Year: 2020

Russian Oil Giant Announces Start Of Vast Arctic Project

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Moscow, (APP – UrduPoint / Pakistan Point News – 26th Nov, 2020 ) :Russian oil giant Rosneft on Wednesday announced the start of operations for its giant Vostok oil project in the Arctic, part of the country’s strategic energy plan which has been criticised by environmentalists. “It is with great pleasure that I inform you of the start of the practical implementation of the project,” Rosneft chief executive Igor Sechin told President Vladimir Putin at a meeting in Moscow. He thanked Putin, with whom he has close relations, for the…

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Gas Reserves Discovered In District Musa Khel, Balochistan

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ISLAMABAD, (APP – UrduPoint / Pakistan Point News – 25th Nov, 2020 ) :The Oil and Gas Development Company Limited (OGDCL) has discovered another gas reserve from its exploratory Well located in district Musa Khel, Baluchistan province. According to a press release, the discovery of Lakhirud X-1 is the result of aggressive exploration strategy adopted by the Company. It has opened a new avenue and set to add the hydrocarbon reserves base of OGDCL besides help reducing the gap between supply and demand of oil and gas in the country…

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Govt suggests using telecom model

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Policymakers have expressed the desire that gas companies should follow the model of telecom sector in an effort to operate in a competitive market, improve efficiency and reduce losses. At present, the two public gas utilities are posting high losses, which have worried policymakers, who are considering splitting the companies to control revenue bleeding. Losses of the gas utilities range from 11-17%. According to the Petroleum Division, the monopoly of the gas companies is causing an annual loss of Rs50 billion. These companies are in deep financial trouble because of…

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Aaj Shahzeb Khanzada Key Saath’: Gas crisis may create political problems for PM Imran Khan

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KARACHI: As a follow-up of Tuesday’s report in Aaj Shahzeb Khanzada Key Saath regarding loss of Rs122 billion to national kitty and misleading the prime minister which not only have led to severe fuel related crises but also created serious political problems for the prime minister, the SAPM, Nadeem Babar, in his Wednesday’s press conference not only failed to give concrete replies to the specific allegations backed with documents but sadly insisted on his oft repeated stances. In the Wednesday’s show, the programme’s host Shahzeb Khanzada, said we are not…

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Deeper Gas Crisis on the Cards

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ISLAMABAD: With the winter season aggravating every day, the country is heading towards a severe gas crisis as 100pc state owned companies — Pakistan LNG Terminal Limited (PLTL) and Pakistan LNG Limited (PLL) have refused to finalize the Inter-User Agreement (IUA) making the private LNG imports impossible knowing the fact that the private sector alone can solve the gas crisis and solve it fast by utilizing the unused capacity of the government and 150 mmcfd additional capacity of PGPCL terminal. More importantly, PLTL has rather sought a mammoth amount of…

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