Year: 2022

Oil sector has warned of acute fuel shortage if its price differential claims (PDC) are not cleared on time, petrol volume in white oil pipeline is not increased fast, and timely payments under petrol IFEM (Internal Freight Equalization Margin) are not ensured. If this situation continues to stay unabated, then industry will not be able to meet the country’s fuel demand,” said Oil Companies Advisory Council (OCAC) in a letter to the country’s energy watchdog. The OCAC said dragging feet on this triad of actions would worsen the cash flow…

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Oil and Gas Regulatory Authority (OGRA) has slashed the price of Re-gasified Liquefied Natural Gas (RLNG) for Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company (SSGC) by $0.20/mmbtu to $15.62/mmbtu and $16.91/mmbtu, respectively for the month April. According to the revised price notified by OGRA, a total of eight RLNG cargoes were received out of which seven were received from Pakistan State Oil (PSO) while Pakistan LNG Limited (PLL) imported only one LNG cargo. The authority also computed the total weighted average sale price of RLNG without…

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The meeting discussed various measures to control the skyrocketing prices of petrol in the country. The participants of the huddle were briefed on the existing formula relating to fuel prices in the country. It was discussed in the meeting how the government can continue subsidies on petroleum products. The participants also discussed steps to overcome electricity load shedding amid ongoing sweltering weather conditions in the country.   Talking about subsidy on petroleum products, ex-finance minister Miftah Ismail told Geo News Tuesday that the government was currently bearing a loss of Rs40…

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Banks have revised credit lines for the oil industry to facilitate the import of petroleum products to meet the country’s requirements. Earlier, the Oil Companies Advisory Council (OCAC) – an industry lobby – brought the matter before the State Bank of Pakistan (SBP), asking it to intervene and advise commercial banks to enhance the credit limit for oil companies. OCAC pointed out that the banks had labelled the oil companies as risk entities and were not willing to provide financing for the import of petroleum products. In a meeting with…

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Former Federal Climate Change Adviser, Malik Amin Aslam, has cautioned the newly elected government against launching again new imported coal-based power generation projects as doing so wouldn’t be in the interest of Pakistan. The former Climate Change Adviser expressed these remarks while taking part in a dialogue on “Pakistan’s New Government: the future for Energy and Environment” organised by the Third Pole. Aslam recalled on the occasion that shelving new power generation plants based on imported coal was one of the key policy initiatives of the previous government to improve…

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