Category: Highlights

Islamabad, January 27, 2021: PLL issued a tender (PLL/IMP/LNGT30) for 3 spot cargoes for March on 16 December 2020 and opened the bids on 15 January 2021 with bid opening to delivery ranging from 53 to 66 days. It received multiple bids for all cargoes but decided not to award considering the rapidly changing supply and demand position. PLL issued an urgent tender (PLL/IMP/LNGT34) for similar delivery windows on 21 January 2021 with an average of 44 to 57 days from bid opening to delivery. The shorter lead time tender…

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ISLAMABAD: The federal cabinet’s Economic Coordination Committee (ECC) is likely to approve the allocation of around 22 million cubic feet per day (mmcfd) gas from three different gas fields of Sujawal block to the Sui Southern Gas Company Ltd (SSGCL). According to sources, the Petroleum Division has request the committee to approve the allocation of up to 15mmcfd gas from Sujawal-1, up to 3mmcfd has from Sujawal-X-1 and up to 4mmcfd gas from Aqeeq-1 to SSGCL. It may be noted that Mari Petroleum Company Ltd (MPCL) had made discoveries (Sujjal-1, Sujawal…

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Pakistan LNG received lowest offers from Eni and Qatar Petroleum for three shipments in March sought in latest tender, according to traders with knowledge of the tender.

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ISLAMABAD: The World Bank (WB) is preparing a new Country Partnership Framework (CPF) for the next five years from fiscal year 2022 to 2026 with possible portfolio of $10 to $12 billion for different sectors of economy of Pakistan. The Pakistani authorities are expecting that the World Bank Group will extend lending of around $12 billion for five years period under the CPF. “Although, the WBG has not officially communicated the exact size of portfolio but it should be around $12 billion,” a top official of the PTI led government…

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ISLAMABAD: The Federal Government and Karachi Electric (KE) teams are said to have failed to evolve a consensus on course of action to resolve receivables/ payables dispute, well-informed sources in Power Division told Business Recorder. Power Division summoned the KE top brass to convey the Prime Minister’s message to them that no further delay will be accepted in resolution of issues, which are hindering the sale-off of 66.4 per cent stake of M/s Abraaj to Chinese company, M/s Shanghai Electric Power (SEP). The dispute between the KE and the government…

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