Author: Admin

OGRA Steps in to Protect Refineries, Cancels HSD Cargoes for OMCs

Admin
OGRA

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has taken swift action to safeguard the country’s refineries by halting some oil marketing companies (OMCs) from importing High-Speed Diesel (HSD) due to an oversupply of the fuel. The regulator canceled diesel cargoes scheduled for Pakistan State Oil (PSO) and GO company for October and November, in response to warnings from refineries that excess HSD stocks could destabilize the country’s supply chain. An emergency meeting between OGRA, refineries, and OMCs led to the postponement of additional HSD imports, with further cancellations possible…

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Centre, Provinces Owe Rs2.56 Trillion to Power Distribution Companies

Admin
Your-Bill

ISLAMABAD: The federal and provincial governments collectively owe over Rs2.56 trillion in unpaid electricity bills to Distribution Companies (DISCOs) across Pakistan, according to official documents reviewed by The Express Tribune. The 12 DISCOs, which include major utilities like Lahore Electric Supply Company (Lesco), Islamabad Electric Supply Company (Iesco), and K-Electric, are struggling to recover payments. The federal government’s debt totals Rs47.81 billion, while provincial governments owe Rs1.51 trillion. The Azad Jammu and Kashmir government’s institutions have also accrued Rs56.77 billion in unpaid bills. Major defaulters include the Sindh government with…

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Govt Developing Formula to Reduce Power Rates: Petroleum Minister

Admin
Gas-Project

Reko Diq Investment Deal Near Completion$10bn Refinery Project Under ConsiderationISLAMABAD: The government is finalizing a new blended gas pricing mechanism aimed at reducing power costs by merging liquefied natural gas (LNG) pricing with wellhead and pipeline gas. This will ensure competitive rates across all consumer categories, as disclosed by Petroleum Minister Dr. Musadik Malik. Speaking to the media, Dr. Malik revealed that a major investment deal on the Reko Diq mining project is at an advanced stage. Additionally, the government is considering establishing a $10 billion greenfield refinery for petroleum…

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Historic Consortium Agreement Signed for Machike-Thalian-Taru Jabba White Oil Pipeline Project

Admin
Oil-Pipeline

In a significant development for Pakistan’s energy infrastructure, the signing ceremony of Consortium Agreement between the Stakeholders for Machike-Thallian-Tarujabba White Oil Pipeline Project has been held on September 4,2024 at SIFC Secretariat, PM Office. The ceremony was witnessed by Federal Minister for Petroleum Dr. Musadik Malik , DG Special Investment Facilitation Council (SIFC) Major General Asad Rehman and Chairman OGRA Masroor Khan. The heads of consortium entities i.e. MD Pakistan State Oil (PSO) Syed Muhammad Taha, DG Frontier Works Organization (FWO) Major General Abdul Sami, signed the historical Consortium Agreement.…

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Privatisation Crucial for Reforming DISCOs: Experts Advocate KE Model for Better Governance

Admin
Power-sector

ISLAMABAD: Energy experts are calling for the privatisation of Pakistan’s electricity distribution companies (DISCOs) as a vital step toward their reform. During a consultation organized by the Parliamentary Forum on Energy and Economy, stakeholders discussed the future of DISCOs, emphasizing the need for improved governance and efficiency. National Assembly Speaker Ayaz Sadiq highlighted the challenges posed by high power tariffs, noting that previous issues with loadshedding have hindered investment and exacerbated inefficiencies in the energy sector. Shaheera Tahir from PRIED recommended using K-Electric (KE) as a blueprint to enhance accessibility…

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