Year: 2021

SINGAPORE: Pakistan State Oil (PSO) is seeking a liquefied natural gas (LNG) cargo for delivery in April through a tender after a five-year contract with commodity trader Gunvor expired in December, three industry sources told Reuters. If awarded, this will be the state-owned company’s first spot purchase in about three years, two of the sources said. PSO last sought spot cargoes in October, for delivery over November to January, but did not award the tender as demand had dropped amid the coronavirus pandemic and a surge in hydropower generation, one…

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LAHORE: In a bid to cut down reliance on the national grid, Punjab plans to generate over 5,000MW electricity — including 300MW through launch of several small hydropower projects — under short, medium and long-term strategies by 2024. The province has also floated tenders to launch construction of 12 mini hydropower projects before June this year, Dawn has learnt. “Save electricity for yourself and the nation is a slogan of the federal government, but we have slightly changed it for Punjab. ‘Make Electricity for yourself and the nation’ is our slogan,” Punjab…

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ISLAMABAD: As the international market continued its downward journey, state-run Pakistan LNG Limited (PLL) has received cheaper bids for two cargoes of liquefied natural gas (LNG) for deliveries in April. The PLL on Friday said Vitol Bahrain offered the lowest bids of 1.0522 per cent and 10.88933pc of Brent Crude Price for April 5-6 and April 19-20 delivery windows, respectively. This is the lowest bid PLL has secured from the spot market since Sept 22-23, 2020. The LNG prices had since been on a steady increase. The PLL bid results…

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