Month: October 2024

Aramco Launches First Branded Retail Station in Pakistan

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Branded Retail Station in Pakistan

October 29, 2024 Lahore, Pakistan – Aramco, the world’s leading integrated energy and chemicals company, has inaugurated its first fuel retail station in Pakistan. This milestone follows Aramco’s acquisition of a 40% stake in Gas & Oil Pakistan (GO), a major downstream sector player with over 1,200 nationwide fuel retail stations. Key Highlights Yasser M. Mufti, Aramco’s Executive Vice President of Products & Customers, emphasized: “This launch marks another milestone in Aramco’s downstream growth story, leveraging our global refinery systems for reliable supplies and introducing world-class retail offerings.” Khalid Riaz,…

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Households Face Major Gas Price Hike Amid Rising RLNG Costs

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Gas-Price

ISLAMABAD: Domestic gas consumers in Pakistan are set to face a significant financial impact as Sui Northern Gas Pipeline Limited (SNGPL) seeks an increase in gas prices by Rs64.16 per MMBTU for FY2024-25. In its recent petition to the Oil and Gas Regulatory Authority (OGRA), SNGPL requested a revised prescribed tariff of Rs1,711.73 per MMBTU, citing an estimated revenue shortfall of Rs20.58 billion, including Rs489 million allocated to the LPG Air Mix project. A substantial portion of this price hike—totaling Rs163.06 billion—comes from the cost of diverted imported RLNG, following…

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Saudi Arabia to Finalize $1.2 Billion Oil Facility for Pakistan by December

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Pak-Saudi

ISLAMABAD: Following confirmation to the IMF regarding an oil facility, Saudi Arabia is set to send a high-level delegation to Pakistan in December 2024 to finalize details for a $1.2 billion Saudi Oil Facility (SOF). This facility will support Pakistan’s bid for a $7 billion Extended Fund Facility (EFF) from the IMF, with Pakistan also requesting an additional $1 billion for climate finance. According to top officials, Pakistan may propose a one-year deferred payment plan, involving $100 million monthly disbursements, with repayments starting in the following calendar year. The SOF…

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CPPA-G Urges Pakistan Railways to Boost Coal Freight for Sahiwal Power Plant

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Sahiwal-Power

ISLAMABAD: The Central Power Purchasing Agency-Guaranteed (CPPA-G) has requested Pakistan Railways to increase the number of freight trains to secure a steady supply of imported coal for the 1,320 MW Sahiwal coal-fired power plant, sources reported. CPPA-G referenced previous communications highlighting a critical coal shortage reported by Huaneng Shandong Ruyi (HSR), the plant’s operator. Transportation delays by Pakistan Railways have affected the coal supply chain, risking potential operational disruptions. Under Section 5.14 of the Power Purchase Agreement (PPA) with HSR, signed on July 11, 2015, the company must maintain a…

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NEPRA Rejects Proposed Legal Amendments for Economic Load Management

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Nepra-tariff

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has reportedly dismissed proposed amendments to the NEPRA Act aimed at implementing economic load management, asserting that these changes would contravene existing laws and consumer rights. Sources indicate that the Power Division had submitted a summary seeking specific modifications to the NEPRA Act, including: Defining “load shedding” within the Act as the planned reduction of consumer load due to technical, commercial, or economic factors, with NEPRA’s approval.Allowing the federal government to issue policy guidelines on load shedding due to economic constraints, with…

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