Tag Archives: fuel

New Zealand is providing support to Timor-Leste for the floods and the COVID-19 surge | Instant News


New Zealand is providing further support to Timor-Leste following the recent severe flooding and spike in COVID-19 cases, Foreign Minister Nanaia Mahuta announced today.

“Our thoughts are with the people of Timor-Leste who have been affected by floods and landslides at a time when the country is also managing the recent spike in COVID-19 cases,” said Nanaia Mahuta.

“To help with the flood response efforts, New Zealand will provide essential relief items including mother and baby supplies, solar lanterns, water-purifying tablets, water pumps, petrol generators, collapsible water containers and family hygiene kits. We will also provide various items of additional Personal Protective Equipment (PPE) to help ensure healthcare workers can treat COVID-19 patients safely. These supplies will be delivered via Royal New Zealand Air Force C-130.

“We have provided an emergency fund to enable the New Zealand Embassy to respond quickly to local needs, and New Zealand is supporting the activities of the World Food Program for the transport and distribution of relief goods throughout Dili and the affected districts.

“New Zealand will also provide up to $ 1 million to New Zealand non-governmental organizations to support responses through its local partners in Timor-Leste for initial relief and recovery assistance,” said Nanaia Mahuta.

The support announced today is in addition to the $ 3 million in COVID-19 assistance that New Zealand has previously provided to Timor-Leste. This includes the provision of PPE, and grants to NGO initiatives to raise public awareness and reduce the impact of lockdowns by strengthening food security.

“New Zealand extends its sympathy to whānau those who tragically lost their lives.”

/ Public Release. This material comes from the original organization and may be point-in-time, edited for clarity, style and length. view more here.

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Pakistan may cut gasoline prices from April 16, sources said | Instant News




OGRA has sent a summary of changes in the price of petroleum products to the petroleum division in this regard. Photo files

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has proposed lowering the price of petroleum products in the country from April 16, Geo News reported on Thursday.

OGRA has sent a summary of changes in the price of petroleum products to the Petroleum Division in this regard.

The regulatory authorities have recommended a reduction in the price of gasoline and diesel after which gasoline and diesel will likely become cheaper by Rs2.2 per liter, the sources said.

However, the final decision on the OGRA summary will be taken by the finance ministry in consultation with Prime Minister Imran Khan.

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Brazil Wants To Finance Fuel Subsidies With Oil Auctions | Instant News


Brazil is studying the possibility of funding future funds to subsidize domestic fuel prices with a portion of the proceeds expected to receive from offshore oil auctions later this year, sources with direct knowledge of the government’s plans said. Reuters this week.

Fuel prices and these price increases earlier this year became a struggle between Brazilian President Jair Bolsonaro and state oil company Petrobras – a fight that ended in Bolsonaro overthrows the managing director from the Brazilian national oil company, Roberto Castello Branco.

Fears of further government intervention in Brazil’s oil sector sparked a significant sell-off in Petrobras shares.

While Petrobras has insisted it will set the price of gasoline and diesel in Brazil based on international oil prices and import prices, Bolsonaro is unhappy about the price hikes as he is trying to save the Brazilian economy amid one of the world’s worst COVID-19 outbreaks.

Therefore, according to a Reuters source, the government is now considering whether some of the results of the November oil auction at the Sépia and Atapu oil fields in the pre-salt Santos basin could be used to create funds that would subsidize fuel and protect consumers from fluctuations. in price.

The oil auction, which will follow an auction that does not attract bidders in 2019, is expected to bring the government between US $ 3.5 billion (20 billion Brazilian rials) and US $ 5.3 billion (30 billion rials), according to Reuters sources.

Last week, Petrobras and the government agreed on a provision whereby the state oil company will receive compensation for excess reserves in the Sépia and Atapu oil fields if bidders bid in a production sharing round called Transfer of Rights (TOR). Under the Transfer of Rights agreement, the state oil company will carry out exploration and production activities in Sépia and Atapu, with production volumes limited to 500 million barrels of oil equivalent (boe) in Sépia and 550 million boe in Atapu. Companies that have the potential to win excess reserves in Atapu must pay Petrobras US $ 3.25 billion in earlier development costs, while the winners of Sépia’s excess reserves will have to pay the state oil company US $ 3.2 billion for Sepia.

By Tsvetana Paraskova for Oilprice.com

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Fuel delivery service opened | Instant News


KARACHI: Al Haj Group chairman Taj Muhammad Afridi inaugurated the Safest End node fuel delivery service in Pakistan, a statement said on Tuesday.

Following the Government of Pakistan’s COVID-19 SOP, Afridi inspected the vehicle and delivered the keynote address on the occasion.

“Without change, there is no innovation, creativity, or incentives for improvement,” said Afridi. “Those who initiate change will have a better chance of managing the changes that are inevitable.”

“I support this new no-load refueling initiative and happily present myself as Fuelship’s first customer and want their gadget to be installed in my generator for no-load refueling.”

Munif Kapadia, chief executive officer at Al Noor Petroleum Private Ltd (N3) said: “Our partnership with Fuelship will revolutionize the way customers refuel their generators and represent us with opportunities to increase our market share.”

“A proven concept, we believe that people in Pakistan are responsive to this innovative, digital-based solution that will enable them to spend their free time that they would otherwise have spent at the gas station.”

