Pakistan offers China partnership in $9b PARCO coastal refinery
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February 8, 2021
ISLAMABAD: The government has decided to seek investment from China for becoming a shareholder in the state-of-art PARCO coastal refinery and petrochemical complex of $8-9 billion, to be built at Hub, Balochistan.
In addition, Islamabad has also asked Beijing to invest in projects, including upgradation of existing refineries, setting up of underground gas storages, exploration and production activities and national seismic surveys in frontiers and hard areas, such as some pockets of Balochistan and bordering areas of Pakistan and Afghanistan.
And now in the next 10th Pak-China JCC meeting, the PARCO coastal refinery project among others is the main project on part of Pakistan that will be included in the agenda. More importantly, projects like LNG storages and exploration and production projects will be also offered to China in the 10th JCC meeting. “Pakistan wants the investment in r
Decision to reduce VAT of petrol, diesel in Rajasthan a bold move by Gehlot government
CM Ashok Gehlot has been very critical of Union govtâs policy on oil prices, pointing out that despite a drop in international crude oil prices, fuel prices in the country have kept on increasing
Rajasthan Chief Minister Ashok Gehlot
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The Ashok Gehlot governmentâs decision to reduce two per cent VAT on both petrol and diesel has resulted in the reduction of oil prices in the state. The price of petrol was down by Rs 1.34 and diesel by Rs 1.31.
This was a bold decision by the Gehlot government at a time when Covid has impacted revenue collection in the state.
Rajasthan woos global players to invest in Barmer PCPIR
January 25, 2021
Rajasthan Chief Minister Ashok Gehlot - PTI×
CM Gehlot to hold virtual discussions with over 100 top global giants Eyeing a big play in the petroleum and value-added petrochemicals space, Rajasthan Government lays down a red carpet for the global oil and petrochemical majors to set up operations in the upcoming Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR) at Barmer.
A top state government official informed that the first phase of development would see around ₹15,000 crore from top global players.
The State Industries department is in discussions with US major Exxon Mobil Corporation, British-Dutch major Shell, Chinese leader Petro China, Mitsubishi Corporation, Wacker Polymer besides some of the top Indian players including Reliance Group, Vedanta, and SRF Group.
Source: Xinhua|
Editor: huaxia
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ISLAMABAD, Dec. 17 (Xinhua) Bull-run continued at the Pakistan Stock Exchange (PSX) for the second consecutive day on Thursday with the oil and fertilizer stocks taking the front seat and lifted the key index over 400 points.
The Pakistan Stock Exchange s benchmark KSE 100-Index increased by 0.94 percent, or 406.50 points, to close at 43,766.69 points on Thursday when compared with 43,360.19 points reported on Wednesday.
Companies like Oil and Gas Development Company, Pakistan Petroleum and Pakistan Oilfields posted substantial gains as crude oil prices in the international market went up further to entice investors to buy new positions. Market precipitants also took cue from a recent uptick in urea offtake to buy fertilizer shares.
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