SCCI rejects decision of gas suspension to industries, CNG sector in KP

he Sarhad Chamber of Commerce and Industry (SCCI) has rejected the government’s decision to suspend gas supplies to industries and the CNG sector in Khyber Pakhtunkhwa (KP) from next week, terming it unacceptable for the business community.Lamenting the move, SCCI President Sherbaz Bilour Bilour, while talking to a group of industrialists here at his office on Saturday, called the decision against the constitutional rights of the province wherein gas is produced in surplus quantity.As per details, the Sui Northern Gas Pipelines Limited (SNGPL) has issued a notification regarding the suspension…

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Natural gas prices are rising and could be the most expensive in 13 years this winter

Natural gas prices have doubled this year and are expected to continue to rise, resulting in larger winter heating bills for some consumers and higher costs for electric utilities. Natural gas is plentiful in the United States and has been cheap for years, so the jump in prices this year is eye popping. It has also lifted the shares of companies that specialize in natural gas production, like EQT, Range Resources, Cabot Oil and Gas and Antero Resources. In the futures market, the natural gas contract for October rose above…

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U.S. Gulf Coast oil refiners recovering faster than producers

Most of the nine Louisiana refineries shut by Hurricane Ida have restarted or were restarting on Friday, nearly two weeks after the powerful storm came ashore, a Reuters survey showed. Refiners are coming back faster than oil production, a reverse of past storm recoveries. Just three of the nine refineries were completely idled, accounting for about 7% of Gulf Coast refining, compared to shut-ins of two-thirds of oil output. Valero Energy Corp’s (VLO.N) Meraux refinery on the Mississippi River east of New Orleans was restarting units on Friday, people familiar…

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Over two-thirds of offshore oil output remains shut in U.S. Gulf -regulator

Sept 10 (Reuters) – U.S. offshore oil companies restored almost 200,000 barrels of production on Friday, while most of the Gulf Coast crude output remained offline following Hurricane Ida, government data showed. The storm hit the U.S. Gulf of Mexico almost two weeks ago, damaging infrastructure and removing more than 21 million barrels of production from the market. Over two-thirds of the U.S. Gulf of Mexico’s oil production, or 1.2 million barrels per day, were still shut as repair efforts dragged on, helping to support global oil prices. Over 1.68…

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Deemed duty’s collection, utilisation continue to haunt refineries

The deemed duty collection in the past for upgradation purposes continues to haunt refineries as the Cabinet Committee on Transport and Logistics (CCoTL) here on Monday directed the Petroleum Division to come up within two days with details of deemed duty on POL products since its imposition on the POL consumers and utilisation of the amount collected in this head. The CCoTL sees massive scam of billions of rupees in the amount collected as deemed duty, which was not fully utilised for upgradation of the refineries but has been used…

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Country likely to face another gas crisis

The country is on track to face another gas crisis from 13-16 September, 2021 due to re-deployment of Floating Storage and Regasification Unit (FSRU) Exquisite after dry dock. A few day ago, the Board of Directors (BoD) of Sui Southern Gas Company Limited (SSGCL) rejected the offer of Engro of a bigger FSRU and asked the company to call its original unit, Exquisite, back to port. Sui Northern Gas Pipeline Company Limited (SNGPL), General Manager, Business Development, Corporate, Wajiha Anwar, has noted that in order to manage the gas load…

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NEPRA allows Rs1.37 tariff hike

The National Electric Power Regulatory Authority (Nepra) on Friday increased power tariff by Rs1.3771 per kilowatt-hour (kWh) on account of fuel cost adjustment (FCA) for July 2021. The Central Power Purchasing Agency-Guarantee (CPPA-G) had requested a positive FCA of Rs1.4685/kWh, having impact of Rs22.3 billion. The FCA for July 2021 will be charged in the billing month of September 2021, which will be paid by all consumer categories of XW-distribution companies, except for lifeline consumers. As per the data submitted by the CPPA-G, the total energy generated during July was…

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CCoE to discuss refining policy, cheap power tariff on Sept 13

A meeting of the Cabinet Committee on Energy (CCoE) has been called on Monday to consider approval of the oil refining policy 2021, cheaper electricity rates to domestic and commercial consumers to encourage incremental consumption for space heating in winter and retention of some old power plants ordered by the federal cabinet. To be presided over by Planning Minister Asad Umar, the meeting would also consider a policy direction for the operation of Re-gasified Liquefied Natural Gas (RLNG)-based power plants out of merit and Asian Development Bank-funded advanced metering infrastructure…

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After Pak Army’s security cover: Suspension of work at Dasu project worries Wapda

Following the subversive activity by anti-CPEC forces on July 14, Wapda has provided the signature of Pakistan’s regular Army at the Dasu Hydropower project’s site and upgraded its security apparatus up to the satisfaction of Chinese government, but even after almost two months, China’s Gezhouba Group Corporation (CGGC) has not started construction work, which is questionable. Gezhouba also suspended its construction work at Mohmand Dam site for 10-12 days. However, the work on Mohmand Dam was then set in motion but on Dasu it is still suspended. The one-day delay…

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Shutdown of Engro LNG terminal: Country to face gas crisis from 13th

This process will lead to closure of CNG, cement and non-export industry (general industry and its captive power plants) across the country for three days from September 13-15. However, with the arrival of old FSRU Exquisite, the ramp up process will continue till the midnight of September 15 and the LNG terminal will fully come on stream on September 16 with full regasification of 600mmcfd LNG. Following the refusal by the Board of Directors to retain the new FSRU Sequoia having storage capacity of 900mmcfd and re-gasification capacity of 780mmcfd…

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