Muhammad Omer Khan, chief executive officer of Fuelship said: “Karachi is an internationally recognized testing ground for innovative technology. We can humbly bring our innovative, domestically grown service from Pakistan to the world. Through our joint agreement with N3 Petroleum, we will change the way people in Pakistan fuel their generators by digitizing their entire experience. “

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PM has avoided making changes during the rising price, fuel, LNG crisis | Instant News


ISLAMABAD: When Senate elections for the seat of Islamabad were held, there was not even the slightest indication from the governing hierarchy that Dr Hafeez Sheikh would be called upon immediately.

In fact, Prime Minister Imran Khan has personally lobbied hard for his success. He even held rare interactions with members of Pakistan’s Tehreek-e-Insaf (PTI) National Assembly (MNA) and its coalition partners. There are almost no MNAs that Imran Khan has never met during the session. The prime minister worked hard to get Hafeez Sheikh elected as senator, showing that until recently, he wanted him to continue as finance minister.

When Hafeez Sheikh left the advisory position as a consequence of the Islamabad High Court ruling, he was sworn in as finance minister so he could continue for another six months without being elected senator.

What prompted Imran Khan in the 18 days between March 12 and March 30 to force him to just send Hafeez Sheikh packing? Would Hafeez Sheikh be retained as finance minister if he won the Senate seat? No compelling reasons have been put forward by government spokespersons or cabinet ministers for their sudden dismissal from office. Most spokesmen had projected queues that he would be sent home because he failed to control rising prices and inflation.

However, other factors – such as strict and controversial steps taken by the government that lead to heavy taxes requiring greater price increases, and the excessive independence granted to the State Bank of Pakistan (SBP) make it the ‘king’ it does not have. . a $ 500 million fund from the International Monetary Fund (IMF) – has been cited as the main reason behind Hafeez Sheikh’s ouster. But clearly there is more to it than that which will become clearer with the passage of time.

If former PML-N minister Zubair Khan is to be believed, it is not really the finance minister but the SBP governor who is responsible for the price increases, and Hafeez Sheikh is just the scapegoat.

Hafeez Sheikh has always been persuaded by successive governments to return to Pakistan from abroad to improve the health of the national economy, which has been in constant crisis. But never before had he been simply eliminated. As finance minister in the past, he’s always looked through the government terms – whether military or civilian – he served. This is the first time he has been removed only midway through a government term. It is now impossible for him to stay in Pakistan after recovering from the Covid-19 infection he suffered a few days ago. In the past, he always left the country after completing his cabinet duties.

Hafeez Sheikh has never responded to deadly criticism of him by the opposition, particularly the leader of the Pakistan Muslim League-Nawaz (PML-N) Muhammad Zubair during his campaign for the Senate seat. More than once, former Prime Minister Shahid Khaqan Abbasi has demanded that the finance minister’s name be added to the Exit Control List so that he cannot leave the country and continue living in Pakistan. The Nadeem Babar case is no different. The prime minister has remained steadfast despite harsh criticism of Sheikh and Babar from the opposition and the media demanding their dismissal. Babar has always been accused of having a conflict of interest because his line of business is related to the petroleum industry under the ministry he leads. Babar is now officially declared to have been released so he cannot influence the investigation of the failure to import oil and LNG. No previous punitive action by Imran Khan and his aides has continued to defend Hafeez Sheikh and Nadeem Babar as the opposition and others condemn both of them for rising prices, economic damage and oil and LNG fraud that is harming the public and the public. heavy cat.

Even though he was directly elected, Asad Umar was basically a technocrat and a child of PTI posters. It was decided long before the PTI came to power that it would eventually head the finance ministry. But even though Hafeez Sheikh was overthrown all of a sudden, Asad Umar has not been brought back to finance. Hammad Azhar, who is a purebred politician, was chosen as his replacement. However, the task given to him was a tough task for an inexperienced young man.

Hammad Azhar is the son of Mian Muhammad Azhar, who was the first president of the king’s party – PML-Q – after being carved out of PML-N by Pervez Musharraf. The Chaudhrys of Gujrat immediately outsmarted him and took over PML-Q. Unlike her son, Mian Azhar has always been quiet.

In the 2002 general elections held during Musharraf’s term, Mian Azhar was a strong candidate for the post of prime minister, but he faced defeats from the two seats he won in Lahore and Sheikhpura. Without a parliamentary seat, he was replaced by Chaudhry Shujaat Hussain as president of PML-Q. He also failed to win a seat in the 2008 election. He then joined PTI.

Previously, Mian Azhar remained in touch with the Sharif family for decades. During Sharif’s reign, he held various senior government positions before falling out with them. He was the Governor of Punjab from 1990-1992. He also served as mayor of Lahore between 1987 and 1991.

He was awarded a National Assembly ticket to the NA-95 Lahore when the seat was vacated by Nawaz Sharif after the 1988 vote. He won the election as candidate for Islamic Jamhoori Ittehad. In 1990, following the ouster of Benazir Bhutto’s first government, he replaced General (retired) Tikka Khan as governor of Punjab. He, however, left that position due to differences with Sharif. In the 1997 election, he was selected as an MNA with a PML-N ticket from NA-92 Lahore. His relationship with Sharif grew bitter and eventually after the removal of Nawaz Sharif’s government in 1999, he became head of PML-Q.

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