Month: December 2020

LPG price hiked to Rs132 per kg

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ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) on Monday notified a Rs2/kg hike in the price of Liquefied Petroleum Gas (LPG) for the month of December 2020. As per the notification, LPG will be available at Rs132/kg in the market; domestic cylinder will cost Rs1,553 (Rs23 more than last month) whereas commercial cylinder will be sold at Rs5,976 (+Rs88). Sources in the LPG industry informed that local production of LPG during the ongoing year stood at approximately 603,997 metric tonnes (MT), whereas LPG imported so far was 360,285MT. Approximately 120,000MT…

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Nepra urged to revise industrial tariff

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ISLAMABAD: Power Division has requested National Electric Power Regulatory Authority (NEPRA) to revise industrial power tariff and abolish Time of Use (ToU) charges in accordance with the decisions of ECC and CCoE. The government took decision to lower tariff for the industrial sector despite finance adviser’s warning that provision of superfluous subsidies in power sector can create hurdles in release of next tranche from the International Monetary Fund (IMF). The country’s circular debt has already reached Rs 2.3 trillion from Rs 1.1 trillion in 2018 when the PTI took over…

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Harvest or grow: what’s the future of upstream oil & gas investment?

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The outlook for the upstream industry has rarely looked so uncertain. After two oil price crashes in five years, market and price risks are at their highest in decades. And upstream spend in 2020 is set to be at its lowest in 15 years. The energy transition and the economic fallout from coronavirus will only make capital allocation decisions that much more difficult. So, what does the future hold? Will oil companies simply harvest the remaining value of their existing oil and gas assets and invest that money in new…

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Prices of some oil products increased, others’ unchanged

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ISLAMABAD: The government on Monday increased prices of High Speed Diesel (HSD) and Liquefied Petroleum Gas (LPG) by 3.94pc and 1.48pc, respectively, with immediate effect. However, by reducing some taxes it kept prices of petrol, kerosene oil and light diesel oil unchanged for the next 15 days, according to an announcement made by the ministry of finance. As such, the ex-depot price of HSD was fixed at Rs105.43 per litre with an increase of Rs4 (3.94pc) from existing Rs101.43 per litre. The HSD is mostly used in heavy transport vehicles,…

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