Year: 2020

How are the oil-rich countries of the Persian Gulf, usually called the GCC countries, coping with the current pandemic crisis and other growing global pressures? The common assumption tends to be that with their fabulous wealth from floating for decades on seas of oil and gas the emirates and kingdoms of the region will all get through and overcome all challenges. But if that is what people think, then they should think again. In reality this is a time when almost everything is turning against these Arab states. Their most…

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Amid strong opposition from key stakeholders, the Cabinet Committee on Energy (CCOE) led by Minister for Planning and Development Asad Umar has put on hold the unbundling of two gas utilities — Sui Northern Gas Pipelines Ltd (SNGPL) and Sui Southern Gas Company Ltd (SSGCL) — until a comprehensive, feasible and time-bound road map for gas-sector reforms is available. He agrees that the unbundling of gas firms into transmission and distribution companies is not the objective per se and lessons should be learnt from power-sector reforms that began with the…

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ISLAMABAD: The Ministry of Energy Petroleum Division Friday issued a press release, clarifying its position regarding reports, circulating in the print and electronic media, posing serious questions about the LNG import “based on selected data”. The release said the Petroleum Division would like to respond to the questions in the backdrop of legal and contractual issue of LNG import. The first question, said the release, is asked whether the government not buying more LNG. In this regard, one must know that since LNG is not “gas” as per law, the…

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Amid strong opposition from key stakeholders, the Cabinet Committee on Energy (CCOE) led by Minister for Planning and Development Asad Umar has put on hold the unbundling of two gas utilities — Sui Northern Gas Pipelines Ltd (SNGPL) and Sui Southern Gas Company Ltd (SSGCL) — until a comprehensive, feasible and time-bound road map for gas-sector reforms is available. He agrees that the unbundling of gas firms into transmission and distribution companies is not the objective per se and lessons should be learnt from power-sector reforms that began with the…

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ISLAMABAD: Amid declining oil prices, the government is likely to increase profit margins of oil marketing companies (OMCs) and dealers’ commission by 16 per cent without completion of a market study as was promised last year. The ministries of finance and planning and the Oil and Gas Regulatory Authority (Ogra) are currently examining a formal proposal, moved by the energy ministry’s petroleum division, before a meeting of the Economic Coordination Committee (ECC) of the cabinet takes a final decision. Finance ministry sources told Dawn that the petroleum division had proposed 45 paisa…

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