Month: February 2022

Weighted average cost of gas (WACOG) Bill is a positive sign for Pakistan, as it would ensure gas availability across all sectors countering the impact of depleting domestic gas reserves. Under the new pricing mechanism, the ratio of supply of local gas and the liquefied natural gas (LNG) would change to 50/50 from the current 70/30 in two years and 80/20 in the long run. Descon Oxychem and Sitara Peroxide meet their feed requirement via imported RLNG. This would decrease the cost for the companies by 35 per cent. Further, HP…

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The Businessmen Panel (BMP) of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Sunday called for early completion of renewable energy projects, besides removing the hindrances to avoid delay, as the execution of several wind, solar and hydel power projects are getting delayed. The Businessmen Panel (BMP) Chairman Mian Anjum Nisar warned the government of the impediments including land acquisition, financial flows, Covid-19, and emerging security scenario, causing delays and cost escalations to the Diamer Bhasha and Mohmand Dams, affecting the timeliness set for completion of the projects.…

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Pakistan Petroleum Limited (PSX: PPL) announced its financial performance for 1HFY22 last week where its earnings for the six-month period were seen increasing by 21 percent year-on-year. The same was seen growing by 24 percent year-on-year in 2QFY22. The growth in bottom line was however not due to higher oil and gas production. Though PPL is an aggressive E&P sector giant, the declining reserves and small discoveries in general in the upstream oil and gas sector in the country have been stagnating crude oil and gas exploration and production. During…

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