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In a significant development, Pakistan Refinery Limited (PRL) has inked pivotal license agreements with industry leaders Honeywell UOP and Axens for its ambitious Refinery Expansion and Upgrade Project (REUP). The project’s primary objective is to double PRL’s refining capacity from the current 50kbpd to 100kbpd while transitioning the existing hydro skimming configuration to a deep…
Amid Global Collaborations, both parties are expected to sign a “legal documentary agreement” to formalize the resolution Reuters Photos In the arena of Israel-Hamas negotiations and the unfolding dynamics of a hostage exchange, a cautiously optimistic tone emerges for the imminent finalization of a deal. Despite encountered challenges, an expectation lingers that the agreement will…
Tesla, X, formerly known as Twitter and SpaceX’s CEO Elon Musk attends the AI Safety Summit at Bletchley Park in Bletchley, Britain on November 1, 2023. — Reuters Elon Musk yielded to White House pressure and big Brands, announcing on Saturday via his social media platform X that users employing the anti-Semitic slogan “from the…
A new challenge is emerging in the Electric Vehicles (EV) industry. The impending shortage of key EV battery material casts a shadow on its growth and poses a potential disruption to the delicate balance of supply and demand. It also challenges the low-carbon transition, as cleaner energy relies on making lots of batteries. Addressing these…
Pakistan Refinery Limited (PRL) has signed and executed the upgrade agreement with the Oil and Gas Regulatory Authority (OGRA) to upgrade its plants, the company reported on Thursday. Pakistan Refinery Limited (PRL) has emphatically pledged its commitment to national progress by steadfastly adhering to the mandatory provisions outlined in the Pakistan Oil Refining Policy for…
By DSong In October 2023, sales of new vehicles in China’s Auto Market witnessed a 14 percent surge, reaching 2.853 million units. But the question is how it gave this promising growth when the economy is slowing down. As per the China Association of Automobile Manufacturers (CAAM) data, this was a significant increase from 2.505 million units…
Pakistan Refinery Limited (PRL) is anticipated to finalize an agreement with the Oil and Gas Regulatory Authority (OGRA) on Thursday, aligning with the ‘brownfield refinery policy’ to avail incentives aimed at enhancing existing plant development. An official from the refinery, who opted to remain anonymous, confirmed the impending signing. The official disclosed that the requisite…
The Kuwait Foreign Petroleum Exploration Company (KUFPEC) and the Pakistani Oil and Gas Development Company (OGDCL) have officially inked a Memorandum of Understanding (MoU), solidifying a collaborative alliance between the two energy giants. The comprehensive MoU outlines a strategic framework for the joint assessment of potential business prospects, both within Pakistan and in international upstream…
Ukraine has secured an agreement with the global insurance broker and risk advisor Marsh McLennan, along with Lloyd’s of London registered brokers, to provide insurance coverage for ships exporting grains amid the Russia-Ukraine Conflict’s geopolitical risks. On social media handle, the Ukrainian minister for the economy Yulia Svyrydenko announced that this $50 million program will…
Pakistan is the country where the insurance sector penetration (life and non-life) is less than one percent of GDP, and its gross premium is only $1.9 billion, which is almost the lowest in the world. The Securities and Exchange Commission of Pakistan (SECP) said it is 0.87 percent of GDP. The regulator attributed it…
This photo is taken from ‘Fact Focus’ A top Pakistani military general, Lt. Gen. Shafaat Ullah Shah, a close associate of former dictator General Pervez Musharraf has been found in a series of alleged financial improprieties. This includes a web of concealed foreign properties in Manhattan, London, and Dubai, coupled with dubious financial dealings…
Amnesty International is calling on the Government of Pakistan to immediately cease the ongoing detentions, deportations, and widespread harassment of Afghan refugees. The human rights organization expressed concern that thousands of Afghan refugees are being used as political pawns, facing potential return to Taliban-controlled Afghanistan where they may be at risk amidst a severe crackdown…
In accordance with International Monetary Fund (IMF) conditions advocating the privatization of state-owned entities, Pakistan has chosen the British multinational firm ‘Ernst & Young’ as the Financial Advisor for the privatization of its national flag carrier, Pakistan International Airlines (PIA). The decision was made by the country’s privatization commission board on Friday, marking a significant…
WhatsApp, one of the most popular messaging apps, has introduced a set of text formatting tools to elevate the messaging experience on its web client. The release follows the recent rollout of the “search message by date” feature for WhatsApp’s desktop version, and it is initially available to select beta testers. According to WABetaInfo, a…
Caretaker Pakistani Prime Minister Anwaar-ul-Haq Kakar strongly condemned Israel’s war on Gaza on Thursday, particularly the killing of Palestinian children. He drew a parallel to the biblical story of the “pharaohs” who, on the eve of Prophet Moses’ birth, ordered the killing of children, Geo Television reported. Kakar’s remarks were delivered during the 16th Economic…
Indus Motor Company (IMC), the renowned Toyota car assembler to introduce the Pakistan-made Corolla Hybrid Electric Vehicle by mid-December, Ali Jamali, the CEO revealed on Wednesday. Jamali said, “very soon” we will launch the Hybrid Electric Vehicle (HEV) while underscoring the significance of Toyota’s hefty $100 million investment in Pakistan’s HEV production. This investment not…
Pakistan’s Deportation Policy Can Drive a Surge in Afghan Poppy Cultivation.
FDA identified 26 eyedrops of six companies that could cause blindness. It asked consumers not to use and companies to recall the products from market.
The president of Panama Laurentino Cortizo signed into law a national moratorium on issuing new metal mining permits after weeks of mass protests in the country against a controversial Canadian project. The legislation of this Central American state also explicitly banned the renewal of the existing concessions after their terms expire. This metal mining ban…
Shell Plc has formally conveyed to the Pakistan Stock Exchange (PSX) that it has decided to exit Pakistan and sell its 77.42 percent shares to Saudi Arabian Wafi Energy LLC. Shell Petroleum Company Limited, a subsidiary of Shell plc, has agreed to sell its majority interest in Shell Pakistan Limited (SPL) to this Saudi company,…