#cross-border liquefied petroleum LPG pipeline project

[nepalenergyforum]

LPG or Electric? Nepal’s Pipeline Pursuit Explained

Nepal appears desperate to build a multi-million dollar cross-border liquefied petroleum gas (LPG) pipeline project and has started serious homework for the same. However, there is a paradox in the policy. Nepal is also preparing a 12-year plan to boost energy production and expand the market. The target is to produce over 28,000MW of electricity by 2035. Electric stoves are considered safer than…

[lovacedon]

Briefs

Briefs

Iran, Pakistan to boost regional ties

TEHRAN: Iranian foreign minister Mohammad Javad Zarif and Pakistani PM's Adviser Sartaj Aziz discussed issues of mutual interest and implementation of bilateral trade projects signed between the two countries, a statement said on Thursday.

Aziz, expressing gratitude to the Islamic Republic for sympathising with the Pakistani nation and government on recent terrorist attacks, called for boosting regional cooperation to counter the irreparable consequences of terrorism.

He expressed satisfaction with his visit to Tehran and meeting senior Iranian officials, including Zarif.

Backing the acceleration of collaborative measures and cooperation regarding the joint trade projects, Aziz said Islamabad seeks to speed up the plans.

Zarif, for his part, condemned the recent terrorist attacks in Pakistan and expressed Iran's willingness to cooperate in eradicating terrorism in the region.

The Iranian foreign minister also said Tehran and Islamabad enjoy "good political relations," and added the two neighbours were set to implement projects in different economic sectors, including power transmission, energy, banking, customs and cross-border exchanges.

"We expect that with the joint efforts to strengthen the relations and accelerate projects' implementation, the two countries witness a boom in bilateral trade relations which will benefit the region as well," he added.

  Hascol gets land for LPG terminal

By our correspondent

KARACHI: Hascol Petroleum Limited on Thursday said that it has acquired five acres of land at Port Qasim and has filed an application to acquire additional 10 acres for developing a liquefied petroleum gas (LPG) terminal.  “Hascol has also applied for the marketing and distribution license of LPG with Oil & Gas Regulatory Authority (OGRA),” the company said in a notice issued to Pakistan Stock Exchange (PSX). 

According to the bourse filing, Hascol is engaged in the purchase, storage and sale of petroleum products including high speed diesel, gasoline, fuel oil and lubricants. 

“Hascol also markets LPG and currently there are 15 AutoMax LPG stations across Pakistan in various stages of approval with the Government of Pakistan,” the notice added.

In October 2016, the company announced it would set up a lube oil blending and grease-making plant worth Rs1.8 billion at Port Qasim --expected to be commissioned in two years .

  UBL Prepaid MasterCard launched

News Desk

KARACHI: The United Bank Limited (UBL) and MasterCard recently held a joint ceremony for the launch of the first-ever “UBL Prepaid MasterCard” in Pakistan, a statement said on Thursday. UBL becomes the first commercial bank in Pakistan to provide its customers with this unique offering, it added. The UBL Prepaid MasterCard will allow the bank customers to conveniently make purchases without having to carry cash. The prepaid card can be obtained from more than 1,375 UBL branches countrywide with a convenient verification and documentation procedure, it added.

  ICI to acquire Linde Pakistan

By our correspondent

KARACHI: ICI Pakistan has announced to acquire 60 percent of voting shares of Linde Pakistan Limited on Thursday, a statement said.

ICI plans to acquire 15.023 million shares through an agreement of Linde Pakistan owned by the BOC Group, UK and its four nominee shareholders, itadded.

Lucky Holdings Limited owns 74.55 percent shares in ICI Pakistan; followed by Gadoon Textile Mills with 6.48 percent and Lucky Textile Mills Limited having 5.5 percent shares in ICI Pakistan, the statement said.

Linde Pakistan Limited is a member of the Linde Group, world’s leading supplier of gas and engineering solutions.

It manufactures and distributes industrial, medical and specialty gases, as well as welding products and provides a range of related services, including the installation of on-site plants, gas equipment, pipelines and associated engineering services.

  Prize distribution ceremony held

News Desk

KARACHI: Samsung Electronics held a vibrant prize distribution ceremony at a mall on February 21, where retailers showing outstanding performances, won brand-new motorcycles, a statement said on Thursday. This high-valued prize scheme promised reward and motivates the Samsung retailers to achieve higher sales. This retailer-promotion campaign received an enormous response from the market, itadded. The ceremony was a part of a series of events, to be held in every important city, to present motorcycles and other fabulous prizes to the best performing retailers, the statement added.

  Shaheen Air gets another Airbus A319

News Desk

KARACHI: Shaheen Air International (SAI) has inducted a second Airbus A319 into its fleet, a statement said on Thursday.

The new aircraft comes wrapped in a new livery that builds on the revamped brand identity and philosophy of Shaheen, it added.

The Airbus A319 has been custom-fitted with thin and linear seats to provide added comfort to passengers. Due to this, it can accommodate around 150 passengers in its all-economy segment, it said. It has a brand new interior; thereby, giving a refreshing experience to the people choosing to travel by Shaheen Air.

  Nepal invites traders in summit

By our correspondent

LAHORE: The government of Nepal has offered on-arrival visas to Pakistani businesspersons in a bid to promote two-sided trade and investment, a statement said on Thursday.

“Pakistani trade associations must participate in Investment Summit 2017 scheduled to be held in Kathmandu next month,” Ambassador of Nepal M.S. Sewa Lamsal Adhikari said at a meeting with Lahore Chamber of Commerce & Industry (LCCI) officials. "For Nepal, Pakistan is one of the most important countries in the region; however, lack of proper logistics, communication, and marketing is hampering bilateral trade.

Thus, by participating in this event, Pakistani business sector will get a chance to explore investment opportunities in Nepal."

  Barclays bank swings back into profit

London: British bank Barclays returned to profit in 2016 after slashing provisions set aside for legal and compensation costs linked to foreign exchange and insurance scandals, it said Thursday.

Barclays reported annual net profit of £1.62 billion ($2.0 billion, 1.92 billion euros) compared with a loss after tax of £394 million in 2015, it said in an earnings statement.

The bank set aside no amount at all in 2016 for "ongoing investigations and litigation including foreign exchange", whereas it had taken a hit of more than £1.0 billion over the matters in 2015.

Barclays did provide £1.0 billion last year to compensate customers who were mis-sold a UK insurance product, although this was substantially lower compared with a bill of £2.65 billion for 2015.

Regarding day-to-day operations, Barclays chief executive Jes Staley that the bank´s core businesses in the UK and abroad were performing well, with pre-tax profits up four percent to £6.4 billion.

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