Emerging markets such as Vietnam, Pakistan and Bangladesh that are turning to liquefied natural gas (LNG) as a source of power are likely to be hit by higher and more volatile prices going forward, according to a new briefing note from the Institute for Energy Economics and Financial Analysis (IEEFA). Author of the note LNG/gas analyst Bruce Robertson says new…
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ISLAMABAD: Overall production of petroleum commodities has witnessed an increase of 1.50 percent during the first five months of current financial year 2020-21 as compared to corresponding period of fiscal year 2019-20. POL products that showed positive growth include Kerosene Oil the production of which increased by 3.76 percent during the period under review, Pakistan Bureau of Statistics (PBS) reported.…
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Pakistan is stuck in the quagmire of circular debt since the past more than a decade. This factor has proven to be a major retarder of the performance of the power sector.As per a recent media report, the circulardebt of the petroleum supply chain has also growninto a monster accumulating to1.6 Trillion PKR. It appears that managing the spiral would…
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Pakistan’s current energy mix is heavily tilted towards oil and gas. Any disruption to their supply chain immediately throws the entire economy off balance. This was amply demonstrated by the disturbance to oil supplies in January 2015 and then in the middle of last year. Similarly, in the case of gas, we are witness to extended queues of vehicles before…
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The energy crisis has continued to persist in Pakistan at a time when demand for oil and gas is on a rise following a rebound in industrial production and exports in the middle of the Covid-19 pandemic. “The oil and gas production fell 6% and 4%, respectively, in the second quarter (Oct-Dec) of fiscal year 2021 despite new productions from…
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The liquefied natural gas (LNG) suppliers have refused to give supplies to Pakistan for the month of February in the wake of recent massive hike in the prices of gas. According to details, Pakistan LNG Ltd (PLL) had advertised a tender on November 28, 2020 for the procurement of two spot LNG cargoes to be delivered in February 2021. On…
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Pakistan’s electricity sector is in deep trouble. The recent nationwide blackout on the night of January 9 is just another reminder of the crisis facing the collapsing power sector. But for an average consumer, the most visible impact of this crisis has been their ever-increasing electricity bill. A report published last week suggested that the government had decided to raise…
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The monster of circular debt keeps growing in the power sector. Bad governance is the overwhelming source of the circular debt build-up that is officially projected to cross the Rs2.8 trillion mark by June 30. This is almost half of the country’s about Rs5.5tr total tax revenue this year. This means an addition of Rs500 billion during the current fiscal…
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ISLAMABAD: As foreign traders of liquefied natural gas (LNG) default on supplies amid gas shortages, the Cabinet Committee on Energy (CCoE) will meet here on Monday (today) to review the overall situation, including discontinuation of gas supplies to a large number of industries on a long-term basis. Following reports that two state-owned foreign suppliers had declined to supply their two…
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