Karachi industrialists announce shutdown on December 4

gas-plant

• Ask govt to take back unprecedented hike in gas tariffs• Production suspension to cause $47m per day export loss KARACHI: Industrialists in the economic nerve centre of Pakistan have announced a complete production shutdown on Monday (Dec 4) to force the caretaker government to reverse the unprecedented hikes in the gas tariffs. They estimate a per day export loss of $47…

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LPG prices go up by Rs45.18 per cylinder for December

LPG-plant

ISLAMABAD: The caretaker government on Wednesday raised the prices of liquefied petroleum gas (LPG) by Rs3.83 per kilogram for commercial and domestic consumers for December, citing a rise in the average dollar exchange rate. The Oil and Gas Regulatory Authority (OGRA) said in a notification that the LPG prices increased to Rs254.86 per kg from Rs251.03 in November, affecting various…

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Pakistan LNG awards tender to OQ Trading

lng-1

ISLAMABAD: State-run Pakistan LNG Ltd (PLL) on Monday awarded a contract to OQ Trading —an Oman subsidy — to deliver an LNG cargo in the second week of January at a post-bidding negotiated price of $17.95 per million British thermal unit (mmBtu) to minimise peak winter gas shortage. Earlier, the PLL had received four international bids against its urgent tender.…

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OMAP urges ministry, Ogra to reconsider proposed weekly adjustments

oil-and-gas

LAHORE: Chairman Oil Marketing Association of Pakistan (OMAP) Tariq Wazir Ali on Sunday appealed to the Ministry of Petroleum and Oil and Gas Regulatory Authority (OGRA) to reconsider the proposed option of shifting from fortnightly to weekly fuel price adjustments. In a statement issued here, Tariq Wazir Ali said that OMAP believes that such a move will have severe and…

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PPL begins oil and gas production from new well in Punjab

oil-gas.

KARACHI: Pakistan Petroleum Limited (PPL) said on Friday it had started production of oil and gas from a new well in the Pothwar region of Punjab The company, which operates the Adhi Mining Lease with joint venture partners Oil & Gas Development Company Ltd (OGDCL) and Pakistan Oilfield Ltd (POL), said the Adhi South-6 well was drilled to a depth…

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$10bn TAPI project: Law ministry’s opinion sought afterTurkmenistan’s demand

gas-pipeline

ISLAMABAD: The fate of Turkmenistan’s demand seeking legislative cover of Foreign Investment Promotion and Protection Act (FIPPA), 2022 for its investment to be made in Pakistan’s territory, under the trans-nation $10 billion TAPI gas pipeline project, depends upon the legal opinion from the Law Division. The gas pipeline from Turkmenistan has to pass through Afghanistan, Pakistan and India. Turkmenistan will…

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Govt to address refineries’ concerns over upgradation agreements

oil-gas.

KARACHI: The government is finalising a proposal to address the concerns of four oil refineries that have not signed upgradation agreements with the energy regulator, sources told The News on Monday. The refineries have raised issues over taxation, arbitration, force majeure and import incentives, which they say are not in line with the Brownfield Refinery Policy announced in August, the…

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