Year: 2021

SNGPL DECIDES AGAINST SHUTTING GAS SUPPLY TO CNG STATIONS, INDUSTRIAL UNITS

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Sui Northern Gas Pipelines Limited (SNGPL) on Sunday announced that gas supply to industrial units and compressed national gas (CNG) stations in Punjab will not be shut on Monday (tomorrow), ARY NEWS reported. The SNGPL spokesman said that they have decided against any closure of the gas supply while keeping in view the issues faced by the consumers. He said that despite dry docking, it has been decided to resume the supply across the province. “The duration of the dry-docking process will be determined on the basis of gas supply…

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Critics question the climate crisis benefits of deep seabed mining

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Few people have ever heard of the tiny country of Nauru. Even fewer ever think about what happens at the bottom of the world’s oceans. But that may soon change. The seafloor is thought to hold trillions of dollar’s worth of metals and this Pacific-island nation is making bold moves to get a jump on the global competition to plumb these depths. The targets of these companies are potato-sized rocks that scientists call polymetallic nodules. Sitting on the ocean floor, these prized clusters can take more than three million years…

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Oil & Gas: Operating environment has got better

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We expect OMCs to benefit from (i) the recent improvement in auto fuel marketing margins amid range-bound crude oil prices; (ii) gradual recovery in benchmark refining margins driven by anticipated recovery in global demand; and (iii) a rebound in domestic petroleum consumption post the second Covid wave. We find the valuations inexpensive for HPCL and IOCL at around 5X EV/Ebitda and BPCL’s at 6.2X EV/Ebitda reflecting a modest premium for privatisation. Our calculations suggest that auto fuel marketing margins improved in the recent months amid a moderation in crude prices…

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Solar financing — push needing a shove

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Spurred by falling solar photovoltaic (PV) prices and escalating grid tariffs, solar installations, especially those on rooftops, have seen rapid growth in Pakistan. These solar investments, both residential and commercial, are also supported by a decent net metering regime that lets consumers sell excess solar generation during daytime back to the grid. However, despite having a renewables refinance facility from the State Bank of Pakistan (SBP), the local banks have failed to tap into what is, perhaps, one of the fastest-growing segments in the country. Per industry estimates, around 3,500MW…

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Questions raised about oil refining policy

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One of the country’s intelligence agencies has raised questions over the Pakistan Oil Refining Policy 2021 being taken up by the Cabinet Committee on Energy for approval on Monday (today). The committee, headed by Planning and Development Minister Asad Umar, will also consider cheaper electricity rates for domestic and commercial consumers for winter space heating, retention of some old power plants ordered by the federal cabinet for closure, policy guidelines for out-of-merit use of LNG-based power plants and revival of Asian Development Bank-funded smart metering for power companies. Informed sources…

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