Year: 2021

Saudi Arabia May Cut Oil Prices For Asia

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Saudi Arabia could cut the official selling price for oil to Asian buyers in February after raising them substantially this month. According to a Reuters report citing industry insiders and poll data, the Kingdom could slash the prices for all its export grades by as much as $1 per barrel and more, which would push these prices to their lowest in three to four months. Earlier this month, Saudi Arabia raised its official selling prices for oil to Asia by $0.60 per barrel, which brought them $3.30 per barrel above…

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High Energy Prices To Persist In Europe Despite Arrival Of U.S. Gas

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Europe’s energy crunch is far from over, but a flotilla of liquefied natural gas (LNG) tankers from the U.S. are set to resupply the fuel-starved continent. European gas prices fell for the sixth day, the longest decline in more than a year. Even though natural gas prices are retreating from record highs, household power bills, especially in Great Britain, are likely to remain high until 2023. This year, Dutch TTF natural gas prices surged more than 400% on low supplies ahead of the Northern Hemisphere winter and Russia reducing flows.…

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Rs23,911.77m disbursed for Power Division’s projects so far

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The government has disbursed a sum of Rs23,911.77 million for various power division schemes under the annual Public Sector Development Programme (PSDP) for year 2021-22 so far. According to the data, the government has specified Rs69,485.05 million under PSDP-2021-22 for various power projects with Rs40,174 million foreign aid components. An amount of Rs10,520.74 million has been spent on various projects out of the total authorized/disbursed Rs23,911.77 million so far. A sum of Rs9,256.25 million as a foreign component has also been disbursed till October. A sum of Rs22,000 million was…

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Saudi ambassador, Hammad Azhar discuss energy sector cooperation

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Ambassador of Saudi Arabia to Pakistan Nawaf bin Saeed Al-Maliki called on Federal Minister for Energy Muhammad Azhar on Tuesday. During the meeting, the minister also highlighted expeditious steps taken by incumbent government in energy infrastructure development across the country, said a press release issued. The minister apprised the ambassador of government’s initiatives in energy sector focusing on induction of renewable energy policy to harness local resources for power generation. He further added that the government gives top priority to exploration and production activities in oil and gas sector which…

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MD SNGPL Ali J. Hamdani Issues directives on consumers’ complaints

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Sui Northern Gas organized an e-Kachehri at its Head Office. Managing Director SNGPL Ali J. Hamdani listened to complaints of customers and directed relevant officials for immediate resolution of complaints. Senior Management of the Company along with Regional Managers attended E-Kachehri through video conference. Consumers belonging to different areas of Punjab and Khyber Pakhtunkhwa lodged complaints related to gas connection, billing and gas pressers. MD SNGPL Ali J. Hamdani issued directives to the relevant regional managers and assured customers of quick resolution of their issues. It is pertinent to mention…

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