1. Now Walk the Talk, Imran
  2. Violence against Minorities
  3. Unsheltered
  4. Lumbering Giant with a Midget’s Mentality
  5. How to Encourage Terrorism
  6. Faisalabad in 2028
  7. Mental Illness & the Progress of a Nation
  8. Child Sexual Abuse
  9. Living amongst the clouds : Aalia Bux
  10. Mental health – What soldiers can teach us
  11. Many Cookies still to Crumble
  12. Steering Through Turbulence
  13. ExxonMobil – Close to hitting huge oil reserves in Pakistan, bigger than Kuwait’s
  14. NAYA PAKISTAN?
  15. Making ADR work for Women
  16. Women’s Rights under Family Law
  17. Shutting the Door on Refugees
  18. Water Challenges and Opportunities
  19. In Conversation with Dr. Ghulam Rasul on Hydrology
  20. In Conversation with Shafqat kakakhel: Internal Water Management Practices
  21. Come on Skipper !
  22. GUMM
  23. Annus Horibilis
  24. The Inhumanity of Pakistan’s Coal Industry
  25. Iran Nuclear Deal The U.S Withdrawal
  26. Method in the Madness
  27. Legal System Reforms
  28. Power Over Impulse
  29. Refugees and Migrants are People too
  30. PTCL – A Nonstop Journey Towards Excellence
  31. Gulgee – The Last of The Greats
  32. Patrik Hoffmann – Sonraj
  33. Pakistan’s Primordial Hindu Heritage
  34. Pakistan’s Migrant Tragedy
  35. PTCL – Fastest Growing Brand in Pakistan
  36. Keep Pakistan’s Wagon Hitched To The China Star
  37. Anique’s Chocolate Cake
  38. Selfless & Fearless – Lahore Qalandars
  39. NEWS PICKS
  40. Intellectual Property and Tourism
  41. Fitness with the Mughal
  42. REBEL WITH A CAUSE
  43. The Big Fat Lie – Cholesterol (Part-1)
  44. Mummy’s Recipes Roast Chicken & Veg
  45. ENGAGING HEADS HEARTS AND HANDS
  46. The Big Fat Lie – Cholesterol (Part-2)
  47. Q & A with Star of Parchi
  48. Addressing Sexual Abuse
  49. Q & A with EMAN ZAEEM & MEHR SAAD
  50. Pakistan’s Lost Children
  51. ENGLAND AND THE INDUSTRIAL REVOLUTION
  52. STICK WITH FRIENDS AND DITCH THE ENEMIES
  53. The Phenomenon that Stephen Hawking was!
  54. In Conversation with ANUSHAY ZEESHAN
  55. Q & A with owner of District 6 – Anum Rafat
  56. Ali Rehman Khan – Naturally A Star
  57. MUNIBA`S Call for Tolerance & Justice
  58. Q&A Muniba Mazari
  59. Health Quotient (Dental health)
  60. Money for nothing, bits for free
  61. FinTech
  62. TRADING THREATS OF WAR
  63. Crisis of Civilization
  64. Child Sexual Abuse
  65. Education is the only Solution
  66. Fit for Purpose
  67. BLUE CHIP TALKS TO THE CREATOR OF TEETOO AND TANIA
  68. Mini meringue recipe
  69. NEW ANIMATED TV SERIES PAKISTANI
  70. Changing the Perception of Public Transport Motorway Express
  71. AUSTENISTAN DEBUTS WITH ELEGANCE AND ENTHUSIASM
  72. PAKISTAN’S WOMEN OF 2017
  73. THE BEAUTY IN BUSINESS
  74. PERCEPTIONS ARE ALSO REALITY
  75. Blue Chip Q/A with Atiqa Odho
  76. Five major political events of 2017
  77. WHAT DOES TRUMP’S TWEET MEAN FOR CPEC AND THE REGION
  78. THE GLOBAL ECONOMY IN 2017
  79. AFGHANISTAN GOING DOWNHILL
  80. 2017 FOR PSX – THE CLIMB AND THE DECLINE
  81. What we can learn from Ghalib
  82. QUINOA SALAD WITH THAI DRESSING
Sun, Nov 18, 2018
