Pakistan Government News

Pakistan is unlikely to meet a target for Russian crude to make up two-thirds of its oil imports, despite attractive prices, hampered by a shortage of foreign currency and limitations at its refineries and ports, officials and analysts say.The cash-strapped South Asian nation became Russia's latest customer snapping up discounted crude that has been banned from European markets due to Russia's war on Ukraine. Its first cargo arrived in June and a second is now under negotiation.It is targeting 100…

At least 209 Pakistanis were on an overloaded boat that capsized and sank in open seas off Greece last week, according to data shared with Reuters on Thursday by a Pakistani investigative agency.The figure of 209 is based on information provided by families who came forward to say a relative of theirs had boarded the boat heading from Libya towards Greece and were still missing, the Federal Investigation Agency (FIA) said.The official death toll from the accident still stands at 82 and the number of survivors at 104…

Dutch petroleum storage company Royal Vopak announced that it will acquire in total 44% in Elengy Terminal Pakistan Ltd  (ETPL) in separate transactions with International Finance Corporation (IFC) and Engro Corporation Ltd (Engro Corporation). This includes the acquisition of a 29% share announced in July.ETPL's wholly owned subsidiary, Engro Elengy Terminal (Pvt) Ltd (EETPL) owns an LNG facility which is located in Port Qasim in Pakistan, adjacent to the Engro Vopak chemical terminal on the mainland side of the channel into Port Qasim.The facility has been in operation since 2015 and is the first LNG import facility in Pakistan.The facility consists of an LNG jetty including a 7.5 km high pressure gas pipeline.

Five shipbreaking workers were killed and one injured in a fire that took place in the shipbreaking yards of Gadani, Pakistan, Monday morning. The deadly fire broke out on board of the beached vessel GAZ FOUNTAIN (IMO 8406054). The LPG tanker’s last beneficial owner was the Greek shipping line Naftomar. The vessel’s name was changed to RAIN and its Panama flag swapped for the end-of-life flag Comoros just before the last voyage – a clear indicator of the use of a cash buyer. The accident occurred at yard n° 60, owned by Rizwan Diwan Farooq, the former president of the Pakistan Ship Breakers’ Association. According to reports by newspaper The Dawn, Farooq was detained after having fled the yard. The newspaper reported that the fire broke out due to a “chemical foam” present in the ship.

The first load of Liquefied Natural Gas (LNG) traded by Qatari supplier, Qatargas, is planned to reach the Port Qasim LNG terminal on March 26, says a report in Reuters. Qatargas is providing the LNG to Pakistan at $8 to $9 per Million British Thermal Units (MMBTU), according to sources. According to official sources at the Ministry of Petroleum and Natural Resources, the first cargo of LNG will arrive in Karachi on March 26. However, the Port Qasim Authority (PQA) has also raised operational, technical and regulatory constraints over LNG imports. The Port Qasim authorities said that other shipping traffic will be hampered and delayed by nine to 10 hours which will result in heavy financial claims on PQA by other port terminal operators. Hence government should undertake required dredging.

Military Sealift Command dry cargo and ammunition ship USNS Lewis and Clark and its 130 embarked civil service mariners and nine military department members are key contributors to the disaster response/humanitarian assistance being provided to flood-ravaged Pakistan. The ship is providing underway replenishment to ships of the USS Peleliu Amphibious Ready Group in the Arabian Sea as they support humanitarian relief efforts in the wake of epic monsoons. Lewis and Clark’s resupply mission helps keep ships of the ready group supplied with food, fuel and other supplies – enabling them to remain at sea, on station and able to provide help to a country where  thousands are reported dead, and millions are reported displaced or homeless.

The Pakistan government has decided to upgrade the basic infrastructure for construction of commercial cargo ships and warships, including F-22 P frigates, in Karachi, according to a report on www.uniquepakistan.com. The government has allocated funds for the fiscal year 2007-08 and it has already dropped Karachi Shipyard & Engineering Works Limited (KSEW) from its proposed privatization list. It is envisaged that if shipbuilding projects for the Pakistan Navy, Karachi Port Trust (KPT)…

According to reports, DP World, on target to achieve 40 percent growth in four years, will spend up to $3b to boost container traffic at the 52 port terminals it currently operates around the globe. Announcing the formal launch of Dubai World — the holding group comprising a collection of companies, including P&F World, the parent company of DP World — Sulayem said the diversified entity, which has seen the size and spread of business growing over the past couple of years, is geared to tap further huge potential for growth. Sulayem said DP World and its adviser Deutsche Bank were evaluating various offers for the six US terminals it acquired as part of the $6.8 billion take-over of Peninsular & Oriental Steam Navigation Company in February.