Year: 2021

The Ministry of Energy Tuesday gave a detailed briefing to the Senate’s Standing Committee on Petroleum about the situation of gas supply especially during the peak winter season, shortages of the commodity and the measures taken by the authorities concerned to tackle the gas demand-supply gapISLAMABAD, (UrduPoint / Pakistan Point News – 12th Oct, 2021 ) :The Ministry of Energy Tuesday gave a detailed briefing to the Senate’s Standing Committee on Petroleum about the situation of gas supply especially during the peak winter season, shortages of the commodity and the…

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Global RLNG traders have shown no interest in supply of liquefied natural gas (LNG) for December and January 2022 due to delay in inviting tenders, Ghiyas Abdullah Paracha, CEO of Universal Gas Distribution Company (UGDC) and Central leader of All Pakistan Compressed Natural Gas Association (APCNGA) told Business Recorder. Pakistan LNG Ltd (PLL) did not receive any offers in a tender seeking eight spot cargoes for delivery over December to January. Pakistan LNG had issued the latest buy tender in September with offers due by October 11 and to remain valid…

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The government has reportedly agreed to pass the withheld determined power tariff increase of Rs 1.39 per unit to consumers in phases, well informed sources told Business Recorder. This understanding has reportedly been reached between Pakistani authorities, International Monetary Fund (IMF), World Bank and Asian Development Bank (ADB). The sources said Finance Minister Shaukat Tarin, who is reaching Washington for talks with IMF will be carrying the message that the government will raise tariffs. Previously, Prime Minister Imran Khan and Tarin openly opposed any increase in base tariff as according to…

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Pakistan is looking to buy liquefied natural gas (LNG) for the winter, but it couldn’t find any sellers in a recent tender, which highlights the fact that the natural gas market in Asia is tight. Pakistan has issued a tender seeking eight LNG cargoes for delivery in December and January, but has not received any bids, according to a document from Pakistan LNG. Industry sources told Reuters that the main driver behind the lack of offers was the long validity period of the offers, 15 days, considering the volatile prices…

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An Accountability Court (AC) on Tuesday sought comments from National Accountability Bureau (NAB) in a petition of co-accused seeking dismissal of LNG reference under new NAB Ordinance. However, former prime minister Shahid Khaqan Abbasi and ex-finance minister Miftah Ismail didn’t become part of the petition. AC-II Judge Muhammad Azam Khan heard the reference filed by NAB against the above accused. At the outset of hearing, the defence lawyer produced the copy of NAB Ordinance before court and prayed it to dismiss the reference under new law. Barrister Qasim said they…

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