Category: Highlights

As hydel generation from Tarbela dam has dropped alarmingly due to low water inflows, the consumption of furnace oil by power plants has reached to a peak level that will lead to higher electricity rates on account of fuel adjustment for the month of July. The price of furnace oil had hiked by Rs17,000 per ton following growing demand in the local market in the wake of fluctuation in global oil prices. The cost of furnace oil amounted to Rs75,000 per ton before tax,which has jumped to Rs92,000 per ton…

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Special Assistant to Prime Minister (SAPM) on Power and Petroleum Tabish Gauhar has vowed to ensure an inexpensive and reliable power generation and distribution system under the newly approved National Electricity Policy (NEP) 2021. “Seamless power supply at an affordable rate with efficient distribution is one of the top priorities of the government,” he said while speaking at the inaugural consultative session of the National Electricity Plan 2021 on Monday. He said that the approval of NEP by the Council of Common Interests (CCI) was an important development. The NEP provided goals,…

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The Petroleum Division, during the current fiscal year, would initiate a new project to compile the data of available minerals for facilitation of investors and future projects’ planning in the country. The two-year project, titled National Minerals Data Centre (NMDC), is a joint venture of Petroleum and Planning Divisions that would be carried out at a total cost of Rs 295 million in consultation with all Provincial Mines & Minerals Departments including of Gilgit-Baltistan, Azad Jammu and Kashmir and Geological Survey of Pakistan. “Pakistan has world-class minerals’ resource potential but…

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Spot prices for liquefied natural gas (LNG) in Asia fell this week as demand from end-users was hampered and suppliers offered more cargoes. The average LNG price for August delivery into Northeast Asia LNG-AS was estimated at about $12.55 per metric million British thermal units (mmBtu), down $1.45 from the previous week, trade sources said. The price for a cargo delivered in September is estimated to be about $12.75 per mmBtu, they added. “The market was overheated and there was a lot of optimisation but no real end-user buying… so…

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The Petroleum Division has ‘technically’ completed 90 per cent work on dualization of the White Oil Pipeline (WOP), from Karachi to Mehmood Kot section, for smooth supply of petrol and diesel to Oil Marketing Companies (OMCs) and reducing reliance on the traditional mode of transportation through tankers. “Currently 90% project has been technically completed, while testing and commissioning is planned from September 2021,” a senior official privy to petroleum sector developments told APP. The pipeline, he said, that was previously used to move only diesel from Karachi to Mehmood Kot…

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