Category: Shortcode

Govt report shines light on Pakistan’s natural gas issues

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gas-issues

ISLAMABAD: In the wake of increasing reliance on imported gas, Pakistan is left with no option but to go fresh long-term LNG import agreements at the GtG level with LNG-producing countries as the existing two import deals with Qatar may go in jeopardy in 2026 because of revision of the price cap clause that is due after 3 years. Under the agreements, Qatar, the LNG supplier, could demand in 2026 an increase in the LNG delivered price or just walk away from the existing contracts. The state-owned Pakistan State Oil…

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Emerging OMCs accuse OGRA of shirking regulatory responsibilities

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Oil-and-Gas

KARACHI: Emerging oil marketing companies (OMCs) have accused the Oil and Gas Regulatory Authority (OGRA) of deflecting from its responsibility to resolve the problems of the oil sector companies. Oil Marketing Companies Association of Pakistan (OMAP), the representative body of emerging OMCs in a letter written to the OGRA chairman on Thursday noted that the response of the regulator to their complaints has always been disheartening and contrary to the statutory role of OGRA. Empowered to regulate no less than $35 billion oil Industry, the letter said that emerging OMCs…

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Pakistan seeks energy partnership with Central Asia

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energy-partnership

ISLAMABAD: Pakistan is actively seeking to establish a partnership with Central Asia, particularly Turkmenistan, in the energy sector and facilitate the supply of Turkmen gas to the port of Gwadar, transforming it into an international energy hub. Pakistan’s objective is to attract investments from China, Europe, and other regions to establish liquefied natural gas (LNG) plants in Gwadar, with the intention of exporting LNG to their respective countries and other areas with high demand, Musadik Malik, the State Minister for Petroleum, expressed these views on Wednesday here. The Pakistan government…

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Why surcharge slapped on KE consumers for a year

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K-Electric

ISLAMABAD: K-Electric consumers got cheaper electricity from July 2019 to September 2020 as they did not pay the quarterly tariff adjustments (QTAs) during the said time. To this effect, the Economic Coordination Committee (ECC) allowed the utility company to recover Rs24.5 billion from its consumers in 12 months. K-Electric will pay the collected amount to the Central Power Purchase Agency (CPPA-G). According to the relevant Power Division official, the QTAs were pending due to various proceedings under adjudication/ decision at various forums. And due to this pendency, the impact of…

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PRL to submit report on Russian oil URAL in two weeks

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oil

ISLAMABAD: Pakistan Refinery Limited (PRL) may submit its report to the government in two weeks about the quality, yields, and commercial viability of the Russian crude oil URAL, which is heavier in nature, a senior official of the Petroleum Division told The News. The PRL, which is in the process of refining Russian crude will submit to the petroleum division about the yields (production of petrol, diesel, FO, and Light Diesel Oil, in terms of percentages), its quality, and more importantly how commercially viable for Pakistan’s economy after refining cost…

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