Month: January 2024

SSGC clarifies board issues

Admin
SSGC

KARACHI: The Sui Southern Gas Company Limited (SSGC) said the election process of its board of directors has been delayed several times due to various reasons at the Petroleum Division level. “Detailed correspondence has been shared between SSGC and Petroleum Division, seeking clarification and path forward in this regard. Response was also obtained from SECP, where needed and detailed exchanges are available, clarifying that there was no delay in the process from SSGC Board,” the utility said in a statement on Friday. “SSGC’s managing director and the board have had…

Read More

Oil association opposes govt’s decision to grant PSO sole diesel import rights

Admin
pso

KARACHI: A group of oil marketing companies is opposing a government decision to give Pakistan State Oil (PSO), the country’s largest fuel supplier, the sole right to import high-speed diesel (HSD). The move would create a monopoly for the state-owned PSO and hurt the competitiveness and innovation of the oil sector, the Oil Marketing Association of Pakistan (OMAP), which represents the emerging companies, said in a letter to the petroleum secretary. “The move to allow PSO the sole authority for importing HSD raises serious concerns about fair competition and market…

Read More

Mari Ghazij: MPCL announces successful drilling of another appraisal well

Admin
mari-petrolium

KARACHI: Mari Petroleum Company Limited (MPCL) has announced successful drilling of another appraisal well in Mari Ghazij formation in the Mari Development and Production Lease (D&PL), Sindh. As part of the appraisal plan for the Ghazij discovery in the Mari Development and Production Lease, MPCL has successfully drilled and tested the second appraisal well in the Ghazij formation, material information sent to Pakistan Stock Exchange on Friday said. The well was spudded in on December 20, 2023, and drilled down to a depth of 1,014 meters. The post-acid gas flow…

Read More

Dasu transmission line contracts: Ali pledges to conduct ‘fair inquiry’

Admin
power-sector

ISLAMABAD: Caretaker Minister for Power and Petroleum, Muhammad Ali, has reportedly given his pledge to the Turkish company SA-RA Energy that he would conduct a transparent inquiry into contracts of 765 kV Dasu transmission line, while acknowledging that there was collusion as procedure was not followed in this regard, well informed sources told Business Recorder. The World Bank has also conducted an inquiry into $ 300 million contract of 765 kV double circuit transmission line project on the complaint of Turkish firm, SA-RA Energy, whose team visited the site of the…

Read More

K-Electric gets 20-year licences for distribution, supplier of last resort

Admin
circular-debt-K-electric-ceo

ISLAMABAD: The National Electric Regula­tory Authority (Nepra) on Friday granted a non-exclusive distribution licence and a supplier-of-last-resort (SoLR) licence to K-Electric Ltd (KEL) both for 20 years, valid until Jan 18, 2044. The non-exclusive distribution licence to KEL means that smaller private power distribution companies with a licence from Nepra would be allowed into the power distribution and sale business, particularly in housing societies and colonies but their default or inability to ensure power supply to consumers would shift the rights, responsibilities and benefits of the power supply to KE…

Read More