SNGPL to ensure uninterrupted gas supply to textile mills

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The Peshawar High Court (PHC) on Wednesday directed the Sui Northern Gas Pipeline Company (SNGPL) to ensure uninterrupted gas supply to textile mills. The order was issued by PHC’s two-judge bench comprising Justice Shakeel Ahmed and Justice Ijaz Anwar while hearing a writ petition submitted by the Khyber Pakhtunkhwa Textile Mills Association through Yasir Khattak, Farooq Afridi and Asadullah advocates.…

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Addressing the mountain of debt

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Sustainable economic growth requires identifying gaps, devising effective policies and working towards consistent improvement despite daunting challenges. The textile industry has invested $5 billion in new plants, machinery & equipment, and more capacity is being added, the results of which can be seen in increased production and exports, but all of this is at stake. By ensuring that exports are…

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OGRA chief vows to implement ordinance in true letter & spirit

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Oil and Gas Regulatory Authority (Ogra) Chairman, Masroor Khan, has reiterated his commitments to implement the Ogra Ordinance in its letter and spirit to attract private investment, provide a level playing field to the industry by promoting competition and protecting consumer interest. He was invited to deliver a keynote speech on behalf of the government of Pakistan and the Ogra…

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Peshawar High court stays suspension of gas supply to KP textile mills

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The Peshawar High Court on Wednesday issued a stay order against ‘frequent’ suspension of gas supply on different grounds to textile mills in the province and directed the Sui Northern Gas Pipelines (SNGPL) to provide uninterrupted gas to the mills till further order. A bench consisting of Justice Ijaz Anwar and Justice Shakeel Ahmad issued the order over two identical…

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Russia Increasingly Using Own Oil Tankers To Boost Shipments To Asia

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Russia’s state-owned oil producers Rosneft and Gazprom Neft have started to use tankers of local state tanker operator Sovcomflot to ship their crude to Asia, Bloomberg reported on Wednesday, quoting tanker-tracking data and sources familiar with the operations. Tankers owned by Sovcomflot struggled to find destinations shortly after the Russian invasion of Ukraine as countries either banned imports of Russian…

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U.S. Shale Drillers Cautious Despite Record Earnings

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Back in mid-February, Pioneer Natural Resources’ Scott Sheffield told Bloomberg that “Whether it’s $150 oil, $200 oil, or $100 oil, we’re not going to change our growth plans.” Despite all that has happened since then, centered on Russia’s invasion of Ukraine, the attitude expressed by Sheffield in February has not changed, even though shale drillers are now almost literally raking…

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