Category: Shortcode

PARCO Board Approval Key to Finalize Refinery Upgrade Accord

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Parco-board

The Oil & Gas Regulatory Authority (Ogra) is accelerating the finalization of upgrade agreements with refineries under the Brownfield Refinery Policy, following Prime Minister Shehbaz Sharif’s directive for a signing ceremony. Four refineries are close to completing their agreements, while Pak Arab Refinery Limited (PARCO) awaits board approval before proceeding with the draft submission and final signing. This update was shared during a recent Ogra meeting, which also saw Cnergyico committing to submit its draft agreement shortly. During the meeting, PARCO representatives indicated that they are taking the matter to…

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SNGPL Seeks Significant Gas Price Hike, Faces Regulatory Scrutiny

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gas-project

Sui Northern Gas Pipelines Limited (SNGPL) has submitted a request to the Oil and Gas Regulatory Authority (Ogra) for a substantial increase in gas prices, as reported by Geo News on Monday. The company has proposed a 147% hike in gas prices, aiming to increase the average gas price to Rs4,446.89 per metric million British thermal unit (mmbtu), with an increase of Rs2,646.18 per mmbtu. This move is expected to add more pressure on the already inflation-burdened public. SNGPL, serving over 7.22 million consumers in North Central Pakistan, primarily in…

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SSGC Warns of Financial Crisis if Gas Tariff Hike Delayed

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Gas-tariff

The management of Sui Southern Gas Company (SSGC) has issued a stark warning, stating that the company faces financial peril if gas prices are not increased promptly. During a public hearing conducted by the Oil and Gas Regulatory Authority (Ogra) on Monday, SSGC requested a price hike of Rs274.40 per million British thermal units (mmBtu) effective from July 1, 2024, to meet its revenue target of Rs359 billion. The company emphasized the challenging situation it faces, paying for gas purchases in dollars but selling to consumers in rupees, leading to…

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Methane Emissions: A Significant Concern in Climate Talks

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Climate-Talks

PARIS: While climate discussions often focus on reducing carbon dioxide (CO2), the attention will now shift to methane emissions, a potent greenhouse gas, at a global forum in Geneva this week. Methane, though short-lived, plays a crucial role in heating the planet and is a key target for countries aiming to quickly reduce emissions and mitigate climate change. The leakage of methane from oil and gas projects is a major concern, with emissions from the fossil fuel industry rising for three consecutive years and reaching near record highs in 2023,…

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Electricity Consumers Face Rs35 Billion Increase in Fuel Cost Adjustment

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K-Electric

ISLAMABAD: The Central Power Purchasing Agency (CPPA) has proposed a Rs5 per unit increase in fuel cost adjustment (FCA) for upcoming electricity bills, seeking to generate an additional Rs35 billion for ex-Wapda Distribution Companies (Discos). The National Electric Power Regulatory Authority (Nepra) has scheduled a public hearing on March 28 to discuss this proposed hike. The increase in FCA is attributed to higher domestic coal and gas prices, despite cheaper imported fuel prices and a stable exchange rate in February. This development raises concerns about the power sector’s ability to…

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