Category Archives: Oil, Gas and Power

International Power selling its total shareholding of 17.4% in Hub Power Company Hubco

Karachi: International Power Monday announced it has entered into two separate sets of sale and purchase agreements in connection with its holdings in Hubco and Uch 1 assets in Pakistan. International Power is selling its total shareholding of 17.4% (approximately 202 million shares) in The Hub Power Company Ltd (Hubco) at a price of 31

International Power enters into SPA with Dawood Group, Allied Bank to sell its entire holding of 201mn shares

ISLAMABAD: National Power International Holding BV (International Power), the major shareholder of Hubco (17.44% holding) has entered into share sale purchase agreement (SPA) with Dawood Group and Allied Bank to sell its entire holding of 201mn shares, says a press release issued her on Monday. Pending regulatory approval including consent from Government of Pakistan transaction

Pakistan plans to import 500 mmcfd Liquefied Natural Gas from Qatar

ISLAMABAD: The National Assembly was informed Thursday that Minister for Petroleum and Natural Dr. Asim Hussain has said Pakistan plans to import five hundred mmcfd LNG from Qatar to meet its energy requirements. He told the National Assembly during question hour that an agreement to this effect has been signed with Qatar. He said the

Fate of 551 CNG pumps hangs in balance

ISLAMABAD: The Ministry of Petroleum and All Pakistan CNG Association (APCNGA) on Monday failed to reach any decision over the suspension of gas supply for 551 CNG stations in the Punjab. A high-level delegation of APCNGA led by Ghiyas Abdullah Paracha met Mohammed Ejaz Chaudhary Secretary Petroleum here to discuss matters related to CNG industry.

LPG price increase by Rs 5,353 to record high of Rs 118,429 per ton

KARACHI: Liquefied Petroleum Gas (LPG) price was on Saturday raised by Rs 5,353 to record high of Rs 118,429 per ton in accordance with Saudi Aramco Contract Price (CP), says chairman FPCCI Standing Committee on LPG & patron-in-chief All Pakistan LPG Distributors Association (APLDA) Abdul Hadi Khan. He said Saudi Aramco CP surged to record

European Union to financially support Munda Dam, establish micro hydro projects

ISLAMABAD: Ambassador of Head of European Union EU Delegation to Pakistan, H.E. LarsGunnar WEIGMARK on Thursday called on the Federal Minister for Water and Power, Syed Naveed Qamar and expressed their interest to financially support Munda Dam project and to establish micro hydro power projects in various parts of the country. He said that EU