Year: 2022

The South Asian subcontinent is facing a massive energy crisis, which has placed regional governments on edge, compelled widespread switching to extremely polluting fuels like coal and fuel oil, and plunged nations like Sri Lanka into socioeconomic chaos. An uninterrupted, reliable, and economical energy supply is a crucial prerequisite for lowering poverty, promoting investment, and accelerating economic progress in a developing nation like Pakistan. Pakistan’s energy resources have been inefficiently utilized for decades due to poor energy management. As a result, the country is experiencing a severe energy crisis that…

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Engro Eximp FZE, a subsidiary of Engro Corporation, announced today that it has entered into a Memorandum of Understanding (MoU) with Excelerate Energy, Inc. (NYSE: EE) (Excelerate), a leading provider of flexible LNG infrastructure solutions around the world, related to the development of a private sector gas marketing business in Pakistan. Under this MoU, both partners will jointly evaluate the possibility of establishing a regasified LNG (RLNG) marketing business with maximum participation from the country’s private sector. This initiative has the potential to increase private company participation in Pakistan’s LNG…

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as & Oil Pakistan Ltd (GO) announced its plans to roll out its new and innovative fuel station concept “goLink” across Pakistan. The goLink station is a mobile fuel station format that will enable for motorists easy access and convenient fueling services in their direct vicinity. It is designed to significantly reduce driving time for customers to find a petrol pump as it can be deployed on existing parking lots or paved areas. Speaking at the occasion, Zeeshan Tayyeb, Chief Operating Officer for GO stated that “goLink Station will significantly…

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Dubai-based trader Coral Energy has become the top fuel oil supplier to Pakistan in recent months after winning a slew of import tenders floated by state-run Pakistan State Oil (PSO), data compiled by Reuters showed. Coral Energy won tenders to sell eight fuel oil cargoes to PSO during April-August, said a spokesman for Pakistan’s energy ministry, as the country’s demand for oil in power generation grew after liquefied natural gas prices surged. This is equivalent to more than 475,000 tonnes of fuel oil, Reuters calculations showed. Pakistan imported about 992,500…

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Oil marketing companies (OMCs) and refineries already mired in deep financial constraints would face almost Rs15 billion losses in next fifteen days due to altered exchange rate formula implemented by the government from August 1. The government changed the exchange rate formula from the last day of a fortnight to an average of two weeks, something that has irked both the OMCs and refineries, as the decision would lead to a loss of Rs9.8/litre on hi-speed diesel and Rs8.21/litre on mogas (petrol). Already crisis-stricken oil industry has warned the government…

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