Author: Admin

Pakistan Diverts Fourth ENI LNG Cargo Amid Reduced RLNG Power Demand

Admin
LNG

ISLAMABAD: The government has successfully diverted a fourth LNG cargo, scheduled for delivery in May 2025 from Italian energy firm ENI, to the international market, according to a senior official at the Energy Ministry. Efforts are also underway to reroute a fifth cargo due in June. This follows earlier diversions of ENI-supplied cargoes originally planned for February, March, and April. The move stems from a request by Sui Northern Gas Pipelines Limited (SNGPL), which in a January 21 letter to the federal government sought to divert 11 LNG cargoes throughout…

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OGRA Raises RLNG Transmission Rates for May Amid Rising Global Costs

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OGRA

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has increased the transmission rates for Regasified Liquefied Natural Gas (RLNG) for May 2025, following federal government policy guidelines. The hike reflects a rise of up to 5.44% compared to April, driven primarily by an increase in the Delivered Ex-Ship (DES) price. According to OGRA, while the RLNG transmission rate for Sui Southern Gas Company Limited (SSGCL) has risen from $10.6906 to $11.2718 per mmbtu (an increase of $0.5812), the distribution price has slightly decreased from $12.7255 to $12.5910 per mmbtu due…

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OPEC Lowers Global Oil Demand Growth Forecast Amid Trade Tensions, Rising Output

Admin
New-OPEC

LONDON: The Organization of the Petroleum Exporting Countries (OPEC) has revised its global oil demand growth forecast downward for 2025 and 2026, marking the first cut since December. The adjustment reflects weaker-than-expected data from the first quarter and trade tensions driven by new US tariffs. In its monthly report released Monday, OPEC projected global oil demand to rise by 1.30 million barrels per day (bpd) in 2025 and 1.28 million bpd in 2026—both forecasts lowered by 150,000 bpd compared to last month. The report cited uncertainty from US President Donald…

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IMF Assured: Power and Gas Subsidies to Be Targeted Through BISP Framework

Admin
New-IMF

ISLAMABAD: The government has assured the International Monetary Fund (IMF) that electricity and gas subsidies will be aligned with the Benazir Income Support Programme (BISP) to ensure that only low-income households benefit from the relief, sources in the Finance Ministry revealed. The move is part of broader energy sector reforms aimed at reducing inefficient consumption, curbing losses, and supporting Pakistan’s climate mitigation goals. The current subsidy structure—characterized by blanket tariff differentials and cross-subsidies—has led to overconsumption and has often benefited wealthier consumers, undermining the sector’s financial viability. By January 2027,…

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