Year: 2022

WWEA expresses solidarity with the flood victims in Pakistan. The country has been hit by the so far worst single climate disaster. Following extremely heavy monsoon rains, a third of the country is currently under water and more than 30 million people have been directly affected by the floods, many of them lost their homes. WWEA calls on governments and people around the world to support the people of Pakistan in this tragic crisis. Immediate aid is needed to help the country cope with the worst effects of the disaster,…

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Owners said more than 500 trucks have been left stranded on the roads of the two provinces and the provincial governments have not taken any step to rescue them. The oil supply in the country will be badly affected, if they are not rescued in two days, they warned. All Pakistan Oil Tanker Association Chairman Mir Shams Shahwani said heavy traffic had come to a halt in Sindh, Balochistan and other parts of the country after heavy rains and floods. “Our trucks have been stranded in far-off areas for two…

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Oil Marketing Companies (OMCs) have concerns over terms of references (ToRs) to be developed by the Oil and Gas Regulatory Authority (OGRA) with the specified timeline regarding the deregulation of petroleum products, The News learnt on Monday. The deregulation of prices would provide OMCs the liberty to fix prices of petroleum products based on their cost of local procurement / imports. The rationale of deregulation of prices would enable each OMC to absorb their cost / losses, which were incurred in terms of forex exposure, incidentals, demurrage cost, storage cost…

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The Economic Coordination Committee (ECC) is likely to approve arrangements between Pakistan LNG Limited (PLL) and Pakistan GasPort Consortium Limited (PGPCL) to utilise the excess capacity of an LNG terminal. LNG operators have been urging the government to allow the utilisation of idle capacity of terminals as under-utilisation places a burden of multibillion-rupees on consumers on account of capacity charges. With PLL and PGPCL having reached an understanding to utilise the excess capacity, capacity charges will fall from $0.4177 to $0.383647 per million British thermal units (mmbtu). Despite third-party access…

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The National Electric Power Regulatory Authority (Nepra) on Monday notified Rs4.34 per unit additional fuel cost adjustment (FCA) for ex-Wapda Distribution Companies (Discos) for electricity consumed in July to provide Rs69 billion additional funds to cash-starved entities in September’s bills. The regulator “has reviewed and assessed an increase of Rs4.34 per kWh in the applicable tariff for Discos on account of variation in the fuel charges for July,” reads a notification issued by Nepra on Monday. The notification said the additional FCA shall apply to all the consumer categories except…

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