Tag: gas

ISLAMABAD: A high-level Saudi delegation, led by Minister for Investment Sheikh Khalid Bin Abdul Aziz Al Faleh, arrived in Islamabad on Wednesday for a three-day official visit aimed at enhancing trade and investment ties between Saudi Arabia and Pakistan. Federal ministers Abdul Aleem Khan (Board of Investment, Privatisation & Communications), Jam Kamal Khan (Trade), and Mohammad Musadik Malik (Petroleum), along…

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SINGAPORE: Oil prices dropped by over $1 on Tuesday as traders took profits following a sharp rally driven by fears of escalating conflict in the Middle East. Brent crude fell $1.17, or 1.5%, to $79.76 per barrel, while US West Texas Intermediate (WTI) dropped $1.19, or 1.6%, to $75.95 per barrel around 0420 GMT. The market saw a 3% rise…

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KARACHI: The oil sector has urged the Oil and Gas Regulatory Authority (Ogra) to revise the margins for oil marketing companies (OMCs) to alleviate growing financial pressures. In a letter to Ogra’s chairperson, the Oil Companies Advisory Council (OCAC) highlighted several issues, including smuggling, high financing costs, turnover tax, and insufficient margins, all of which are straining the industry. The…

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KARACHI: Pakistan’s five local refineries have linked the signing of Upgrade and Escrow Agreements with the Oil & Gas Regulatory Authority (Ogra) to the resolution of critical issues facing the sector. With the October 22 deadline approaching, the refineries have expressed concerns that unresolved matters are jeopardizing their operations and upgrade plans. In a letter to Ogra, the refineries highlighted…

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ISLAMABAD: Deputy Prime Minister Senator Ishaq Dar, leading the task force on gas-related issues, has directed authorities to initiate plans to reduce margins, taxes, duties, and port charges on imported LNG by 50%, aiming to make re-gasified LNG (RLNG) more affordable for consumers. Currently, the landed cost of LNG is $10 per mmBtu, but this rises to $14 per mmBtu…

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ISLAMABAD: The absence of Petroleum Minister Musadik Malik has delayed a crucial decision on allocating 35% of future gas discoveries to the private sector, hindering progress in the 20-member Task Force on Gas-Related Issues, led by Deputy Prime Minister Ishaq Dar. Sources revealed that Malik, despite assurances of joining Monday’s meeting via video link from Russia, missed his second consecutive…

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Islamabad, September 30, 2024: The Oil and Gas Regulatory Authority (OGRA) has notified the maximum Price of LPG, effective October 01 2024, as under; 2.  The LPG price Notification for the month of October 2024 is readily available at OGRA website www.ogra.org.pk. 3. The LPG producer price is linked with Saudi Aramco-CP and US$ dollar exchange rate. As compared to…

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