Day: January 6, 2022

Operational constraints continue to affect the oil refining sector even though the local crude processors first raised the issue more than a month ago. Independent power producers (IPPs) are still not lifting locally processed furnace oil that they’re required to store on their premises for emergency use, said Mohammad Wasi Khan, chairman of Cnergyico PK Ltd (formerly Byco Petroleum), while speaking to Dawn on Wednesday. The country’s energy managers imported excess furnace oil for IPPs while expecting a shortage of LNG in winter months given its unusually high international prices.…

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Russia is considering oil and gas investments in Afghanistan, the spokesperson of the Taliban interim government confirmed following a meeting with Russian investors in the capital Kabul on Monday. “Mr. Mawlawi Sahib Abdul Salam Hanafi, the deputy prime minister (of the Taliban government), met with a joint delegation of Afghan and Russian investors in his office,” Zabiullah Mujahid wrote in a Twitter post. “In this meeting, the efforts, extraction and establishment of oil and gas refineries, and cement and alloy plants and the establishment of a cement production company were…

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The total petroleum and lubricant sales clocked-in at 1.51 million tons in December 2021, depicting a decline of six percent on year-on-year basis and 14 percent on month-on-month basis on account of significant decline in Furnace Oil (FO) volumes. FO volumes clocked-in at 0.13 million tons, down by 47 percent on YoY and 28 percent on MoM basis as compared to 0.24 million tons in December 2021 and 0.18 million in November 2021, respectively. The decline in sales volumes is attributable to lower Furnace Oil (FO) requirement amid slowdown in…

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The sudden and steep hike in the prices of liquefied petroleum gas (LPG) used widely in vehicles in Kazakhstan coupled with the government’s response, or “lack of response,” prompted citizens to flock to the streets in protest as 2022 was just beginning, in a rare outburst for the Central Asian country in its recent history. The protesters’ questions are clear: What was the reason behind the hike, and who is to blame? The price per liter of LPG jumped to 120 tenge (28 U.S. cents) at gas stations in hydrocarbon-rich…

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