Month: August 2020

Pakistan to import Euro-5 standard petrol from Sep 1: Nadeem Babar

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ISLAMABAD, Aug 19 (APP):Special Assistant to the Prime Minister (SAPM) on Petroleum Nadeem Babar Wednesday said the country would start importing only Euro-5 standard petrol from September 1, aimed at providing quality fuel and tackling environmental issues. “Efficiency-wise, the Euro-5 petrol is far better than the existing Euro-II and will be available without any additional cost,” he said while sharing two-year performance of the Pakistan Tehreek-e-Insaf (PTI) government here at a news conference along with members of the federal cabinet. After December 31, he said only Euro-5 standard diesel would…

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Work on North-South Pipeline set to kick off

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ISLAMABAD: Experts see the Supreme Court’s decision in the gas infrastructure development cess (GIDC) case as a major breakthrough that will help kick off work on the stalled North-South Gas Pipeline by the public utilities. The pipeline will pump imported gas from south to north to feed Punjab industries and will send positive signals to the companies planning to set up new liquefied natural gas (LNG) terminals. In a recent judgement, the Supreme Court directed the federal government to take all steps to commence the laying of North-South Gas Pipeline…

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Bangladesh LNG imports reach record high

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Bangladesh’s LNG imports rose sharply on the year in July and were the highest for any month since the country started importing LNG in 2018. Receipts at Bangladesh’s two floating storage and regasification units (FSRUs) rose by 80pc to 497,300t last month from 275,900t in July 2019, judging by vessel size. Last month’s imports were the highest since the country started importing LNG in April 2018. The previous record was set in October, when the country absorbed 495,700t. The Covid-19 outbreak weighed on demand late in the first quarter and…

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Asia to import record LPG in 2020 as pandemic boosts demand for protective gear, cooking

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SINGAPORE: Asia will likely import record volumes of liquefied petroleum gas (LPG) in 2020 as firms snap up the fuel to make petrochemicals used in protective gear against the coronavirus, while households under lockdown ramped up purchases for cooking. The region will buy some 67-69.5 million tonnes of the gas from abroad this year, surpassing last year’s record, analysts from consultancy firms IHS Markit, FGE and Wood Mackenzie said. That would represent a 1-3 per cent increase on 2019 import volumes. Strong Asian demand could weigh on supplies in coming months…

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Govt initiates process to recover Rs417b GIDC

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ISLAMABAD: The government has initiated the process to recover Rs417 billion collected by various sectors of economy in the head of GIDC (Gas Infrastructure Development Cess) and to this effect Petroleum Division has asked the heads of gas companies, and public sector exploration and production companies to initiate the recovery process with immediate effect. Director Technical of Directorate General of Gas on behalf of the Petroleum Division has written a letter on August 19, 2020 (Wednesday) to the managing directors of Sui Southern, Sui Northern, Pakistan Petroleum Limited, OGDCL and…

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