The LNG spot rates are hovering around $16/mmbtu. The Pakistan LNG Limited (PLL) has received bids for October and November deliveries at an average of $19.92/mmbtu and $19.39/mmbtu, respectively. For context, the average LNG spot price for PLL cargoes in October and November last year was $5.38/mmbtu. The PLL is yet to issue final evaluation report for the tenders floated…
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The government has devised a concrete strategy to ensure access to affordable, reliable, sustainable and indigenous electricity for all by 2030. According to the three-year performance report of the government released on Thursday, it inherited multiple challenges in the power sector, including system constraints, fast rising circular debt, inefficiencies driven by corruption, theft, growing burden of tariff non-rationalisation and the…
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On 15 August the Taliban took over Kabul and declared their rule over Afghanistan. Taliban spokesperson Zabihullah Mujahid said at his first press conference that the Taliban would continue trading with neighbouring countries and steps would be taken to promote trade. Business people and traders in Pakistan widely welcomed the announcement and the Pakistan stock exchange (PSX) and the country’s…
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The three-day technical talks between Pakistan and Russia on the Pakistan Stream Gas Pipeline (PSGP) project to be laid down from Karachi to Kasur ended here on Thursday with Moscow seeking clarity if the government owns or disowns the viewpoint of Special Assistant to Prime Minister (SAPM) on Petroleum Tabish Gauhar, opposing the two countries’ flagship project mentioned in his…
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Pakistan and Russia on Thursday agreed to follow the timelines laid down to successfully implement the Pakistan Gas Stream Pipeline project. According to a statement, the scheme has made a significant headway at the conclusion of first technical session parleys between the two sides. The technical session was held in Islamabad from August 24-26, 2021. The Russian delegation was led…
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The Federal Investigation Agency (FIA) has informed the Cabinet Committee on Energy (CCOE) that big fish were involved in the June 2020 oil crisis that were putting pressure on the agency. However, FIA officials said that Prime Minister Imran Khan had given the agency a free hand to catch the parties involved in the oil crisis. The country had faced…
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Mari Petroleum’s profit after tax inched up 3.73% to Rs31.4 billion in the year ended June 30, 2021 owing to a significant decline in exploration and prospecting expenditure. According to a notice sent to the Pakistan Stock Exchange (PSX) on Thursday, the company had posted profit after tax of Rs30.3 billion in fiscal year 2019-20. Earnings per share of the…
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Byco Petroleum Pakistan Limited (BPPL), Pakistan’s largest oil refining company, hasannounced that all of its employees and staff have been inoculated against the Covid-19 virus ensuringtheir safety, health and well-being. Mr. Azfar Saeed Baig, Vice President Information – Byco Petroleum, expressed immense gratitude andappreciation to every team member who played their part in helping Byco achieve 100% vaccinatedstatus. He said,…
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