Saudi Arabia, the world’s largest oil exporter, could raise its official selling prices for Asia for April to the highest differentials to benchmarks on record, as buyers scramble to secure additional crude from the Middle East amid toxic Russian cargoes after Putin’s invasion of Ukraine. The Saudis are expected to raise significantly their official selling prices (OSPs), and Arab Light—the…
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Western European nations are scrambling for ways to live without Russian natural gas, bracing for the possibility that either the Kremlin switches off the taps or political pressure for tighter sanctions erupts into a full energy embargo. With Russian troops advancing into Ukraine, European Union governments are concerned that the source of 40% of the region’s gas could either be…
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Sui Southern Gas Company (SSGC) has announced to shut down CNG stations in the province for three days in the ongoing week, ARY NEWS reported. According to an announcement from the SSGC, the CNG stations have been shut down for 72 hours in the ongoing week. There will be no CNG available for 72 hours from Friday to Monday, the…
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The country has purchased around 10 liquefied natural gas (LNG) cargoes at a weighted average cost of $14.5 mmbtu (Metric Million British Thermal Units) for the current month, which is almost 75 percent less as compared to the existing rate of $60/mmbtu in the international spot market. Minister for Energy Hammad Azhar said this in a tweet on Thursday, adding:…
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As a major supply crunch of liquefied natural gas (LNG) looms amid Russia’s invasion of Ukraine, Pakistan is switching to expensive and dirty diesel fuel to generate electricity, Bloomberg has reported. Pakistan’s diesel-fired power generation surged to the highest level in at least seven years in January, while LNG-based output dropped to the lowest in almost two years, according to…
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Senate Standing Committee on Maritime Affairs, Thursday, asked the Gwadar Port Authority (GPA) to expedite work on acquisition of land for the port, as the panel was informed that PC-1 regarding land acquisition worth Rs48 billion has been sent to the prime minister for approval. The committee, chaired by Senator Rubina Khalid, was given a detailed briefing on Gwadar Port…
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Oil Companies Advisory Council (OCAC) has warned of a brewing petroleum crisis, similar to the one in June 2020, in case the government kept domestic prices frozen till the next budget as per the prime minister’s announcement. Warning the Ministry of Energy, OCAC, the umbrella organisation of oil sector companies in a letter requested the ministry to remove Price Differential…
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PAEC connects 1100MW K-3 nuclear power plant to gridISLAMABAD/KARACHI, March 04, 2022: Pakistan Atomic Energy Commission (PAEC) has connected Karachi Nuclear Power Plant Unit-3 (K-3) to the national grid. The 1100 megawatts generation capacity nuclear power plant (NPP) had achieved criticality on 21st February and was undergoing certain safety tests and procedures before it could finally be connected to the…
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The experts said this during a special meeting ‘Examining the future direction of the electricity market in Pakistan: The case of Competitive Trading Bilateral Contracts Market (CTBCM),’ held by Sustainable Development Policy Institute (SDPI). Delivering his keynote speech, Dr Fiaz Ahmad Chaudhry, Werner-Von-Siemens Chair, LUMS Energy Institute (LEI), informed the participants about the design of the CTBCM model for Pakistan…
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