Pakistan’s petroleum group imports surged up 112.3 percent to $8.340 billion in the first five months of the current fiscal compared to $3.947 billion in the corresponding period of last fiscal. “The global price of petroleum products caused the massive surge in the import of petroleum groups, with increased quantity of these products also adding its share in it,” said…
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Why are we facing an unprecedented gas supply crisis and why is the government silent about it? Why are we being told that the current system is unsustainable without being explained why this is so? A few months back, Energy Minister Hammad Azhar, unapologetically engaged in a heated debate with an anchor of a local TV channel where he refused…
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Russian natural gas deliveries to Germany through the Yamal-Europe pipeline have fell again on Sunday after rising briefly from Saturday levels, data from German network operator Gascade showed. By midday, flows at the Mallnow metering point on the German-Polish border were down to an hourly volume of around 370,000 kilowatt hours (kWh/h), falling from the levels of just over 4,000,000…
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The letter says any statements calling for an end to new exploration have shaken investor confidence, placing tens of thousands of jobs at risk. It warns politicians against creating a “hostile investment environment”. The letter, from Aberdeen & Grampian Chamber of Commerce, supported by The British Chambers of Commerce and Scottish Chambers of Commerce, has also been signed by 58…
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U.S. oil demand and inventories have offered support to oil prices in recent months and, volatility excluded, have continued to do so, with stocks below the five-year average for this time of the year. While oil prices have swung in recent weeks between as high as $85 in late October to below $70 in late November amid fears of Omicron…
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Attention of Authorized Dealers is drawn towards Para 27 of Chapter 14 of Foreign Exchange Manual in terms of which SBP notified the process of remittance for Petroleum Sector. 2. Based on representations received from various stakeholders, it has been decided to amend Para 27 of Chapter 14, as under: “27. Remittance for Petroleum Sector Operating under Petroleum Concession Agreement(s):Authorized…
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A previous version of this post appeared on Dawn Prism titled The Analytical Angle: Addressing the woes of Pakistan’s electricity distribution sector. Electricity is the wheel that drives all facets of our daily lives such as production, consumption, communication, transportation and routine financial transactions. Despite its key role in powering the national economy, Pakistan’s electricity sector continues its struggle with…
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The National Transmission and Dispatch Company Limited (NTDC) is expanding its infrastructure by constructing transmission lines and grid stations to meet the growing demand of electricity across the country expeditiously. In order to check the progress of the 500 kV substation Faisalabad West and 220 kV Lalian grid station, the Managing Director NTDC Engr. Manzoor Ahmad visited both sites of…
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Singapore based LNG trading company — GUNVOR has intimated the authorities in the government that it will not be able to deliver its term LNG cargo which is due on January 10, 2022 by claiming the force majeure. However, it has not yet informed Pakistan LNG Limited as to when this term cargo will be provided, a well placed senior…
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Amid major gas supply constraints, the government may have to rethink its energy subsidy priorities after coughing up over Rs80 billion per annum in handouts to the export industry in the last over three years as it found little connection between subsidies and export growth, with the textile industry even reneging on its side of the pledge. A senior government…
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