Year: 2022

Displeased over the continued absence of the federal power minister from its meetings, the Senate Standing Committee on Power on Tuesday once again deferred a key government bill and expressed concern over rising circular debt and ‘out-of-merit’ selection of directors to the boards of power sector entities. The meeting of the committee presided over by Senator Saifullah Abro took up the government bill “The Pakistan Penal Code (Amendment) Bill 2022”, as passed by the National Assembly and moved by former law minister Azam Nazeer Tarar on Aug 18. The committee…

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State-run gas utilities, Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company (SSGC), have sought a massive increase in gas prices, ARY News reported on Tuesday. According to details, the gas companies have filed a petition with Oil and Gas Regulatory Authority (OGRA), seeking a massive increase in gas prices. SNGPL has asked OGRA to increase the prescribed price by 237 percent, while SSGC has sought an upward revision by 96.36 percent. OGRA would hold the public hearing on Sui Nothern’s petition on Nov 14 in Lahore and…

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Four new exploration blocks in Balochistan have been provisionally awarded to Mari Petroleum Company Limited (MARI), Pakistan Petroleum Limited (PPL), and Oil and Gas Development Company Limited (OGDCL) by the Ministry of Energy’s Directorate General of Petroleum Concessions (DGPC). The E&P companies informed the Pakistan Stock Exchange (PSX) of this on Tuesday. “The Government of Pakistan has provisionally awarded four new blocks (Shaigalu, South Pishin, Tanishpa, and Lugai) to joint ventures of PPL, OGDCL and MARI,” said PPL in its notice, of which two blocks will be operated by ODGCL,…

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Winters are approaching, in fact are there already. There is usually higher gas demand in winters due to heating and later heating requirements. Local gas supplies have been decreasing 10% per year. In the last few years, LNG filled quite some gap and used to be quite affordable. As is common knowledge, there is energy and especially gas crisis all over the world. Suppliers are not responding to our tenders due to the tight supply situation. Europe is a large well-paying market. LNG is not available at right prices. As…

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The Ministry of Energy’s Petroleum Division on Tuesday dismissed reports over an impending fuel shortage, terming the news “contrary to facts”. The ministry in a post on its Twitter handle informed that as of November 7, 2022, petrol stocks were around 550,000 metric tons (MT), which is sufficient for 21 days. “Diesel stocks are 438,000MT, adequate for 15 days, based on Oil Companies Advisory Council’s (OCAC) stock position,” it said. Earlier on Tuesday, the Oil and Gas Regulatory Authority (OGRA) regarding the looming shortage of diesel stocks in the country.…

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