Year: 2022

Sui Southern Gas Company (SSGC) has announced to shut down CNG stations in the province for three days in the ongoing week, ARY NEWS reported. According to an announcement from the SSGC, the CNG stations have been shut down for 72 hours in the ongoing week. There will be no CNG available for 72 hours from Friday to Monday, the company said and added that the stations will remain shut from 8:00 am on Friday to 8:00 am on Monday. It further shared that the decision was taken in wake…

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The country has purchased around 10 liquefied natural gas (LNG) cargoes at a weighted average cost of $14.5 mmbtu (Metric Million British Thermal Units) for the current month, which is almost 75 percent less as compared to the existing rate of $60/mmbtu in the international spot market. Minister for Energy Hammad Azhar said this in a tweet on Thursday, adding: “LNG spot cargoes have touched $60/mmbtu in international markets”. “However Pakistan’s weighted average of 9-10 cargoes arriving in March is priced only at $14.5/mmbtu of long term and spot cargoes…

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As a major supply crunch of liquefied natural gas (LNG) looms amid Russia’s invasion of Ukraine, Pakistan is switching to expensive and dirty diesel fuel to generate electricity, Bloomberg has reported. Pakistan’s diesel-fired power generation surged to the highest level in at least seven years in January, while LNG-based output dropped to the lowest in almost two years, according to government data compiled by Arif Habib Ltd. It is prudent to note that the two fuels each generated about 7% of the South Asian country’s electricity in January. That’s bound…

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Senate Standing Committee on Maritime Affairs, Thursday, asked the Gwadar Port Authority (GPA) to expedite work on acquisition of land for the port, as the panel was informed that PC-1 regarding land acquisition worth Rs48 billion has been sent to the prime minister for approval. The committee, chaired by Senator Rubina Khalid, was given a detailed briefing on Gwadar Port Development Plan by Chairman GPA Naseer Khan Kashani, on a question asked by Senator Palwasha Khan in the Senate sitting. While briefing the committee, the Chairman GPA apprised that the…

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Oil Companies Advisory Council (OCAC) has warned of a brewing petroleum crisis, similar to the one in June 2020, in case the government kept domestic prices frozen till the next budget as per the prime minister’s announcement. Warning the Ministry of Energy, OCAC, the umbrella organisation of oil sector companies in a letter requested the ministry to remove Price Differential Claim (PDC) element to revise petroleum product prices immediately or alternatively implement a subsidy mechanism. Referring to the Oil and Gas Regulatory Authority (Ogra) announcement imposing Rs2.28/liter PDC on High…

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