Year: 2023

Govt to address refineries’ concerns over upgradation agreements

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oil-gas.

KARACHI: The government is finalising a proposal to address the concerns of four oil refineries that have not signed upgradation agreements with the energy regulator, sources told The News on Monday. The refineries have raised issues over taxation, arbitration, force majeure and import incentives, which they say are not in line with the Brownfield Refinery Policy announced in August, the sources said. “A summary is being finalised for the consideration of the Cabinet Committee on Energy (CCoE) to address the concerns of the refineries,” a source said. Only one refinery,…

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Fuel cost adjustment of Rs3.5 more per unit to further inflate bills

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Petroleum-prices

ISLAMABAD: The Cen­tral Power Purchasing Agency (CPPA) on Mon­day sought a massive Rs3.55 per unit as fuel cost adjustment (FCA) for ex-Wapda distribution comp­anies (Discos) to raise another Rs33bn from consumers in Dece­mber, des­pite a healthy 76 per cent ele­ctricity generation from cheaper domestic fuels. This comes on top of about 26pc increase in the annual base tariff and around 18pc hike under the currently implemented quarterly tariff adjustment (QTA). This means that consumers would benefit little from low consumption in December, as they would be charged such a big…

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PPL-operated joint venture discovers gas & condensate in Sindh

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ppl

Karachi, November 20, 2023: Pakistan Petroleum Limited, operator of Shah Bandar Block (2467-16) (63 percent working interest (WI)) along with joint venture partners Mari Petroleum Company Limited (32 percent WI), Sindh Energy Holding Company Limited and Government Holdings (Private) Limited (2.5 percent WI each) has made a gas and condensate discovery at exploration well Jhim East X-1 in District Sujawal, Sindh. This is the second discovery in Shah Bandar Block. Jhim East X-1 was spud on October 8, 2023 and drilled to a depth of 2,545 m to test the…

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Navigating Pakistan’s Economic Landscape: Elections, Economic Trends, and the Path to Stability”

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pakistan-economy

Introduction: As Pakistan gears up for general elections scheduled for February 8, there are signs of optimism regarding the resolution of the country’s economic and political challenges. The announcement of a firm election date, following consultations between the Election Commission of Pakistan and the president, has put an end to speculation and controversy. Despite concerns raised by major political parties about the fairness of the upcoming elections, the focus is shifting towards forging alliances and preparing for the crucial polls. Political Dynamics: The political scenario is marked by the imprisonment…

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