Month: July 2024

Government Denies Gas Consumers Tariff Relief

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OGRA

OGRA Notifies New Tariff of Rs3,000 per MMBTU, Up from Rs2,750 ISLAMABAD: Gas consumers across Pakistan will not receive any tariff relief in the new fiscal year as the Pakistan Muslim League-Nawaz (PML-N) government declined to implement a cut proposed by the Oil and Gas Regulatory Authority (OGRA). Instead, OGRA announced an increase in liquefied petroleum gas (LPG) prices from July 1, 2024. According to the notification, the domestic LPG cylinder price has risen by Rs1.43 per kilogramme. OGRA had initially recommended a reduction in gas prices by up to…

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OIL AND GAS REGULATORY AUTHORITY

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LPG-plant

Islamabad, July 01, 2024: The Oil and Gas Regulatory Authority (OGRA) has notified the maximum Price of LPG, effective July 01 2024, as under; 2.  The LPG price Notification for the month of July 2024 is readily available at OGRA website www.ogra.org.pk. 3. The LPG producer price is linked with Saudi Aramco-CP and US$ dollar exchange rate. As compared to previous month Saudi Aramco-CP has remained unchanged. The average Dollar exchange rate has gone up by 0.06% resulting to increase in LPG consumer price by Rs.1.43/11.8 kg cylinder (0.05%). The…

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OGDCL Successfully Optimizes Production at Nashpa-4 Well in Karak, KP

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ogdcl

ISLAMABAD, July 01, 2024: Oil and Gas Development Company Limited (OGDCL) on Monday announced the successful revitalization of the Nashpa-4 well, situated within the Nashpa Development and Production Lease (D&PL) in Karak, Khyber Pakhtunkhwa province.OGDCL thoroughly re-evaluated the well for the potential of the upper zone of the Lockhart formation and achieved a significant increase in the well’s production capacity. The Nashpa-4 well is now producing an additional 330 barrels per day (BBL/day) of oil and 7.7 million standard cubic feet per day (MMSCF/day) of gas at a wellhead flowing…

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Pakistan Petroleum Dealers Announce Nationwide Strike Over Advance Tax

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PPDA-Strike

KARACHI: The Pakistan Petroleum Dealers Association (PPDA) has announced a nationwide strike on July 5 in protest against the government’s imposition of a 0.5% advance turnover tax, ARY News reported. PPDA Chairman Abdul Sami Khan stated that while talks with the government are scheduled for Monday in Islamabad, failure to reach an agreement will result in the closure of petrol pumps across Pakistan. Khan expressed grave concerns about the advance turnover tax, warning that the strike might extend beyond a single day if necessary. He urged the government to immediately…

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Illegal Energization of Feeders: PESCO Alerts Federal Government on Unregistered FIRs

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power-sector

ISLAMABAD: Peshawar Electric Supply Company (PESCO) has alerted the federal government about the ongoing issue of unregistered FIRs against Members of National Assembly (MNAs) and Members of Provincial Assembly (MPAs) involved in the illegal energization of feeders, informed sources told Business Recorder. PESCO cautioned that the simultaneous activation of all high-loss heavy-load feeders on the same power transformers is technically impractical and could lead to system collapse. This would result in prolonged outages, severely impacting compliant consumers. PESCO detailed incidents beginning on June 18, 2024, when unauthorized activities led to…

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