Day: September 22, 2023

Change in gas prices to be announced soon: energy minister

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gas-prices

Caretaker Minister for Energy Muhammad Ali on Thursday said gas prices in the country had consistently been a matter of concern, underlining that forthcoming announcements would detail the impending changes in the price of the commodity. The minister made these remarks during a visit to the Lahore Chamber of Commerce and Industry (LCCI). Caretaker Federal Minister for Commerce, Industries, and Production, Gohar Ejaz, was also attended the event. The Oil and Gas Regulatory Authority (Ogra) had in June this year asked the government to increase gas tariff by 45 per cent to…

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Barrick says big miners eyeing its Pakistan copper project

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TORONTO: Barrick Gold’s top executive says it’s not just Saudi Arabia interested in his company’s massive copper project in Pakistan — some major mining companies are, too, Bloomberg News reported. The Canadian miner’s $7-billion Reko Diq project in Balochistan — a region bordering Afghanistan and Iran — boasts one of the world’s largest copper deposits and could become a major source of the wiring metal. Barrick is the only mining company that hasn’t shied away from the project’s risky geography, after Chilean miner Antofagasta Plc sold its stake in the…

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Govt pushes for Qatari LNG project amid pipeline bottleneck

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LNG

ISLAMABAD: Pakistan is seeking to revive a stalled $200 million Qatari investment in a liquefied natural gas (LNG) terminal project that has faced bureaucratic hurdles for five years over the allocation of pipeline capacity, officials said on Thursday. The Energas terminal, which is to be operated on a business-to-business (BtB) model with no government guarantee on RLNG takeoff, will have the capacity to re-gasify up to 1,000 million cubic feet per day (mmcfd) of LNG. In addition, Pakistan Port Gas Limited’s LNG terminal-2 and Tabeer LNG terminal owned by Japan’s…

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Coal pricing mechanism: power plants, coal suppliers question Nepra’s proposed revision

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coal

ISLAMABAD: Coal power plants and coal suppliers on Thursday raised questions on NEPRA’s proposed revision in coal pricing mechanism without taking them on board, making irrational deductions, and the exchange rate that is hitting them as their invoices are not being cleared by the concerned agency. The NEPRA Authority, comprising Chairman Waseem Mukhtar, Member (Tariff and Finance), Mathar Niaz Rana, (Balochistan) Member (Technical), Rafique Ahmad Shaikh, (Sindh) Member, Khyber Pakhtunkhwa, Maqsood Anwar Khan and Member (Law) Amin Ahmad(Punjab) officiated public hearing which was attended by the representatives of coal-fired plants,…

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OGDCL and NUST forge strategic partnership

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OGDCL-NUST

ISLAMABAD: In a landmark development to address critical exploration and production (E&P) issues, the Oil & Gas Development Company Limited (OGDCL) and the National University of Sciences and Technology (NUST) have forged a strategic partnership to drive innovation, research, and educational excellence in Pakistan’s energy sector. OGDCL and NUST have signed a Document of Understanding (DoU), ushering in new opportunities for innovation, research, and educational excellence in Pakistan. The DoU was signed by Ahmed Hayat Lak, CEO of OGDCL, and Dr Rizwan Riaz, Pro-Rector RIC representing NUST, in a ceremony…

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