ISLAMABAD: The government has sought urgent tenders for liquefied natural gas (LNG) deliveries in third and fourth week of February to fill the gap arising out of a default by Emirates National Oil Company (ENOC) on its supply commitment. A senior official at the Ministry of Energy (Petroleum Division) confirmed that two cargoes had been sought from the international market using emergency provisions of the procurement rules. He said Pakistan LNG Limited (PLL) — the state-run entity responsible for import of LNG — had approached prospective suppliers for LNG delivery…
Read MoreMonth: January 2021
Power bill defaulters cough up Rs1m
The Peshawar Electric Supply Company (PESCO) recovered Rs1.24 million from defaulters in Abbottabad and Haripur districts during ongoing efforts to recover arrears, a spokesperson shared on Tuesday. He said that Hazara circle teams along with Pesco and the police checked various areas and replaced 45 defective metres on the spot. The operation against power stealers intensified in the province while the spokesperson maintained that it will continue till achieving the desired results. He said power theft not only causes financial losses and overloading of the power distribution system.
Read MoreLNG firm moves international court against PSO
ISLAMABAD: The involvement of state companies in the liquefied natural gas (LNG) business has exposed financial risk to Pakistan as Gunvor – a supplier of the LNG – has filed a case against the Pakistan State Oil (PSO) in an international court. The PML-N government had involved the private sector in setting up LNG terminals in Pakistan. But it involved state companies like the PSO and the Pakistan LNG Limited (PLL) in the LNG supplies business. The PSO had signed LNG supply contracts with Gunvor and Qatar Petroleum. It had signed a contract…
Read MoreJanuary 2021
IEA says oil, gas methane emissions down 10% in 2020 as output fell
LONDON – Global emissions of the potent greenhouse gas methane from oil and gas production dropped 10% in 2020 mainly because of lower output as opposed to concerted climate action, a report by the International Energy Agency (IEA) found. Methane has more than 80 times the warming potential of carbon dioxide in its first 20 years in the atmosphere and is liable to leak from oil and gas infrastructure, such as pipelines. Other industries, including agriculture, are also big methane emitters. Last year, oil and gas operations emitted over 70…
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