It’s time to review the price cap on Russian crude oil, Ukraine’s foreign minister said on Thursday because the current market price of Urals is below the cap. A coalition made up of the G7 countries as well as Australia and the EU set last year a price cap on all seaborne Russian crude oil. The goal was to reduce Russia’s oil revenue that it could funnel into its war with Ukraine. Russia, however, said it would not play along with the measure and said it would refuse to sell…
Read MoreYear: 2023
Energy Security Was The Most Important Topic In 2022
The Energy Intelligence 2023 outlook report sheds light on a very important sentiment that will guide the market this year: It’s not the energy transition or even the affordability of energy that is on the top of everyone’s mind. It’s the security of supply that trumps everything. The industry priority is energy security this year, and while that does not mean that decarbonization will be sidelined, it does mean that it’s not the year’s top priority. Even more shocking, based on the results of a Energy Intel’s survey is that…
Read MoreCPPA-G seeks FCA of Rs2.20/unit for Dec 2022
Central Power Purchasing Agency-Guaranteed (CPPA-G) has sought negative adjustment of Rs2.20 per unit in Discos’ tariffs for December 2022 under monthly Fuel Charges Adjustment (FCA), National Electric Power Regulator Authority (Nepra) will hold a public hearing on January 30, 2023 on CPPA-G’s request of adjustment in Discos’ tariffs. According to data submitted to Nepra, in December 2022, hydel generation was 1,720.43 GWh constituting 20.44 percent of total generation. Power generation from coal-fired power plants was 1,521 GWh in December 2022 which was 18.07 percent of total generation at a price…
Read MoreOGRA takes notice of Overcharing of the sale/purchase of LPG
Oil and Gas Regulatory Authority (OGRA) has taken serious notice of the complaints regarding overcharging of end consumer LPG Price. OGRA Enforcement Teams have been mobilized to take cognizance of the matter and to ensure sale of LPG at notified prices to provide relief to the end consumers and to initiate action against the violators under the applicable Rules/Laws.OGRA-Enforcement Teams have visited various LPG Plants recently in the vicinity of Lahore & Islamabad to check/ monitor LPG Prices and safety. During the visit, all LPG Plants were directed to ensure…
Read MoreMari Petroleum commences gas supply from SGPC to Sui Northern
Mari Petroleum Company Limited (MARI), one of Pakistan’s largest petroleum exploration and production companies, announced that it has initiated gas supply from Phase-II of Sachal Gas Processing Complex (SGPC), formerly known as GTH Gas Processing Facilities, on Friday. “We are pleased to announce that MARI has successfully completed the construction of SGPC Phase-II facilities to process low Btu gas from Goru-B reservoir of Mari Gas Field, Daharki, Sindh,” said the company in its notice to the Pakistan Stock Exchange (PSX). The company shared that the phased commissioning and performance testing…
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