Category: Highlights

Regarding some reports in a section of media on lesser RLNG supply to the Power Plants in August, a spokesperson of the Ministry of Energy has clarified that Minister for Energy, Muhammad Hammad Azhar has already issued directions to SNGPL to provide them maximum gas supplies in order to ensure seamless power supply during summer months. Accordingly SNGPL has already increased gas supplies to 750mmcfd from 685mmcfd, he added. The spokesperson said that SNGPL was also making efforts to provide maximum RLNG to the Power Sector. The spokesperson said that…

Read More

The federal capital is abuzz with speculation that Special Assistant to the Prime Minister on Power and Petroleum Tabish Gauhar will be shown the door for allegedly failing to deal with the recent energy crisis which earned a bad name for the government, well informed sources told Business Recorder. The decision makers, sources said, have already begun contacting some experienced energy sector personnel to offer them the position of SAPM. Sources said Tabish Gauhar is on the defensive these days, especially after his negative remarks about the CPEC projects in…

Read More

Oil and petroleum consumption witnessed a sharp recovery in FY21 after a dip in pandemic hit FY20. This recovery is reflected in resurgence of petroleum sales by the downstream oil marketing segment, which in turn is a representation of improved economic and industrial activity. The recent data from OCAC shows that overall petroleum sales by the OMCs in FY21 stood higher by 18 percent to 19.5 million tons as compared to 12 percent year-on-year decline in FY20. Surprisingly – or ironically – the growth in overall petroleum sales was led…

Read More

US oil may retest a resistance at $76.14 per barrel, a break above which could lead to a gain towards $76.83-$77.29 range. The contract is riding on a wave C, which may extend to $77.29, as it briefly travelled above $74.99, its 138.2% projection level. Another projection analysis on the uptrend from $69.77 suggests a similar target of $76.83. The correction triggered by the resistance is regarded as a pullback towards $74.14. The pullback is over. A break below $74.14 may cause a fall into $72.70-$73.57 range. On the daily…

Read More

Yet again power load-shedding and gas shortage in the country. This time it is due to drydocking of Engro’s liquefied natural gas (LNG) terminal. Sceptics argue that better planning and coordination and timely decisions could have prevented or at least eased the problem. Engro will be able to replace its Floating Storage and Regasification Unit (FSRU) by a larger unit of the capacity of 173,400 M3 (960 million cubic feet per day – mmcfd). It may be noted that the old FSRU (Exquisite) was of a volume of 150,000 M3…

Read More