Month: July 2021

Russia’s LNG Strategy: Foreign Competition and the Role of the Arctic Region

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Earlier this spring (March 22), the Russian government adopted the “Long-Term Program on the Development and Production of LNG” (Government.ru, March 22). The document highlights the strategic role of the Arctic region in the pursuit of Russia’s main goal—gaining a 20 percent share in the global liquefied natural gas (LNG) industry by 2035. This goal was reiterated in June by Prime Minister Mikhail Mishustin, during a meeting of his cabinet (TASS, June 7). The instructions outlined in the Program, combined with other already-observable indicators, suggest that Russia plans to drastically…

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Cargo ship beached at Karachi’s Sea View after losing anchors due to rough weather

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A cargo ship that beached at Karachi’s Sea View early on Wednesday after it lost its anchors due to rough weather remained at the beach on Thursday as authorities were yet to take action. According to the Karachi Port Trust (KPT), MV Heng Tong, a cargo ship coming from Shanghai was on its way to Istanbul, Turkey, and did not completely enter the Karachi Harbour, although it was anchored in Pakistani waters awaiting a crew change. The rough sea caused the vessel to lose its anchors and it started drifting…

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The sordid saga of IPPs

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Recently, there have been reports that the fear of the National Accountability Bureau (NAB) may force the government to back out of its deals with power companies set up under the 2002 power policy. The purpose is to renegotiate their ‘renegotiated’ power purchase agreements (PPAs) to deduct the alleged excess payments made to the 12 independent power producers (IPPs) from their longstanding unpaid bills. That is a bad idea as the government will be setting yet another bad precedent for the investors instead of dealing with the real issue: the…

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OMAP calls for end to OMCs ‘witch hunt’

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Oil Marketing Association Pakistan (OMAP) on Tuesday called for an end to the witch hunt of the oil marketing companies saying it was increasingly becoming difficult for them to operate under the current circumstances. OMAP Chief Executive Officer Ilyas Fazil in a letter to Federal Minister for Energy Hammad Azhar appealed for an end to the spate of enquiries against the OMCs in the wake of the June 2020 Petrol Crisis Commission’s report. OMAP is a representative body of the oil marketing companies. “This Sector is the most important one…

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OMCs seek an end to ongoing ‘witch-hunt’

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The Oil Marketing Association Pakistan (OMAP) on Tuesday called for an end to the witch-hunt of the oil marketing companies (OMCs) saying it was increasingly becoming difficult for them to operate under the current circumstances. OMAP Chief Executive Officer Dr Ilyas Fazil in a letter to Energy Minister Hammad Azhar appealed for an end to the spate of inquiries against the OMCs in the wake of the June 2020 Petrol Crisis Commission’s report. “This sector is the most important one to keep the wheels of the economy turning and must…

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