Day: January 29, 2021

ECC forms committee to review OMCs’ margins on petroleum products

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Committee okays continuation of general subsidy on five essential items through USC; approves allocation of gas from Mari Petroleum wells to SSGC; defers five-year textile policy for further deliberations The Economic Coordination Committee (ECC) of the Cabinet has constituted a four-member committee to review the margins of oil marketing companies/dealers on petroleum products. The ECC meeting was held under the chair of Finance and Revenue Minister Dr Abdul Hafeez Shaikh on Thursday. According to details, the Petroleum Division had proposed Rs0.45 per litre hike in OMCs’ margin on MS and…

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Ogra approves gas price hike for Sindh, Balochistan

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ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has allowed the Sui Southern Gas Company Limited (SSGCL) to charge 5.4 percent more charges from gas consumers to recover its multi-billion rupees shortfall. It notified a 5.4 percent increase in prescribed gas price and fixed it at Rs778.59/mmbtu for SSGCL to recover Rs14.27 billion shortfall in estimated revenue requirement (ERR) for the financial year 2020-21 including prior year shortfall of Rs50.983 billion. It also allowed the gas utility to increase the gas meter rent from Rs20 per month to Rs40 per…

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Pakistan aims to divert gas from captive power plants to residential consumers

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Karachi — Pakistan has decided to halt gas supplies from Feb. 1 to captive power plants of non-export oriented industries using gas as a fuel to produce their own electricity, in an effort to ensure residential consumers get enough supplies, a government document said. The decision comes at a time when Pakistan is facing a severe gas shortage at home and finding it difficult to source cargoes from the international markets. Industrial units in Pakistan are allowed to install their captive power plants to produce electricity for their own use. And…

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OGDCL plans study to classify shale reservoirs in Indus basin

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KARACHI: State-owned Oil and Gas Development Company (OGDC) has planned to conduct a study to classify shale and tight gas reservoirs in the country identified by its initial investigation, it was learnt on Thursday. OGDC has already conducted a shale gas and tight gas study for Indus Basin and delineated 27 unconventionally focused areas which have shown presence of significant in-place shale gas and tight gas resource. Now, the OGDC planned 3D seismic unconventional reservoir characterisation to optimise the advance planning of lateral well trajectory in unconventional reservoir of Lower…

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Comment: China’s carbon markets offer Pakistan a big opportunity

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China is all set to launch its carbon emissions trading scheme next month. If successful, it is set to be the largest such system in the world. Carbon trading schemes have been on several countries’ agendas, but their execution has been limited due to fiduciary, technical and implementation challenges. Pakistan has abundant potential carbon mitigation and adaptation options and could benefit greatly from collaboration with China’s emission trading scheme. Read: Is Pakistan really phasing out coal? What is a carbon market? A carbon market is one where you can buy…

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