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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 4

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 4

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 4

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 5

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 7

May 16, 2018 12:00 AM ExxonMobil eager to bring LNG supplies to Pakistan

Islamabad: ExxonMobil LNG Market Development, Chairwoman, Emma Cochrane, has said that Pakistan was a key strategic market for ExxonMobil and the company was eager to bring LNG supplies to fuel the country’s strong projected growth, says a press release. Whilst delivering her speech on LNG Market Development, during GEO, Board of Investment Conference 7

April 24, 2018 12:00 AM Pakistan, Iran agree to discuss IP gas line project

ISLAMABAD: Pakistan and Iran have agreed to discuss the way forward for implementation of IP gas line and to this effect the authorities concerned of both the countries will hold curial parleys in Tehran either by end of the current month or in early next month. The way forward will be worked out for materializing the project in the presence of US sanctions 14

April 14, 2018 1:15 AM Iran eyes CPEC with growing interest after port visit

KARACHI: Iran’s Minister for Roads and Urbanisation Abbas Akhoundi expressed keen interest in exploring avenues available under the China-Pakistan Economic Corridor (CPEC). The minister is leading a high level Iranian delegation which visited Karachi Port Trust (KPT) on Friday. Akhoundi also showed interest in transshipment cargo handling. He said that Iran is keen to work with Pakistan 4

April 4, 2018 12:00 AM Oil sales fall 7pc to 1.79MT

KARACHI: Oil sales fell seven percent year-on-year to 1.79 million tons in March due to a sharp decline in furnace oil sale, although consumption of retail fuels continued to increase on growing auto demand and infrastructure activities, brokerage reports said on Tuesday. Furnace oil sales slid 43 percent to 367,524 tons in March over the same month 15

April 2, 2018 12:00 AM Imminent verdict against them panics Sharifs: Imran

LAHORE: Predicting an end to the ‘mafia’ ruling the country, Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan has said his party will safeguard the rights of all people including minorities after coming to power. Addressing the party activists at different camps, set up by the PTI in connection with its ongoing membership campaign, Imran Khan said here on Sunday 14