Month: March 2021

Qatar embarks on LNG sales campaign after approving expansion

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Executives from the top exporter of liquefied natural gas are jetting around the globe in a whirlwind bid to strike competitive deals with the fastest growing customers. They need to. Qatar, the world’s largest producer of the fuel, last month approved a $29 billion plan to boost capacity at its LNG export facility by 64 percent this decade, and is now urgently seeking to lock-in contracts and undercut rival developers from the U.S. to Australia. That’s why Qatar Petroleum executives were last week in Pakistan to sign a supply deal and pose for photos…

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No Differences Among OGRA Members Over Commercial Licensing Of Flare-gas: Spokesman

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ISLAMABAD, (APP – UrduPoint / Pakistan Point News – 4th Mar, 2021 ) :Oil and Gas Regulatory Authority (OGRA) on Thursday rejected a news item appearing in some sections of media regarding differences among its members over the issuance of flare-gas licences for commercial use. “It is categorically rebutted that the authority has any differences on the issue of licensing of ‘Flare Gas’ for utilization in industry,” OGRA spokesman Imran Ghaznavi said in a press statement.�He said the decision on licences would be made on completion of the requisite documents…

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Demands of LPG producers go unheeded

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ISLAMABAD: A sub-committee constituted to make recommendations for a new liquefied petroleum gas (LPG) policy has turned down major demands of state-run LPG producers that called for imposing regulatory duty on LPG imports and maintaining advance income tax to end price distortion. Oil and Gas Development Company (OGDC), Pak Arab Refinery Limited (Parco) and Pakistan Petroleum Limited (PPL) are the state-run companies that are producing LPG. They said that the government should maintain the prevailing advance income tax on LPG imports as this is an advance tax and is adjustable against final…

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CCoE asks for assessment before reducing port charges for LNG

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ISLAMABAD: The Cabinet Committee on Energy (CCoE) on Thursday did not immediately allow reduction in port charges on handling of liquefied natural gas (LNG) demanded by the Petroleum Division and ordered an independent assessment to reach a decision on charges competitive in the region. At a meeting of the CCoE presided over by Minister for Planning and Development Asad Umar, the Petroleum Division complained that Port Qasim Authority (PQA) had been handling charges on LNG vessels that were the highest in the region and yet was not spending these funds…

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Govt to privatise 44 entities by 2025

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ISLAMABAD: The International Monetary Fund (IMF)-backed first review of Pakistan’s bleeding public sector enterprises has identified 44 entities for privatisation, including the power companies that are causing big losses, despite a 50% reduction in losses in the first year of current government. The review of 84 commercial state-owned enterprises (SOEs) has been completed as part of the structural benchmarks set by the IMF and supported by the World Bank and the Asian Development Bank (ADB), according to the “SOEs Triage: Reforms and Way Forward” report that the Ministry of Finance released on Thursday.…

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