In a public hearing organised by Oil and Gas Regulatory Authority (Ogra) on petitions for grant of licences for construction and establishment of two LNG re-gasification terminals at Port Qasim Karachi, all the stakeholders have supported the issuance of licences and unanimously asked the authority to expedite the process of grant of licences to private investors. Oil and Gas Regulatory…
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ISLAMABAD, (APP – UrduPoint / Pakistan Point News – 19th Apr, 2021 ) :Oil and Gas Regulatory Authority (OGRA) on Monday held a virtual public hearing on petitions seeking licences for construction and establishment of Liquefied Natural Gas (LNG) re-gasification terminals including all allied facilities at Port Qasim, Karachi. The hearing was conducted by OGRA chairman Masroor Khan via video-link…
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Mari Petroleum’s profit fell 17.95% to Rs6.96 billion in the quarter ended March 31, 2021 owing to exchange rate losses as Pakistani rupee appreciated by Rs7 against the US dollar in the third quarter of fiscal year 2020-21. According to a notice sent to the Pakistan Stock Exchange (PSX) on Monday, the oil exploration firm had reported a profit of…
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The government has decided to establish an appellate tribunal by amending the Oil and Gas Regulatory Authority (Ogra) Ordinance 2002 in order to give provinces representation in dealing with disputes in the oil and gas sector. The tribunal will comprise members from provinces, will work as a court and will have powers as vested in such a court under the…
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Report of the Inquiry Commission on Shortage of Petroleum Product in Pakistan
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TOKYO: Oil prices were lower on Monday as rising coronavirus infections in India and other countries prompted concerns that stronger measures to contain the pandemic will hit economic activity, along with demand for commodities such as crude. Brent crude was down 23 cents, or 0.3%, at $66.54 a barrel by 0426 GMT, after rising 6% last week. US oil was…
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“Gas is over,” proclaimed European Investment Bank chief Werner Hoyer at the beginning of this year as he stated the bank’s vision to end the unabated use of fossil fuels. European officials have since called on the World Bank to phase out lending for gas projects globally, and to end support for coal and oil. US President Joe Biden, meanwhile,…
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Last week when auto sales data was released, everyone jumped with joy. Why shouldn’t they? Sales figures for March 2021 increased 27% month-on-month, and since year-on-year comparison really isn’t fair due to the lockdown in 2020, everyone saw this as a delightful development for a sector that has various industries associated with its recovery. Figures for the nine-month period –…
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International Monetary Fund (IMF) programme is not in a strait jacket, so stated Resident Representative of the IMF in Islamabad Teresa Daban Sanchez, but evolves as the situation on the ground changes, recalibrated in Fund speak, with particular reference to the previously agreed timing of the implementation. A change of personnel or ministers “does not affect our role and commitment…
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A World Bank report throws shade on the results of a new study that says LNG as a fuel offers significant GHG reduction benefits, as orders for LNG-fuelled ships surge. Two studies released on the same day express widely different opinions of the environmental benefits of LNG as a marine fuel, clouding an already murky decarbonisation picture for shipowners. One…
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