Category: Highlights

ISLAMABAD: Power Division has handed over the entire documents of power Distribution Companies (Discos) to the Privatisation Commission (PC) meant to expedite sell-off process of those companies, well-informed sources told Business Recorder. The Discos employees are already protesting against the proposed privatisation of companies, fearing that they will lose jobs. On January 5, 2021, Privatisation Commission wrote a letter to Power Division in which the decision of the Cabinet Committee on Privatisation (CCoP) of January 4, 2021 was conveyed, wherein it was decided that Ministry of Privatisation will expedite privatisation/management…

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ISLAMABAD: The Ultimate Energy Services (Pvt) Ltd has signed an agreement with Energas Marketing (Pvt) Ltd for supply of imported LNG to the CNG stations in Sindh. The CNG industry has been facing severe gas loadshedding since a decade, which has worsened in the last two years. As a result, the CNG consumers have been deprived of their favourite and most-needed, economical and environmentally-friendly fuel. Energas Marketing (Pvt) Ltd was granted a marketing licence to import and market LNG in Pakistan. The company will also establish a LNG terminal. A…

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KARACHI: The Directorate General of Petroleum Concessions (DGPC) has provisionally awarded four new exploration blocks to Mari Petroleum Company Limited (MPCL) in the latest block bidding round, the company announced on Wednesday. MPCL has been awarded two blocks as the operator and two as the joint venture partner with other local companies. The blocks have been awarded after competitive bidding based on work units committed by different E&P companies, in the Block Bidding Round 2020 arranged by the government. MPCL will hold 39 percent working interest as the operator with…

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Only 36 percent of Russia’s recoverable crude oil reserves can turn a profit in the current market, Deputy Energy Minister Pavel Sorokin said in an article for Energy Policy magazine. Russia’s recoverable oil reserves stand at some 30 billion tons or 219.9 billion barrels. This means that the profitable portion comes in at about 79.16 billion barrels. This is still quite a bit of oil that can be profitable under current market conditions. However, Sorokin lists a number of technical, rather than purely economic, problems with the development of these…

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Islamabad, January 27,2021: Federal Minister for Energy Mr. Omar Ayub Khan and President of Islamic Development Bank (IsDB), Dr. Bandar Hajjar inaugurated the construction of the 113 kilometer electricity transmission lines from Pak-Afghan border to Nowshera under the South Asia Central Asia Regional Trade and Transmission Project (CASA-1000) in a virtual event. Federal Secretary Power Division, Mr. Ali Raza and senior officials of Power Division, representatives of development partners, UN agencies, & other key stakeholders also witnessed occasion. Speaking on the occasion, the Minister for Energy, appreciated the efforts of…

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