The price of diesel is set to cross Rs200 per litre for the first time in history on the back of soaring crude oil prices in the global market and sharp depreciation of the rupee against theUS dollar. In the second fortnight of current month starting April 16, the newly formed government would be required to either jack up the…
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Processors in the South Asian nation recently bought millions of barrels of Urals crude via open tenders, with some supplies going at a premium of $1 a barrel to London’s Dated Brent benchmark on a delivered basis, said traders. That compares with discounts of more than $30 a barrel for the same grade in Europe. Officials at the Indian refineries…
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Like the first sparrow of spring, Iraq’s reversal of all promises made to the U.S. in order to secure another waiver to import electricity and gas from still-sanctioned Iran is a regular and much-anticipated feature of the oil year for seasoned market watchers. This year has been no different. Some have interpreted the 120-day waiver, which is the equal longest…
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National Transmission and Despatch Company (NTDC) has raised questions on energy conservation targets assumptions by the National Energy Efficiency and Conservation Authority (NEECA) in its National Energy Efficiency and Conservation (NEEC) Policy 2022. NTDC, in a letter to NEECA, has acknowledged that energy efficiency and conservation targets are very vital building block for the long-term energy and demand (electricity) forecast.…
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Oil sector has warned of acute fuel shortage if its price differential claims (PDC) are not cleared on time, petrol volume in white oil pipeline is not increased fast, and timely payments under petrol IFEM (Internal Freight Equalization Margin) are not ensured. If this situation continues to stay unabated, then industry will not be able to meet the country’s fuel…
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Oil and Gas Regulatory Authority (OGRA) has slashed the price of Re-gasified Liquefied Natural Gas (RLNG) for Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company (SSGC) by $0.20/mmbtu to $15.62/mmbtu and $16.91/mmbtu, respectively for the month April. According to the revised price notified by OGRA, a total of eight RLNG cargoes were received out of which seven…
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The meeting discussed various measures to control the skyrocketing prices of petrol in the country. The participants of the huddle were briefed on the existing formula relating to fuel prices in the country. It was discussed in the meeting how the government can continue subsidies on petroleum products. The participants also discussed steps to overcome electricity load shedding amid ongoing…
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Banks have revised credit lines for the oil industry to facilitate the import of petroleum products to meet the country’s requirements. Earlier, the Oil Companies Advisory Council (OCAC) – an industry lobby – brought the matter before the State Bank of Pakistan (SBP), asking it to intervene and advise commercial banks to enhance the credit limit for oil companies. OCAC…
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Former Federal Climate Change Adviser, Malik Amin Aslam, has cautioned the newly elected government against launching again new imported coal-based power generation projects as doing so wouldn’t be in the interest of Pakistan. The former Climate Change Adviser expressed these remarks while taking part in a dialogue on “Pakistan’s New Government: the future for Energy and Environment” organised by the…
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