Year: 2023

The Nord Stream Pipeline Could Be Repaired Within A Year

Admin

The Nord Stream pipeline can be repaired within a year, but it’s unclear whether Germany would want to receive Russian natural gas at all, said Klaus-Dieter Maubach, the outgoing CEO at German energy giant Uniper, which was Russia’s top gas customer before Moscow cut off supply via Nord Stream. “The first question that needs answering: what’s the political will on a European level and in Berlin to bring Russian gas to Germany?” Maubach said at the annual Handelsblatt Energy summit on Tuesday, as carried by Reuters. Last summer, the German…

Read More

Aramco CEO: Low Spare Capacity Should Worry World

Admin

Saudi Aramco CEO Amin Nasser has sent a stark warning about the lack of spare oil production capacity, telling the Energy Intelligence Forum that an uptick in demand could cause a supply crunch and price volatility similar to that seen in the gas market. With benchmark crude prices falling by around $30 per barrel since June, Nasser said the market was focusing on short-term economics rather than supply fundamentals. But with only around 1.5 million barrels per day of global spare capacity, Nasser argued that if Chinese demand picks up,…

Read More

Govt revises decision to promote solar projects

Admin

The government on Tuesday amended a policy in favour of Fauji Foundation to facilitate the acquisition of a stake in a power plant while revising its earlier decision to promote solar projects. The decision was taken by Finance Minister Ishaq Dar-led Economic Coordination Committee (ECC) of the cabinet. The ECC allowed equity investment of $4.9 million by Fauji Foundation for the acquisition of 2.75 million shares (18.64% stake) in Daharki Power Holdings Limited. According to the Ministry of Finance, the ECC also waived and exempted Fauji Foundation from the policy…

Read More

Looming fuel shortages

Admin
fuel

With SBP reserves at approximately $4 billion, time is not far when there would be widespread shortages of essentials, if there are no inflows of dollars with IMF on board. On top of the list is energy products – especially petroleum. The country has stocks of around 30 days of diesel (HSD) and 18 days of petrol. Then there are plans for imports by refineries and OMCs – the L/Cs are opened for another 15-20 days. This would mean the country is covered by 4-5 weeks of petrol and 6-7…

Read More

Gas supply from MPCL: FKPCL asked to obtain PPIB’s consent

Admin

 Petroleum Division has asked M/s Fauji Kabirwala Power Company Limited (FKPCL) to get consent of PPIB for supply of gas to its plant from Mari Petroleum Company Limited (MPCL). The decision was taken under the chairmanship of the Secretary, Petroleum Division, to deliberate the issues related to supply/ allocation of gas/RLNG to FKPCL’s power plant. The meeting was attended by the representatives of Power Division, FKPCL, CPPA, PPIB, MPCL and SNGPL through video link) and officials of Petroleum Division. Director General (Gas) gave the background of the issues related to…

Read More