Month: December 2020

ISLAMABAD: A commission of inquiry formed in July this year to probe into a sudden shortage of petrol in the country has noted that one of the reasons behind the crisis was a lack of coordination among the departments working under the Petroleum Division. This is revealed in a report of the Federal Investigation Agency (FIA) led inquiry panel. The commission has submitted its report to Prime Minister Imran Khan who has asked the relevant officials to present it before the federal cabinet in its meeting to be held on…

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Power generation on the NTDC system increased by 7 percent year-on-year for October 2020 at 10.2 billion units, taking the 4MFY20 generation higher by 3 percent year-on-year. As anticipated and flagged earlier in this space, furnace oil is gradually being withdrawn as the demand cools down. Recall that FO and HSD based power generation has increased by a massive 34 percent year-on-year in 4MFY20, taking 6 percent of the pie. While 6 percent of the pie may not be huge, considering FO used to be north of 20 percent till…

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ISLAMABAD: Sui Northern Gas Pipelines Limited (SNGPL) board of directors has turned down reports of intelligence agencies and has recommended the same candidates for appointment as head of the public utility. Earlier, the Prime Minister’s Office had sought report of intelligence agencies on the credentials and financial integrity of existing SNGPL Acting Managing Director Amer Tufail and SNGPL General Manager Sohail Gulzar. Negative reports had revealed issues of nepotism and financial integrity of these two officials respectively. The PM Office also asked the Petroleum Division in January this year to…

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ISLAMABAD-The Petroleum Division (PD) on Sunday shared a comparative statement about the purchase of Liquefied Natural Gas (LNG) for a period from December-2017 to January-2021, which showed the government procured the commodity at the lowest rate for the current and next months. According to the statement placed on the official Twitter account of the Petroleum Division, the government procured as many as 12 and 11 LNG cargoes for the months of December-2020 and January-2021 at the average cost of $ 6.35 and $ 6.34 per MMBTU (Million British Thermal Unit),…

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Saudi Arabia says an oil tanker was attacked by an explosive-laden boat while it was anchored at Jeddah’s port. The overnight attack at the facility’s fuel terminal resulted in a small fire on board that was extinguished, the energy ministry told state media. The owner of a Singapore-flagged tanker, BW Rhine, earlier said that it had been “hit from an external source”, causing a blast that damaged its hull. The energy ministry did not say who it suspected was responsible. But the incident comes weeks after what Saudi authorities previously…

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