  1. Now Walk the Talk, Imran
  2. Violence against Minorities
  3. Unsheltered
  4. Lumbering Giant with a Midget’s Mentality
  5. How to Encourage Terrorism
  6. Faisalabad in 2028
  7. Mental Illness & the Progress of a Nation
  8. Child Sexual Abuse
  9. Living amongst the clouds : Aalia Bux
  10. Mental health – What soldiers can teach us
  11. Many Cookies still to Crumble
  12. Steering Through Turbulence
  13. ExxonMobil – Close to hitting huge oil reserves in Pakistan, bigger than Kuwait’s
  14. NAYA PAKISTAN?
  15. Making ADR work for Women
  16. Women’s Rights under Family Law
  17. Shutting the Door on Refugees
  18. Water Challenges and Opportunities
  19. In Conversation with Dr. Ghulam Rasul on Hydrology
  20. In Conversation with Shafqat kakakhel: Internal Water Management Practices
  21. Come on Skipper !
  22. GUMM
  23. Annus Horibilis
  24. The Inhumanity of Pakistan’s Coal Industry
  25. Iran Nuclear Deal The U.S Withdrawal
  26. Method in the Madness
  27. Legal System Reforms
  28. Power Over Impulse
  29. Refugees and Migrants are People too
  30. PTCL – A Nonstop Journey Towards Excellence
  31. Gulgee – The Last of The Greats
  32. Patrik Hoffmann – Sonraj
  33. Pakistan’s Primordial Hindu Heritage
  34. Pakistan’s Migrant Tragedy
  35. PTCL – Fastest Growing Brand in Pakistan
  36. Keep Pakistan’s Wagon Hitched To The China Star
  37. Anique’s Chocolate Cake
  38. Selfless & Fearless – Lahore Qalandars
  39. NEWS PICKS
  40. Intellectual Property and Tourism
  41. Fitness with the Mughal
  42. REBEL WITH A CAUSE
  43. The Big Fat Lie – Cholesterol (Part-1)
  44. Mummy’s Recipes Roast Chicken & Veg
  45. ENGAGING HEADS HEARTS AND HANDS
  46. The Big Fat Lie – Cholesterol (Part-2)
  47. Q & A with Star of Parchi
  48. Addressing Sexual Abuse
  49. Q & A with EMAN ZAEEM & MEHR SAAD
  50. Pakistan’s Lost Children
  51. ENGLAND AND THE INDUSTRIAL REVOLUTION
  52. STICK WITH FRIENDS AND DITCH THE ENEMIES
  53. The Phenomenon that Stephen Hawking was!
  54. In Conversation with ANUSHAY ZEESHAN
  55. Q & A with owner of District 6 – Anum Rafat
  56. Ali Rehman Khan – Naturally A Star
  57. MUNIBA`S Call for Tolerance & Justice
  58. Q&A Muniba Mazari
  59. Health Quotient (Dental health)
  60. Money for nothing, bits for free
  61. FinTech
  62. TRADING THREATS OF WAR
  63. Crisis of Civilization
  64. Child Sexual Abuse
  65. Education is the only Solution
  66. Fit for Purpose
  67. BLUE CHIP TALKS TO THE CREATOR OF TEETOO AND TANIA
  68. Mini meringue recipe
  69. NEW ANIMATED TV SERIES PAKISTANI
  70. Changing the Perception of Public Transport Motorway Express
  71. AUSTENISTAN DEBUTS WITH ELEGANCE AND ENTHUSIASM
  72. PAKISTAN’S WOMEN OF 2017
  73. THE BEAUTY IN BUSINESS
  74. PERCEPTIONS ARE ALSO REALITY
  75. Blue Chip Q/A with Atiqa Odho
  76. Five major political events of 2017
  77. WHAT DOES TRUMP’S TWEET MEAN FOR CPEC AND THE REGION
  78. THE GLOBAL ECONOMY IN 2017
  79. AFGHANISTAN GOING DOWNHILL
  80. 2017 FOR PSX – THE CLIMB AND THE DECLINE
  81. What we can learn from Ghalib
  82. QUINOA SALAD WITH THAI DRESSING

