Russia has delayed its plan to reach an annual liquefied natural gas (LNG) production target of 100 million tonnes by several years, citing the impact of Western sanctions imposed over the conflict in Ukraine, Deputy Prime Minister Alexander Novak said on Thursday. Read More: EU approves 2027 Russian gas ban Speaking to state television Rossiya-24, Novak said […]
LNG
Saudi Aramco signs $30bn preliminary deals with US firms
DUBAI/WASHINGTON: Saudi Aramco announced on Wednesday that it had signed 17 preliminary agreements with US companies, with a potential total value exceeding $30 billion, during the visit of Saudi Crown Prince Mohammed bin Salman to Washington. The deals cover a range of sectors including liquefied natural gas (LNG), financial services, advanced materials manufacturing, and procurement. […]
Govt imposes permanent ban on new residential gas connections
The federal government has imposed a permanent ban on new residential gas connections using local natural gas, and ordered the cancellation of 3 million pending applications. According to reports, the Petroleum Division has sent a new policy framework, approved by the Federal Cabinet, to both Sui Southern Gas Company (SSGC) and Sui Northern Gas Pipelines […]
Government injects Rs 80 billion cash in listed IPPs; more to come
In the first installment of latest circular debt clearance, the government has settled 40% of the overdue receivables of Rs 200 billion for listed independent power producers (IPPs) while the remainder receivables are expected to be settled by Dec’21. Shahrukh Saleem, a senior analyst at AKD Securities Ltd informed that 40% settlement of dues is […]
PSX recovers from its lows, yet closes 0.4% down
Pakistan’s equity market witnessed a volatile week where the benchmark index closed Friday at 37,131 points, down 0.4 percent from last week. Average daily volume remained subdued at 122 million shares while average value traded slid 15 percent to US$33 million per day. At the verge of entering an IMF program, economic clarity continues to […]