Category: Shortcode

K-Electric (KE) management has sought a few weeks’ time for definitive comments on the draft of proposed Arbitration Agreement (AA) with the Federal Government, hinting at some internal changes in the management. According to a communication of Ahmad Irfan Aslam, Head, International Dispute Unit, Attorney General Office with Bilal Azhar Kayani, Coordinator to Prime Minister on Energy and Economy, a meeting was held at the Energy Division on August 3, 2022 concerning several issues related to settlement of disputes between K-Electric and different federal and provincial governmental agencies wherein he…

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In a significant development, Pakistan LNG Limited (PLL), a wholly-owned subsidiary of Government Holdings Private Limited (GHPL), failed to receive a single bid from international suppliers for the purchase of Liquefied Natural Gas (LNG) in a tender that expired on Monday. Back in August, PLL invited bids for 72 LNG cargoes from international suppliers across a period of six years. Suppliers were asked to submit bids by September 14, while bids were invited from reputed companies to ship cargo on a Delivered Ex-Ship basis (DES) at Port Qasim, Karachi, stated PLL. “Bid…

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A delegation from the Pakistan Army’s School of Artillery visited Cnergyico’s oil refining complex (formerly Byco Petroleum) in Hub – Balochistan. The delegates were received by Company’s senior executives and were given a detailed briefing on the refinery operations and future plans. Cnergyico’s oil refining complex is capable of processing up to 156,000 barrels per day of crude oil to produce a variety of high-value fuels, such as petrol and high-speed diesel. Cnergyico is the only energy company in the country that operates a private offshore port, called Single Point…

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The United States (US) has reportedly showed willingness to allow trade of Russian oil at discounted rates for a specific period, well informed diplomatic sources told Business Recorder. In case of Pakistan, US Embassy in Islamabad has expressed willingness to meet the officials of Petroleum Division to explain to them the mechanism to cut a short-term cut rate deal for Russian crude oil. Pakistan has already requested a deal with Russia to import wheat and oil at discounted rates. The new regime, sources said, has conveyed by the US in a…

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State-owned gas marketing firm Sui Southern Gas Company (SSGC) has decided to diversify its business, as the company has announced that it will start power production following a continuous drop in gas supplies from domestic fields. Its subsidiary company will also work on projects like producing gas from coal, biogas, bio-methane and hydrogen gas. “SSGC Alternate Energy (Pvt) Limited, a fully owned subsidiary of SSGC, has been incorporated as a private limited company under the Companies Act 2017,” the company said in an announcement on Saturday. The business model of…

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