Category: Recent Post

The National Electric Power Regulatory Authority (Nepra) on Friday allowed K-Electric to charge an additional fuel cost adjustment (FCA) of average 26 paisa and 10 paisa per unit in June and July, respectively from its consumers to add about Rs500 million to its revenue. The regulator has worked out the increase in rates on the basis of seven months (June to December 2020) of FCA and adjusting monthly increases and reductions in a manner that minimize the price shock to consumers. The regulator had held the public hearing for the…

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The State Bank of Pakistan (SBP) has recommended to the government to eliminate gas subsidies to ward off formation of circular debt and encourage greater participation of the private sector in LNG trade to develop an efficient LNG market to cope with the growing gas shortages in the country. In a special section on LNG sector inserted in its quarterly report on the state of the economy, the central bank pointed out that the procedural bottlenecks causing delay at the import, transmission and distribution stages not only lead to recurring…

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The Oil Companies Advisory Council (OCAC) has rung alarm bells telling the government that the depleted condition of KPT oil piers can disrupt the import supply chain of petroleum products, especially Crude Oil and Mogas (petrol) resulting in potential dry out in the country. In a letter sent on May 25, 2021, to Federal Energy Minister Hammad Azhar and Petroleum Division Secretary Dr Arshad Mehmood, a copy of which is exclusively available to The News, OCAC on behalf of Downstream Petroleum Companies (Refineries and Oil Marketing Companies) sought the immediate…

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The efforts made by state-run gas companies to maintain their monopoly over the liquefied natural gas (LNG) market have put an additional burden of $99 million on gas consumers for the idle terminal capacity. The issue seems to be more serious compared to the capacity payments made to independent power producers (IPPs). Though the private sector has been ready to utilise the idle terminal capacity for the past five years, the state-owned gas companies want to keep control of the LNG market. State companies have been allocated a capacity of…

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SINGAPORE: Six companies have placed the lowest offers for a buy tender by Pakistan LNG for nine liquefied natural gas (LNG) cargoes to be delivered in July and August, according to a document posted on the company website. Vitol placed the lowest offer for three cargoes, while Qatar Petroleum Trading placed the lowest offer for two cargoes, according to the document. Trafigura, ENI, BP Singapore and DXT Commodities placed the lowest offers for the other four cargoes. The lowest prices offered ranged from $10.2937 per million British thermal units (mmBtu)…

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