The Houthi-led government in Yemen this weekend signed a deal with Chinese officials and a Chinese company that will invest in oil exploration in Yemen. China’s Anton Oilfield Services Group (AntonOil) and a representative of the Chinese government signed on Saturday the memorandum
Read MoreDay: May 23, 2023
Rs67bn Loss Caused Thru Misuse of Subsidised RLNG For EoUs
Directorate General of Audit Petroleum and Natural Resources has found shortcomings in supply of subsidized RLNG to Export Oriented Units (EoUs), which was massively misused as no monitoring mechanism was framed by the ministry of Commerce (MoC) and Federal Board of Revenue (FBR) for checking
Read MoreSwelling Circular Debt Also Affects NPPs
As the country’s energy sector is facing a cumulative circular debt of stock of over Rs 4 trillion, Nuclear Power Plants (NPPs) are also victim of indecisions of federal government entities with respect to payment of overdue receivables. Of Rs 4 trillion total circular debts, Rs 2.6 trillion is related to power sector whereas the stock of petroleum sector stands at Rs 1.7 trillion.
Read MoreThe Climate Issue
The Pakistan Metrological Department has released its monthly report for March, which discloses that 42 per cent more rainfall occurred in March than average. Last year, Pakistan bore the brunt of climate change in the form of destructive floods and is still recovering from the loss of $30 billion caused by the floods.
Read MorePower Generation Record Fall
Electricity generation in April 2023 went down 23 percent year-on-year. April of 2018 saw higher electricity generation than April of 2023. This is how worrisome the slide is – by far the steepest fall recorded in power generation in at least 15 years. The previous low was during the peak Covid three years ago
Read MoreOGDCL to Fuel Pakistan’s Energy Needs With New Gas And Oil Production
OGDCL’s Bettani field prepares to deliver energy boost to Pakistan Oil and Gas Development Company Limited (OGDCL) is gearing up efforts to commence gas production of 10 Million Standard Cubic Feet per Day of gas and 1,000 barrels per day of oil from Wali exploration block, also known as the Bettani field, located in F.R. Laki, Khyber Pakhtunkhwa from the next month of June 2023.
Read MoreOMCs Raise Concerns Over OGRA’s Inability To Curb Iranian Oil Smuggling
Emerging oil marketing companies (OMCs) in Pakistan, grappling with financial losses due to the smuggling of Iranian petroleum products in the country, have raised concerns about the effectiveness of the Oil & Gas Regulatory Authority (OGRA) in curbing these illicit trade. In a letter to OGRA chairman,
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