Year: 2022

Oil prices may be jacked up slightly

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The government is likely to slightly increase prices of petroleum products to collect more revenue from oil consumers in the next fortnight from November 16 to 30, 2022. “Prices of petroleum products may be increased by Rs3 to Rs4 per litre,” an official of the Petroleum Division said. He added that the government was expected to adjust taxes on petroleum products to increase revenue collection in line with the commitment to the International Monetary Fund (IMF). It has already raised the petroleum levy on petrol and high octane blending component…

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Gas Prices to be Increased

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As Sui Northern Gas Pipeline Limited (SNGPL) prepares to seek a massive price hike to meet its revenue shortfall, gas prices for consumers in Punjab and Khyber Pakhtunkhwa (KP) are likely to see an increase. According to the Oil and Gas Regulatory Authority (OGRA), a public hearing was held on Monday to review a petition filed by SNGPL. The petition, which was filed on October 14, 2022, sought a review of its estimated revenue requirement/prescribed prices for the financial year 2022-23, under Section 8(2) of the OGRA Ordinance 2002 read…

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ADB country director meets Wapda Chief

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Asian Development Bank (ADB) Country Director Yong Ye called on Chairman Wapda Lt Gen Sajjad Ghani (retd) to discuss financing of projects. A 5-member ADB delegation visited Wapda. The Member (Finance) Wapda and Member (Power) joined Chairman Wapda. The Wapda officials briefed about clean and green energy generation plan of Wapda to add low-cost and environment-friendly hydel electricity to the national grid for stabilizing power tariff in the country. The delegation was appraised that Wapda projects have excellent investment opportunities. It was further informed about the innovative financing strategy for…

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Oil Falls

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Oil prices fell on Monday, dragged down by a firmer US dollar while surging coronavirus cases in China dashed hopes of a swift reopening of the economy for the world’s biggest crude importer. Brent crude futures were down 76 cents, or 0.8%, at $95.23 a barrel by 1510 GMT after gaining 1.1% on Friday. WTI crude futures fell 93 cents, or 1.1%, to $88.03 after advancing 2.9% on Friday. “US dollar strength appears to be weighing on oil and the broader commodities complex this afternoon,” said Warren Patterson, head of…

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Ogra Holds Public Hearing on SNGPL’s Review Petition

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ogra gas

A public hearing was held by the Oil and Gas Regulatory Authority (Ogra) for the review of the petition filed by the Sui Northern Gas Pipelines Limited (SNGPL) (petitioner) in Lahore. The petition was filed on October 14, 2022 before the Authority under Section 8(2) of the Oil and Gas Regulatory Authority Ordinance, 2002 read with Rule 4(3) of Natural Gas Tariff Rules, 2002 for Review of its Estimated Revenue Requirement / Prescribed Prices for Financial Year 2022-23. In a statement, the Ogra says that all the stakeholders, consumers and…

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