Singapore based LNG trading company — GUNVOR has intimated the authorities in the government that it will not be able to deliver its term LNG cargo which is due on January 10, 2022 by claiming the force majeure. However, it has not yet informed Pakistan LNG Limited as to when this term cargo will be provided, a well placed senior…
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Amid major gas supply constraints, the government may have to rethink its energy subsidy priorities after coughing up over Rs80 billion per annum in handouts to the export industry in the last over three years as it found little connection between subsidies and export growth, with the textile industry even reneging on its side of the pledge. A senior government…
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Despite 67 per cent power supplies from cheap domestic resources with static prices, ex-Wapda distribution companies (Discos) have sought almost 116pc increase — Rs4.33 per unit (kWh) — in fuel price adjustment for electricity they sold in November to grab around Rs36 billion additional funds. The National Electric Power Regulatory Authority (Nepra) has accepted their petition for public hearing on…
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A specially convened meeting of the 57 member states of the OIC Sunday vowed to play a leading role in the delivery of humanitarian assistance to the people of war-torn Afghanistan and unanimously agreed on establishing a humanitarian Trust Fund, launching a Food Security Programme and engaging with the World Health Organization for securing vaccines and medical supplies. The meeting…
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The World Bank’s Board of Executive Directors on Saturday approved $195 million in financing to support Pakistan in improving electricity distribution and implementing energy sector reforms to increase service quality for consumers. According to a statement issued by the international financial institution, the Electricity Distribution Efficiency Improvement Project (EDEIP) will help distribution companies improve operations to manage the electricity supply…
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Punjab’s first stubble-based bio-CNG plant is collecting paddy straw from agricultural sites in preparation for commissioning in January. Officials at the plant in Sangrur have already collected around 10,000 tonnes of paddy straw for their operations, the reported. The plant will produce more than 33 tonnes of CBG or bio-CNG per day and is capable of collecting and utilising over 100,000…
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In Pakistan, gas demand is increasing and production contracting, creating supply gaps and shortages. Gas is a convenient, clean and non-polluting fuel. At present, there is no substitution of gas in the domestic and industrial sectors. The fact is that 60% of Pakistan’s gas needs emerge out of the non-power sector. There can be different views on the use of…
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Engro Corporation and Royal Vopak are evaluating the process of setting up Pakistan’s first multi-functional onshore LNG terminal along with its existing Floating Storage Regasification Unit (FSRU-based) terminal with an estimated capital expenditure of around $500-600 million dollars. It would offer regasification, bunkering and LNG trucking services. The federal government has also asked the company to review its expansion plan,…
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The crisis of non-availability of POL products has started emerging on the scene as the Pakistan Refinery Limited (PRL) with capacity to refine 55,000 barrels per day of crude oil has shut down its operations to produce the POL products in the wake of non-availability of storage capacity, brimming with FFO (Furnace Fuel Oil). The PRL, in its official statement,…
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The respite in global crude oil price finally offered a breather to retail gasoline prices, without the government having to cut down on petroleum taxes. The reduction of Rs5/ltr (3 percent) for December’s last fortnight is the first in seven fortnights. A significant depreciation in rupee’s value against the greenback has taken some of the sheen away, as PKR depreciation…
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