KARACHI: A liquefied natural gas tanker slipped out of the Strait of Hormuz on Monday bound for Pakistan, while a supertanker carrying Iraqi crude for China finally cleared the Middle East Gulf on Saturday after nearly three months stuck inside, shipping data showed.
Energy
Pakistan reopens offshore frontier after two decades with 23-block award
ISLAMABAD: Pakistan formally reopened its offshore oil-and-gas frontier on Wednesday after nearly two decades, signing production-sharing agreements and exploration licenses for 23 blocks in a bid to curb heavy reliance on imported fuel and revive interest in one of the region’s most underexplored maritime basins.
Pakistan seeks buyers for controlling stakes in three major power distributors
ISLAMABAD: The government invited expressions of interest from local and international investors on Tuesday for stakes of as much as 100% in three of the country’s largest state-owned electricity distribution companies, the latest effort to overhaul a loss-plagued power sector and ease pressure on public finances.
Hague court tightens limits on India’s occupied Kashmir dams in escalating Indus Waters Treaty dispute
ISLAMABAD: An international arbitration panel has delivered a fresh technical blow to India’s hydroelectric ambitions in occupied Kashmir, issuing a supplemental award that Pakistani officials say sharply restricts New Delhi’s ability to store and control water on the rivers the 1960 Indus Waters Treaty reserves largely for Pakistan.
Pakistan cuts petrol, diesel prices by Rs5 a liter effective Saturday
ISLAMABAD: The government reduced retail prices of petrol and high-speed diesel by 5 rupees a liter, the Petroleum Division said in a notification issued late on Friday.
Iraq, Pakistan strike deals with Iran for oil and LNG passage through Strait of Hormuz – report
KARACHI: Iraq and Pakistan have reached bilateral agreements with Iran to secure the safe transit of crude oil and liquefied natural gas through the Strait of Hormuz, Reuters reported on Tuesday, highlighting Tehran’s tightening control over one of the world’s most vital energy arteries amid the US-Israeli war.
Pakistan spurns $16.98-$17.28 LNG offers in fresh test of Urgent Import Push
ISLAMABAD: Pakistan on Thursday rejected the two lowest offers for emergency liquefied natural gas cargoes, spurning bids priced at $17.28 per million British thermal units from BP Singapore and $16.98 from TotalEnergies SE for deliveries later this month.
PM Sharif orders tariff stabilization, theft crackdown in power overhaul
Prime Minister Shehbaz Sharif directed authorities on Saturday to draw up a comprehensive strategy to stabilize electricity tariffs and deliver relief to both industrial and domestic users, as his government presses ahead with long-stalled reforms in Pakistan’s troubled power sector.
Pakistan halts power cuts after LNG cargo docks, ending month of outages
ISLAMABAD: Power Minister Awais Ahmed Khan Leghari said on Friday that planned power outages have ended nationwide after a liquefied natural gas cargo arrived the previous day, restoring stability to the electricity system following a month of fuel-driven disruptions.
PM Sharif extends fuel subsidies for motorcyclists and transporters by one month
ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday extended by one month the fuel subsidies for motorcyclists, public-transport operators and goods transporters, aiming to shield economically vulnerable segment from the sharp rise in global oil prices triggered by the conflict in the Middle East.