Category: Recent Post

ISLAMABAD: A deadlock continues to persist between OGRA and the state-owned entity Pakistan LNG Limited (PLL) on increasing the LNG margin up to 3.75 percent as the regulator says that the revised margin will cause more increase in the LNG price for consumers in Pakistan. And more importantly, OGRA also contends that it cannot take decisions on such petitions without persuasive justification. The Pakistan LNG Limited (PLL) is seeking a raise in the LNG margin up to 3.75 percent from the existing 2.5 from June 1, 2018 as was approved…

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With the Pakistan Tehreek-e-Insaf (PTI) government set to open the liquefied natural gas (LNG) market for the private sector to reduce financial risk, a Petroleum Division official has underlined the need for a long-term LNG deal. The country has already a long-term LNG deal with Qatar. Consumers are forced to consume expensive LNG due to the involvement of government entities in the entire chain. The private sector has been struggling for several years to import LNG but it has been denied the opportunity due to monopoly of state-run companies despite…

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ISLAMABAD: With nearly 2.8 million gas connections pending on the network of Sui Northern Gas Pipelines Limited (SNGPL), the cabinet is likely to give priority to gas connection requests for politically motivated schemes. Already facing a gas crisis, SNGPL had to divert expensive liquefied natural gas (LNG) to domestic consumers in winter in the wake of government directives to overcome the shortage. Now, the gas utility is paying the price as it has to recover Rs78 billion for the LNG it diverted in the past two winter seasons. The company estimated that…

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ISLAMABAD: After oil prices, consumers are set to face another setback as the Oil and Gas Regulatory Authority (Ogra) has increased prices of liquefied petroleum gas (LPG) by Rs10 per kilogram. The price of domestic LPG cylinder has gone up by Rs122 and commercial cylinder by Rs471 following the hike in LPG prices. Domestic cylinder will now be available at Rs1,863 and commercial cylinder at Rs7,168. Ogra hiked LPG price by Rs8,870 per ton for LPG producer companies. The LPG price in the international market jumped to $574 per ton…

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KARACHI: Pakistan’s total oil sales rose by 11 per cent to 11.258 million tonnes during the first seven months of FY21 owing to a massive jump in demand for furnace oil (FO), high-speed diesel (HSD) and petrol. A jump of 37pc was recorded in FO sales to 1.916m tonnes during July-January period of 2020-21 followed by 12pc and 6pc in HSD and petrol, respectively, to 4.288m tonnes and 4.740m tonnes. Syed Fawad Bashir of Topline Securities attributed rising furnace oil sales to burgeoning demand from the power sector due to…

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