Energy damage

In a press conference, Special Adviser to the Prime Minister Nadeem Babar attempted to answer some of the questions on energy purchase raised by Geo’s Shahzeb Khanzada in his show – all the while denying he was referring to the show at all. What the presser led to, though, were even more unanswered questions – leading us to wonder why the prime minister and the people of Pakistan are being provided misinformation on so many issues and why the national exchequer lost an amount of $122 million, an amount that…

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Police Bust Crude Oil Theft Gang, Eight Arrested

KOHAT, (APP – UrduPoint / Pakistan Point News – 26th Nov, 2020 ) :Police on Thursday busted eight-member inter-provincial gang involved in theft of crude oil from Oil & Gas Development Company Limited (OGDCL) pipeline in Shakardara area. Police also seized three vehicles and several drums and other equipments used in stealing crude oil. Police said that thieves have drilled main supply line from OGDCL oil field causing loss of millions of rupees to the national exchequer by stealing crude oil. Deputy Superintendent of Police (DSP) Lachi Circle, Nazir Hussain…

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Stakeholders oppose SNGPL’s demand for 123pc hike in gas rate

ISLAMABAD: Despite facing gas shortfalls, the Sui Northern Gas Pipelines Ltd (SNGPL) on Thursday demanded 123 per cent increase in its gas rate, 100pc increase in meter rent and 700,000 fresh domestic connections, which was strongly opposed by the stakeholders including textile industry and transport sector. At a public hearing presided over by Oil & Gas Regulatory Authority (Ogra) Acting Chairman Noorul Haque, the stakeholders contended that there was no justification for network expansion when the gas utility was unable to meet the requirements of existing consumers. They contended that…

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PSO floats tenders to accumulate oil supplies

KARACHI: State-owned Pakistan State Oil (PSO) has floated several tenders to procure petroleum products to ensure ample availability of fuel in the New Year, it was learnt on Thursday. PSO has invited bids for supply of three motor gasoline cargos of 45,000 tons each in January 2021, along with one standard size cargo each of high sulphur fuel oil and low sulphur fuel oil. PSO would also receive one cargo of jet fuel in January. Market sources said PSO’s stock position was at a comfortable level and there was no…

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UK oil and gas sector confidence plunges to record lows

Reduced activity levels, project cancellations and workforce cuts as a result of the coronavirus pandemic have slashed business confidence across the UK’s oil and gas sector, according to an industry report. The 32nd Oil and Gas survey, conducted by Aberdeen & Grampian Chamber of Commerce in partnership with the Fraser of Allander Institute and KPMG UK, asked firms about the initial impact of CV19, how they expect activity to recover and how recent events have influenced industry views on future facing issues like the energy transition and the UK’s exit…

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MENA’s renewables investment to hit $97bln in five years

Yellow Door Energy currently has over 110 megawatts of solar assets operating and under construction in the UAE, Jordan, and Pakistan, with recent expansions into Saudi Arabia, Bahrain, and Oman. Yellow Door Energy is one of Apicorp’s investee companies and in 2019 the corporation and a consortium of international and regional banks invested $65 million in Yellow Door Energy to scale up investments in solar energy and efficiency solutions in emerging markets. “For years, Apicorp has been a trusted financial partner in the region’s energy sector, and we are delighted…

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Illegal mining in full-swing in Charsadda despite ban

CHARSADDA: Illegal mining of precious mines and minerals is continuing despite the ban for the last two years in the district. It is causing huge losses to the provincial exchequer every year. Sources said that the Khyber Pakhtunkhwa government was losing Rs157.13 million per annum due to the ban on mining and flawed policies to boost the sector in Charsadda. They said that there were substantial mine and mineral reserves on 13,000 acres of land in Charsadda, the native district of Special Assistant to the Chief Minister for Mines and…

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Govt suggests using telecom model

Policymakers have expressed the desire that gas companies should follow the model of telecom sector in an effort to operate in a competitive market, improve efficiency and reduce losses. At present, the two public gas utilities are posting high losses, which have worried policymakers, who are considering splitting the companies to control revenue bleeding. Losses of the gas utilities range from 11-17%. According to the Petroleum Division, the monopoly of the gas companies is causing an annual loss of Rs50 billion. These companies are in deep financial trouble because of…

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Aaj Shahzeb Khanzada Key Saath’: Gas crisis may create political problems for PM Imran Khan

KARACHI: As a follow-up of Tuesday’s report in Aaj Shahzeb Khanzada Key Saath regarding loss of Rs122 billion to national kitty and misleading the prime minister which not only have led to severe fuel related crises but also created serious political problems for the prime minister, the SAPM, Nadeem Babar, in his Wednesday’s press conference not only failed to give concrete replies to the specific allegations backed with documents but sadly insisted on his oft repeated stances. In the Wednesday’s show, the programme’s host Shahzeb Khanzada, said we are not…

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Deeper Gas Crisis on the Cards

ISLAMABAD: With the winter season aggravating every day, the country is heading towards a severe gas crisis as 100pc state owned companies — Pakistan LNG Terminal Limited (PLTL) and Pakistan LNG Limited (PLL) have refused to finalize the Inter-User Agreement (IUA) making the private LNG imports impossible knowing the fact that the private sector alone can solve the gas crisis and solve it fast by utilizing the unused capacity of the government and 150 mmcfd additional capacity of PGPCL terminal. More importantly, PLTL has rather sought a mammoth amount of…

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