Year: 2021

Pakistan To Raise Green Energy Share By 30% In 10 Years

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The government is making all-out efforts to increase the share of renewable energy in the electricity generation by 30 per cent in the next 10 years, a senior government official said on Wednesday. Talking to German Ambassador to Pakistan Bernhard Schlangheck, who called on him, Federal Minister for Energy Hammad Azhar appreciated the recent signing of the implementation agreement for GIZ Pakistan’s Renewable Energy and Energy Efficiency II (REEE II) project worth 8.1 million euros, and said that the cooperation between Pakistan and Germany in the energy sector has witnessed considerable growth.…

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Local gas production tumbles by 10pc

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In an alarming development, the local gas production in the country has tumbled by 10 per cent in 2019-20 to 2,138 BCFD (billion cubic feet gas per day) from 2.379 BCFD last year (2018-19) whereas the gas consumption has declined by 6 per cent to 3,714 MMCFD from 3,969 MMCFD during the same period. According to the OGRA’s State of the Regulated Petroleum Industry Report for the fiscal year 2019-20, issued here on Wednesday, the natural gas production has gone down by 10 per cent in 2019-20. The deficit between…

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Petroleum Products Share In Power Generation Falls 43%; Gas Shortfall To Rise Further

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The consumption of petroleum products in the power sector declined 43 per cent, whereas the demand and supply gap between gas production and consumption is likely to increase three times in the next 10 years. According to a report “State of the Regulated Petroleum Industry 2019/20”, released by the Oil and Gas Regulatory Authority (Ogra), the oil sector of the country has faced major challenges due to unprecedented crisis emanating from the Covid-19. The import of crude oil and petroleum products declined 26.42 per cent and 7.60 per cent, respectively,…

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Third day of talks on PSGP: No sovereign guarantee for profit, Pakistan tells Russian team

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Pakistan will not extend to Russia the sovereign guarantee against 26 percent shares in Pakistan Stream Gas Pipeline Project (PSGP). However, it has extended assurances to Russia which are enshrined in the amended Inter-Government Agreement (IGA). Pakistan will be having 74 percent shareholding and Russia 26 percent. This was the essence of the third day of talks between Pakistan and Russian excerpts on the project of paramount importance. However, the Oil and Gas Regulatory Authority (OGRA) will determine the tariff of the pipeline. The regulator will include in the tariff…

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Petrol price in Pakistan likely to increase by Rs11.5 per litre from July 16

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Media reports said that the Oil and Gas Regulatory Authority (OGRA) has forwarded a summary to the government, suggesting an increase by Rs11.5/litre in petrol price and Rs2.40 in high speech diesel price for remaining days of the running month. The regulatory body has proposed Rs1.40 increase in light speed diesel’s price and Rs1.5/litre in kerosene oil price The final decision will be taken by the finance ministry after taking the prime minister on board. Earlier, the federal government had raised petrol prices by Rs 2 per litre for the…

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