The US energy giant ExxonMobil is close to hitting huge oil reserves near the Pakistan- Iran border, which could be even bigger than the Kuwaiti reserves, says Abdullah Hussain Haroon, Pakistan’s caretaker minister for maritime affairs and foreign affairs.

ExxonMobil, the American multinational oil and Gas Company, has so far drilled up to 5,000 meters close to the Iranian border and is optimistic about the oil discovery, Haroon told business leaders at the Federation of Pakistan Chambers of Commerce and Industry (FPCCI).

If the oil deposits are discovered as expected, Pakistan will be among top the 10 oil-producing countries ahead of Kuwait in sixth position.

Kuwait’s oil reserves make up 8.4 percent of the oil reserves in the world. Kuwait claims to hold about 101.50 billion barrels, including half of five billion barrels in the Saudi- Kuwaiti neutral zone which Kuwait shares with Saudi Arabia.

According to current estimates, 81.89 percent of the world’s proven oil reserves are located in OPEC member countries, with the bulk of OPEC oil reserves in the Middle East, amounting to 65.36 percent of the OPEC total, latest OPEC data shows.

Pakistan’s foreign minister also said that his government has already taken an undertaking from ExxonMobil to set up a generation complex worth $10 billion.

“They are also putting up an LNG berth at Port Qasim, the second seaport in Karachi. They have already paid for the drilling rights in Pakistan,” Haroon added.

He said: “Pakistan is providing a level playing field to foreign investors and they are interested in coming to Pakistan. What we need to do is to meet their standards and attract them to make investment.”

In May 2018, the ExxonMobil had acquired 25 percent stakes in offshore drilling in Pakistan. The agreement was signed at Prime Minister’s Secretariat among ExxonMobil, Government Holdings Private Limited, PPL, Eni and the Oil and Gas Development Corporation.

The agreement has reduced the drilling share of other partner  exploration companies to 25 percent each.

Haroon said that Pakistan is being dragged into the US-China trade war but “the country is maintaining its impartiality.”

“When we sought a much-needed external loan from China, which they initially had refused, the US expressed its annoyance,” Haroon added.

Pakistan currently meets only 15 percent of its domestic petroleum needs with crude oil production of around  22 million tons; the other 85 percent is met through imports. The country facing huge current account deficit of up to $18 billion is spending a substantial amount of foreign exchange reserves on import of oil.  The import bill of Pakistan rose by to $12.928 billion in the July-May 2017-18 period of the last fiscal year.

Pakistan’s foreign minister also talked about the current water crisis and its impact on Indo-Pak relations. “India is acting to control water flows which would endanger Pakistan’s food security and they would ruin our crops,” he said.

Haroon called for the integration of Karachi Port and Port Qasim so that they could supplement each other in the larger interest of the country.

He underlined the need for a new area for a fish harbor as the existing one has many issues and there is shortage of land. He regretted that the harbor is not well kept and hoped that the European Union will give subsidy for a new one.

Ghazanfar Bilour, president of the FPCCI, said that Pakistan trade was facing global competition both in terms of marketing products and trade diplomacy as the agreement signed by Pakistan to expand exports was not providing potential benefits. “We need strong advocacy to achieve market access for Pakistani products in other leading markets, and correction in the existing bilateral trade agreements.”

Tariq Haleem, vice president of the FPCCI, called for bringing down the cost of doing business and improving efficiency at all Pakistan ports.

“At Karachi Port, about 27 million tons (import and export) of dry and liquid cargo is handled per annum. But, in actual fact, these volumes  were not satisfactory, the reason being the extreme shortage of space at the Karachi port,” he said.

by Khurshid Ahmed

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LATEST POSTS

Now Walk the Talk, Imran
Violence against Minorities
Unsheltered

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November 5, 2018
Lumbering Giant with a Midget’s Mentality