Tag: gas

SSGC swings to Rs. 8.29 billion profit in FY24, up 1,092% YoY

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ssgc

Karachi: Sui Southern Gas Company Limited (SSGC) has announced its consolidated financial results for the fiscal year ended June 30, 2024, showcasing a notable recovery compared to the previous year. The company reported a consolidated profit of Rs. 8.29 billion, a significant turnaround from the loss of Rs. 836 million in FY 2023. Earnings per share (EPS) stood at Rs. 9.41, compared to a loss per share of Rs. 0.95 in the prior year. The company’s net revenue increased to Rs. 465.87 billion, up from Rs. 451.48 billion in FY 2023,…

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OIL AND GAS REGULATORY AUTHORITY

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New-RLNG

Islamabad, May 13, 2025: The Oil and Gas Regulatory Authority (OGRA), in accordance with the Policy Guidelines of the Federal Government, has determined the Re- gasified Liquefied Natural Gas (RLNG) prices effective May 01, 2025, as under: Month SNGPL SSGCL Transmission Distribution Transmission Distribution   US $/MMBtu US $/MMBtu May-25 11.0257 11.7925 9.7367 10.8742 Apr-25 12.5895 13.4789 11.2718 12.5910         Increase / (Decrease) -1.5637 -1.6864 -1.5351 -1.7168                            % -12.42% -12.51% -13.62% -13.64% 2.  The RLNG price Notification for the month of May 2025 is readily available at OGRA website…

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New Petroleum Minister Vows to Resolve Exploration Sector Challenges

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Ali-Pervaiz

ISLAMABAD: Newly appointed Petroleum Minister Ali Pervaiz Malik has pledged to address long-standing challenges in Pakistan’s oil and gas sector, which have hampered indigenous exploration and production activities. The move follows the removal of former minister Musadik Malik, whose bureaucratic approach was widely criticized for creating bottlenecks instead of solutions, prompting Prime Minister Shehbaz Sharif to intervene by forming a high-level gas committee led by Deputy PM Ishaq Dar. Among the foremost challenges is the finalisation of a model agreement for tight gas, which remains unsigned despite Oil and Gas…

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Senate Panel Questions Gas Outages Amid Surplus Supply

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Senate-Panel

ISLAMABAD: A Senate committee on Tuesday raised serious concerns over persistent gas load-shedding in several regions of the country, despite the availability of surplus gas. Chaired by Senator Umar Farooq, the Senate Standing Committee on Petroleum was informed that Sindh had emerged as the country’s largest gas producer and consumer—producing 1,609 million cubic feet per day (mmcfd) and consuming 1,115 mmcfd. Senator Kamil Ali Agha highlighted unannounced gas outages in Lahore, noting that many residents were forced to rely on expensive LPG cylinders. He criticized the government for prioritizing industrial…

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OGRA Member Finance Gets One-Month Extension Amid Ongoing Appointment Delays

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New-OGRA1

ISLAMABAD – The Cabinet Division has granted a one-month extension to the contract of the Member Finance of the Oil and Gas Regulatory Authority (OGRA), as the appointment of a regular member remains pending. According to an official notification issued on Tuesday, the federal government has once again opted for a short-term extension to ensure that the four-member OGRA commission remains functional. While this temporary arrangement keeps the authority operational, the key position of Member Gas continues to remain vacant for the past two years, raising concerns over regulatory efficiency…

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