Year: 2020

OGDCL produces 36,221 BPD oil, 904 MMCFD gas, 714 TPD LPG in 1st quarter

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ISLAMABAD, Nov 9 (APP):The Oil and Gas Development Company Limited (OGDCL) has produced around 36,221 36,221 BPD crude oil, 904 MMCFD gas and 714 TPD LPG gas during first quarter of the current fiscal year despite coronavirus pandemic and natural decline in existing hydrocarbon deposits. The company, during corresponding period of the last year, extracted 37560 Barrel Per Day (BPD) crude oil, 960 million Cubic Feet Per Day (MMCFD) gas and 702 Ton Per Day (TPD) Liquefied Petroleum Gas (LPG) Gas, according to the company’s quarterly report available with APP.…

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OGDC Revenue Drops Rs7bn in 1QFY21

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The Oil and Gas Development Company Limited (OGDC) registered a sales’ revenue of Rs59.528 billion for the first quarter (July-Sept) of FY21 as compared to Rs66.204 billion in the corresponding year of last year. “Despite coronavirus pandemic and a natural decline in existing hydrocarbon deposits, OGDC managed to produce around 36,221 barrels per day (BPD) of crude oil, 904 million cubic feet per day (MMCFD) gas and 714 tonnes per day (TPD) of liquefied petroleum gas (LPG) in the first quarter of FY21. The company, during the corresponding period of…

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Govt lauded for fulfilling CNG sector’s demands

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The All Pakistan CNG Association (APCNGA) said on Monday that the government is promoting the use of compressed natural gas (CNG) to reduce urban pollution, cut oil import bill and increase employment opportunities. In a statement, APCNGA Central Chairman Ghiyas Abdullah Paracha said that the government has taken a number of commendable steps to facilitate CNG pump owners, including removal of ban on setting up new CNG stations. “Now Oil and Gas Regulatory Authority (OGRA) has started issuing licences for new CNG outlets to those who fulfil all formalities, while…

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NEPRA raises electricity rates

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As per the NEPRA notification, additional collection from consumers will be taken in the context of the November bill, however, the decision will not apply to K-Electric and lifeline consumers. According to a notification issued by NEPRA, the authority, after incorporating the aforementioned adjustments, has reviewed and assessed an increase of Rs.0.4828/kWh in the applicable tariff for XWDISCOs on account of variations in the fuel charges for the month of August 2020. The notification said that the fuel cost per unit of electricity production in August was Rs. 3.68 while…

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PLL, PSO made excess payments worth $39.5m to LNG suppliers

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Two of Pakistan’s state-owned enterprises (SOEs), Pakistan LNG Limited (PLL) and Pakistan State Oil (PSO), made excess payments of $39.5 million to LNG suppliers in the head of port charges, The News reported on Monday. Payments worth $25 million “The Pakistan LNG Limited is found to have paid additional payments of $25 million (Rs3.97 billion) to LNG suppliers of Gunvor and ENI and this was disclosed in the board meeting of PLL on October 23, 2020,” one of the board members confided to The News. Taking serious note of the development, the board…

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