(World Oil)– The U.S. sealed a trade deal with Pakistan as their officials wrapped up talks in Washington, agreeing to develop oil reserves. The pact involves a reduction of the so-called reciprocal tariffs, especially on Pakistani exports, according to a statement by Pakistan’s finance ministry on Thursday. No details on tariffs were shared by either side. U.S. President Donald Trump
Associated Press•May 20, 2019 ISLAMABAD (AP) — Pakistan’s ministry of petroleum says authorities are ending offshore drilling off the Karachi coast in the Arabian Sea after no reservoirs of oil or gas were found. The news was a setback for Pakistan, which had placed high hopes in the project discovering enough oil for its needs. The ministry said in Sunday’s
From Business Recorder KARACHI: Pakistan’s first Liquefied Natural Gas (LNG) energy terminal has received 120 shipments and injected 7.4 million tonnes LNG in the national transmission network since start of its operations, saving US $1.2 billion per year in the national kitty. “Established by Engro Pakistan, the plant was completed in a record 330 days and succeeded to transfer 120
New pipeline represents the first infrastructure deal between the two countries since the 1970s Pakistan is expected to sign an agreement with Russia for the construction of a 1,100 km (about 684 mile) liquefied natural gas (LNG) pipeline from Karachi in southern Pakistan to Lahore in the North. Under the partnership, Russia will provide $2 billion to lay the pipeline,
