Month: January 2021

Imported LNG supply in Sindh: Ultimate Energy Services, Energas Marketing sign agreement

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ISLAMABAD: The Ultimate Energy Services (Pvt) Ltd has signed an agreement with Energas Marketing (Pvt) Ltd for supply of imported LNG to the CNG stations in Sindh. The CNG industry has been facing severe gas loadshedding since a decade, which has worsened in the last two years. As a result, the CNG consumers have been deprived of their favourite and most-needed, economical and environmentally-friendly fuel. Energas Marketing (Pvt) Ltd was granted a marketing licence to import and market LNG in Pakistan. The company will also establish a LNG terminal. A…

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Ex-KE MD made head of reconstituted NTDC board

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ISLAMABAD: The government on Thursday reconstituted the board of directors of the National Transmission & Despatch Company (NTDC) under the chairmanship of former managing director of K-Electric Naveed Ismail. According to a notification issued by the Power Division, seven out of 11 members of the existing board have been replaced. All the independent directors are new faces on the board whose number has been reduced from six to five. They include Ali Zain Banatwala (a Karachi-based system optimisation and smart grids expert), Nauman K. Hyder (former HBL president), Almas Hyder…

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Per unit tariff of SSGC consumers hiked by Rs44

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ISLAMABAD: The Oil & Gas Regulatory Authority (Ogra) on Thursday allowed Rs44 per unit (5.4 per cent) increase in the prescribed price for Karachi-based Sui Southern Gas Company (SSGC). The increase was determined on the request of the utility on the basis of its estimated revenue requirement (ERR) for financial year 2020-21. The regulator said the company will be able to meet Rs14.3 billion shortfall in its ERR, including prior year shortfall of Rs51bn. The new prescribed price has been worked out at Rs779 per Million British Thermal Unit (MMBTU)…

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New Oil Deals In Iraq Carry Serious Geopolitical Implications

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Near the beginning of December, Bloomberg sources suggested that the French oil major Total SA was looking to rid itself of its 18% stake in the Sarsang exploration block in northern Iraqi Kurdistan. Now, Iraq’s oil ministry has signed an MOU with the oil giant to execute “large and promising projects” in Iraq, specifically in natural gas and clean energy, the country’s oil ministry said on Wednesday. Total’s CEO Patrick Pouyanne was in the country at the time of the signing. Total already has a 22.5% interest in Iraq’s Halfaya…

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Monthly fuel price adjustment

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ISLAMABAD: National Electric Power Regulatory Authority (Nepra) on Wednesday indicated an increase of upto Rs 1.60 per unit in tariffs of power Distribution Companies for the month of December 2020 under monthly fuel price adjustment mechanism, amid a heated debate within the Authority on use of expensive fuel, which will overburden the consumers. The increase which will be reflected in the bills of February 2021, is in addition to already approved Rs 1.95 per unit increase in base tariff of Discos to be recovered across the board. The Nepra Authority…

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