Month: March 2021

The government is likely to introduce amendments to the Oil and Gas Regulatory Authority (Ogra) Ordinance 2002 in order to give representation to provinces in the regulatory body. Provinces have supported the amendments proposed by Sindh for giving them representation in the regulatory authority. Under the amendments, the government will also appoint a vice chairman from amongst Ogra members for one year from each province through rotation. Following the 18th Constitution Amendment, the provinces have joint and equal role and responsibility in natural resources. Amendments to the Ogra Ordinance have been proposed to…

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Pakistan’s landmark, new deal with Qatar for liquefied natural gas at lower rates will save Islamabad a total of about $3 billion over the next 10 years, an adviser to the country’s prime minister said Monday.The agreement, signed last Friday, will save the state $317 million annually due to the reduced price of the gas compared to the 2015 agreement between the two countries, according to Nadeem Babar, Prime Minister Imran Khan’s adviser on petroleum.This “will result in the lowering of the overall cost of liquefied natural gas” imported from…

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The E&P sector’s production of crude oil and natural gas has been declining in recent years due to depleting reserves and discoveries smaller in size. E&P sector’s production flows in 2QFY21 continued to fall with around 6 and 4 percent fall in oil and gas production year-on-year, respectively. Crude oil production during 1HFY21 fell by around 6 percent year-on-year, while gas production declined by 3 percent year-on-year. Decline in production flows along with falling crude oil prices is a key factor for falling revenues in the E&P sector. Oil prices…

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wo major industries around the world – arms and energy – have continued to dominate for a long time and have driven diplomatic and strategic relations between different countries. Energy diplomacy leads to interdependence on each other. Energy trade is not only confined to commercial business but it also provides opportunities for countries to expand their footprint in foreign markets. Traditionally, the oil lobby has been powerful around the world for decades. However with changing energy dynamics, a liquefied natural gas (LNG) lobby is emerging rapidly as several countries are increasingly using LNG as…

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