural gas (CNG) sectors. Gas prices for export-oriented sectors 11

September 17, 2018 12:39 PM 10-20pc increase in gas prices for majority, 143pc increase for 'upper class'

Following a meeting of the Economic Coordination Committee (ECC) on Monday, Minister of Petroleum Ghulam Sarwar Khan broke down the increase in gas prices across the country for media personnel. Flanked by Information Minister Fawad Chaudhry, Khan explained that the government had categorised gas consumers into seven slabs instead of the pre-existing 2

August 31, 2018 12:00 AM Petronas boosts payout to govt

KUALA LUMPUR: Malaysian state-owned energy firm Petroliam Nasional Berhad is looking to expand its core business portfolio and plans to pay the government a higher dividend than earlier promised, its chief executive said on Thursday. The comments came as Petronas, as the company is known, reported a near doubling of profit in the second quarter, helped

July 21, 2018 12:00 AM Dutch firm to buy $38 million stake in Elengy Terminal

KARACHI: Royal Vopak, the world’s leading tank storage firm, said on Friday it would buy 29 percent stake in the Pakistan’s first liquefied natural gas import facility in a deal valuing an estimated $38 million. Engro Corporation Ltd. and Royal Vopak of the Netherlands announced the signing of a share purchase agreement in which Vopak will acquire a 29 percent 7

July 4, 2018 12:00 AM Mutual cooperation, not military aid, discussed with US: envoy

WASHINGTON: Pakistan’s Ambassador to the United States Ali Jahangir Siddiqui said no specific talks were held with the United States on military aid rather mutual cooperation was discussed. He said that Pakistan has no problem with the US-Indian ties. Ali Jahangir Siddiqui has said peace in Afghanistan is his top policy priority and his country remains 9

July 3, 2018 12:00 AM RLNG enables Pakistan to save $2-3 billion on power generation

ISLAMABAD: With the import of LNG, Pakistan has so far benefited by $2-3 billion through replacing furnace oil and diesel with imported gas as fuel for power generation. At present LNG of 1-1.2 billion cubic feet per day is being injected into Pakistan’s economy which is playing a pivotal role in catering to the various sectors of the economy. Top sources 7

June 21, 2018 12:00 AM Over 2,700 candidates facing multiple charges

ISLAMABAD: In Pakistan’s democracy, corruption, money laundering, rape, murder and criminal charges really can pay. Yes, because around 2,715 out of around 21,482 candidates running for 1,070 seats in the Provincial Assemblies (PAs) as well as the National Assembly (NA) elections face corruption, criminal, rape, dual nationality, money laundering, extortion 8

May 23, 2018 12:00 AM NAB chief orders various complaint verifications

ISLAMABAD: Chairman National Accountability Bureau Justice (retd) Javed Iqbal on Tuesday ordered complaint verification against the Petroleum Division and other federal ministries for establishing companies allegedly in violation of law. The complaint verification was initiated on the complaint filed in the NAB that two years back, the Ministry of Petroleum 8