Author: Admin

Cabinet Advocates Uniform Gas Prices to Stabilize Fertiliser Market

Admin
oil price

ISLAMABAD: The federal cabinet has proposed introducing uniform gas prices for fertiliser manufacturers to eliminate alleged favoritism and market distortions. The move aims to ensure a level playing field as discrepancies in current gas tariffs have led to uneven profit margins among manufacturers. At present, some urea manufacturers pay lower gas tariffs while others incur higher costs. Despite this, all companies sell fertilisers at uniform prices to farmers, allowing those with lower tariffs to generate higher profits. During a recent cabinet meeting, members emphasized the need for equitable gas tariffs…

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Pakistan joins fossil-fuel non-proliferation coalition

Admin
fossil fuel

ISLAMABAD: Pakistan has joined a coalition of climate-vulnerable countries advocating for a global fossil-fuel non-proliferation treaty, which seeks an equitable transition away from coal, oil, and gas. The proposed treaty, designed to complement the Paris Agreement, emphasises the need for financial and technological support to ensure fair energy transitions for developing nations. Ranked among the top ten countries most vulnerable to the devastating impacts of climate change, Pakistan is the first nation in South Asia to engage with this initiative, and aims to address its severe climate challenges, such as…

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Middle East share of India’s Nov oil imports at 9-mth high; Russia down

Admin
crude oil

NEW DELHI: India’s November crude imports showed Middle Eastern oil at a 9-month high while Russia accounted for its smallest share in three quarters, ship tracking data obtained from sources showed. Refiners in India have been gorging on cheaper Russian oil despite problems posed by sanctions aimed at reducing Moscow’s oil revenue to fund its war in Ukraine. The world’s third biggest oil importer and consumer in November shipped in 13% less Russia oil compared with October at 1.52 million barrels per day (bpd), about 32% of India’s overall intake,…

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SSGC Ensures Uninterrupted Gas Supply in Franchise Areas Amid Challenges

Admin
SSGC

KARACHI: Despite a significant reduction in indigenous gas supplies, the Sui Southern Gas Company (SSGC) claims there is no gas load-shedding in its franchise areas, particularly for domestic consumers, according to a press release issued on Sunday. The company highlighted a 40% decline in gas supplies since the 2017-18 fiscal year, with a cumulative depletion of 465 mmcfd over the past seven years. Under the Economic Coordination Committee’s (ECC) approved load management plan, domestic, commercial, and general industrial sectors remain the top priority for gas allocation. While no formal load-shedding…

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Power Ministry Confirms Circular Debt Target with IMF on Track

Admin
power-solar

ISLAMABAD: The Ministry of Power reaffirmed on Sunday that the circular debt targets agreed upon with the International Monetary Fund (IMF) are well within limits, with the December 2024 goal firmly on track. In a statement, the Power Division clarified that its performance aligns with quarterly targets for circular debt management. “The agreed target with the IMF ensures circular debt remains within specific thresholds during each quarter, and the power sector is operating comfortably within these limits,” the ministry said. Addressing recent reports, a Power Division spokesperson emphasized that routine…

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