ISLAMABAD: Power Division has handed over the entire documents of power Distribution Companies (Discos) to the Privatisation Commission (PC) meant to expedite sell-off process of those companies, well-informed sources told Business Recorder. The Discos employees are already protesting against the proposed privatisation of companies, fearing that they will lose jobs. On January 5, 2021, Privatisation Commission wrote a letter to…
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ISLAMABAD: The Ultimate Energy Services (Pvt) Ltd has signed an agreement with Energas Marketing (Pvt) Ltd for supply of imported LNG to the CNG stations in Sindh. The CNG industry has been facing severe gas loadshedding since a decade, which has worsened in the last two years. As a result, the CNG consumers have been deprived of their favourite and…
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KARACHI: The Directorate General of Petroleum Concessions (DGPC) has provisionally awarded four new exploration blocks to Mari Petroleum Company Limited (MPCL) in the latest block bidding round, the company announced on Wednesday. MPCL has been awarded two blocks as the operator and two as the joint venture partner with other local companies. The blocks have been awarded after competitive bidding…
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The National Electric Power Regulatory Authority (Nepra) has once again questioned the use of expensive furnace oil instead of re-gasified liquefied natural gas (RLNG) for electricity generation in December 2020. The regulator has also questioned the diversion of gas from power plants to other sectors during the month. At a public hearing of a petition of the Central Power Purchasing…
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With claims of charging 300% higher port charges on liquefied natural gas (LNG) vessels, the Petroleum Division has approached the Cabinet Committee on Energy (CCOE) with a proposal to reduce the charges. Two state-run energy companies – Pakistan LNG Limited (PLL) and Pakistan State Oil (PSO) – have pointed out that LNG vessels were still facing problems in navigating despite collection of…
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ISLAMABAD: Socar Trading — a commercial arm of the State Oil Company of Azerbaijan Republic — has offered supply of petrol and LNG cargoes to Pakistan LNG Ltd (PLL) and Pakistan State Oil (PSO) round the year on credit under a government-to-government (G2G) arrangement to build upon strategically friendly relationship between the two countries. A Socar Trading spokesperson told Dawn that Azerbaijan…
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ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Wednesday hinted at increasing electricity tariff by about Rs3.50 per unit over the next few days. At a public hearing on monthly fuel price adjustment (FPA) for distribution companies of ex-Wapda, the case officers of Nepra explained that Rs1.95 per unit increase in base tariff would be notified in a few…
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ISLAMABAD: Pakistan launched construction work on the Torkham-to-Nowshera portion of the $1.17 billion Central Asia-South Asia Regional Trade and Transmission Project (CASA-1000) on Wednesday. A virtual launching ceremony was hosted by Dr Bandar Hajjar, president of the Islamic Development Bank (IsDB), and Energy Minister Omar Ayub Khan. The state-run National Transmission & Despatch Company (NTDC) will undertake construction of a…
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Only 36 percent of Russia’s recoverable crude oil reserves can turn a profit in the current market, Deputy Energy Minister Pavel Sorokin said in an article for Energy Policy magazine. Russia’s recoverable oil reserves stand at some 30 billion tons or 219.9 billion barrels. This means that the profitable portion comes in at about 79.16 billion barrels. This is still…
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