By NewzTodays Editorial Team | April 25, 2022

PSO has arranged five additional high-speed diesel (HSD) cargoes from March to May 2022 in response to increased demand for diesel, mostly owing to the harvesting season and limited product availability/imports by other market players. These cargoes will help ensure fuel stocks in Pakistan. These cargoes are in addition to the 11 planned following PSO’s…

By NewzTodays Editorial Team | April 25, 2022

The Engro has irked the government for increasing prices of urea despite receiving subsidized gas that accounts for around 80% constituent of urea price. The government has warned to conduct a forensic audit of fertilizer companies if they continue rising prices in Kharif season. In a meeting held here Monday in the Ministry of Industries…

By NewzTodays Editorial Team | April 22, 2022

Zeeshan Javaid  Daewoo Gas has signed a Master EPCF (Engineering Procurement Construction and Finance) with China National Chemical Engineering Construction Company to set up an offshore LNG terminal in Pakistan at a cost of $300 million. They signed the agreement at a virtual ceremony. Under the terms of the Master EPCF contract, CNCEC would design,…

By NewzTodays Editorial Team | April 22, 2022

Zeshan Javaid  Amid criticism from former Prime Minister Imran Khan, the US announced the start of a four-year, $23.5 million project in Pakistan to improve the country’s power sector. Pakistani Prime Minister Imran Khan has accused the United States of plotting to destabilize its government. He also claimed that the US had backed opposition to…

By NewzTodays Editorial Team | April 21, 2022

Pakistan has secured LNG contracts at the highest rates to meet the power sector’s needs and avoid power outages. Earlier, Pakistan had failed to secure six LNG contracts even at the highest rates as the traders had not participated. In response to an emergency tender floated in the international market, Pakistan LNG Limited (PLL) received…

By NewzTodays Editorial Team | April 21, 2022

Due to its exit from Russia and tough competition, Netflix fears losing 2 million subscribers in the first quarter of this year. Russia Today reported that after exiting Russia, Netflix lost $40 billion in revenue following a shocking subscriber loss. Netflix subscribers Following tough competition in the market and exit from Russia, the streaming service…

By NewzTodays Editorial Team | April 15, 2022

Prime Minister Shahbaz Sharif on Friday decided to keep oil prices unchanged effective from April 16, 2022. Premier turned down the proposed increase in the price of diesel up to Rs 51 per liter effective from April 16, 2022. Oil and Gas Regulatory Authority (Ogra) had proposed an increase in the price of diesel by…

By NewzTodays Editorial Team | April 15, 2022

The National Electric Power Regulatory Authority (Nepra) raised the power tariff by Rs 4.8 per unit on account of a fuel adjustment for February 2022. The CPPA-G had requested the power regulator to allow an increase of Rs.4.9441 per unit to burden the power consumers with Rs.38.4 billion. The power regulator conducted a public hearing…

By NewzTodays Editorial Team | April 14, 2022

Dr. Mussadik Malik will likely become the new petroleum minister in the new cabinet. During the PML-N government, he became chairman of the board of directors of Pakistan State Oil (PSO), a state-run oil marketing company. PSO had been dealing with the oil and LNG businesses. At present, LNG has become a key contributor to…

By NewzTodays Editorial Team | April 14, 2022

Irfan Khokhar, chairman of the Pakistan LPG Industries Association, has written to Prime Minister Shahbaz Sharif, requesting to resume operations of the JJVL LPG plant to meet local gas demand. Irfan Khokhar, Founder and Chairman of the LPG Industries Association of Pakistan, has made a request in a letter written to Prime Minister Mian Shehbaz…