Tabeer Energy and Energas, were pressing the Port Qasim Authority (PQA) and the government to win waiver from the commitments included in the implementation agreement (IA). Their plans to set up LNG terminals have also been delayed.Tabeer Energy’s consultant Japan Marine Science said it would address PQA’s concern regarding TEPL’s stance on maintaining the original jetty location. Tie-in-point coordinates were…
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As the private sector is engaged in setting up liquefied natural gas (LNG) terminals, it has sought guarantees and waivers from some obligations and regulatory approvals. Interestingly, the existing LNG terminals have plans to replace the Floating Storage and Regasification Unit (FSRU) without financial risk for the government but the maritime affairs minister opposes the plan. The government has allowed…
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PTT Exploration and Production Public Company (PTTEP) has bought a 20% participating interest in Oman’s Block 61, one of the largest gas developments in the Middle East, strengthening its upstream and midstream profile in the Sultanate. The acquisition will immediately add to the company’s petroleum reserves and sales volumes, foster its long term growth, and open up further investment opportunities…
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Shell and its European rivals are seeking new business models to reduce their dependency on fossil fuels and appeal to investors concerned about the long-term outlook for an industry under intense pressure to slash greenhouse gas emissions. Shell will present its strategy on Feb. 11 and unlike Total and BP the company will focus more on becoming an intermediary between…
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KARACHI: Sindh has asked the federal energy ministry for addition of its recommendations in the National Electric Policy 2021, ARY News reported on Tuesday. Sindh’s Energy Minister Imtiaz Shaikh in a letter to Federal Energy Minister Omar Ayub has said that the recommendations submitted by Sindh, have been ignored in the draft of the National Electric Policy, “How could a…
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Descon Engineering Limited (DEL) conducted its CEO Communication Session in January 2021 in all of its offices, to further build on its foundation of open communication and trust. The session was opened by Maqsood Ali, President HR, who stressed on the importance of core values in shaping the organization’s culture. He also talked about one of Descon’s core values “Teamwork”.…
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Hitachi ABB Power Grids and Hitachi Vantara today announced the integration of Hitachi ABB Power Grids’ Digital Enterprise (DE) flagship solutions within the Lumada portfolio of advanced digital solutions and services for turning data into insights. The two Hitachi business entities have agreed to rebrand the DE components as Lumada Asset Performance Management (APM), Lumada Enterprise Asset Management (EAM) and…
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Pakistan is facing an oil and natural gas shortage due to a considerable decrease in local production this year. The official data revealed that the commercial supply of oil decreased by 19.8 per cent in the financial year 2018-19 compared to the past years. The Hydrocarbon Development Institute of Pakistan, under the Ministry of Energy has published the Pakistan Energy Yearbook…
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ISLAMABAD: A deadlock continues to persist between OGRA and the state-owned entity Pakistan LNG Limited (PLL) on increasing the LNG margin up to 3.75 percent as the regulator says that the revised margin will cause more increase in the LNG price for consumers in Pakistan. And more importantly, OGRA also contends that it cannot take decisions on such petitions without…
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With the Pakistan Tehreek-e-Insaf (PTI) government set to open the liquefied natural gas (LNG) market for the private sector to reduce financial risk, a Petroleum Division official has underlined the need for a long-term LNG deal. The country has already a long-term LNG deal with Qatar. Consumers are forced to consume expensive LNG due to the involvement of government entities…
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