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Provinces Refuse to Share Subsidised LNG Costs, Rs17 Billion Burden Shifted to Domestic Consumers

Admin
Pakistan-LNG

The caretaker government has decided to burden domestic consumers with Rs17 billion in costs as provinces decline to bear the expense of subsidised liquefied natural gas (LNG) supplied to two fertiliser plants. Provinces are insisting on full recovery of LNG costs from farmers, leading to this decision. The Petroleum Division estimates that continuing the supply of re-gasified LNG at Rs1,239…

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Experts Advocate for Renewable Energy and Grid Modernization in Pakistan

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SDPI-logo

A webinar organized by the Sustainable Development Policy Institute (SDPI) brought experts together to discuss the future of renewable energy in Pakistan. Titled “Emerging Trends in Pakistan’s Renewable Energy Sector: Charting the Agenda for 2030 and Beyond,” the event emphasized the necessity of integrating renewable energy into the country’s energy mix while addressing grid modernization and local manufacturing constraints. Key…

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Independent Committee Confirms Power Firms’ Overbilling, Shifts Blame to PDM Government and Regulatory Authority

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PDM-Government

An independent inquiry committee, formed to investigate allegations of illegal overbilling by power distribution companies (Discos) in Pakistan, has confirmed the accusations made by the power regulator. However, the committee absolved the Discos of deliberate and malicious intent, attributing the overcharging partly to decisions made by the previous coalition government led by the PDM (Pakistan Democratic Movement) and the hasty…

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Fuel Prices Expected to Increase by Up to Rs4 per Litre

Admin
petroleum-group

ISLAMABAD: Anticipated adjustments in international prices, import premiums, and exchange rates are likely to result in an increase of Rs1-4 per litre for petrol and high-speed diesel (HSD) on Thursday (February 29) for the upcoming fortnight. Sources familiar with the matter indicate that minor fluctuations, ranging from 10 to 50 cents per barrel, were observed in the prices of petrol…

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OGDCL Inaugurates Pakistan’s First Digital Drilling Hub to Digitalize Oil and Gas Sector

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New-OGDCL

ISLAMABAD, February 28, 2024: The Oil and Gas Development Company Limited (OGDCL), Pakistan’s leading oil and gas company, on Wednesday inaugurated the country’s premier Digital Drilling Hub. This transformative facility, the first of its kind in Pakistan, marks a significant milestone in OGDCL’s commitment to leading-edge technological advancements within the industry.The Digital Drilling Hub, a flagship initiative of OGDCL’s Petroserv…

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Digitization of Pre-Historic Rock Carvings in Diamer Basha Dam Project Area:

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Basha-Dam

WAPDA awards Consultancy Services Contract February 28, 2024: The Pakistan Water and Power Development Authority (WAPDA) signed a contract worth Rs. 46.5 million with Quality Solutions Technologies (Pvt) Ltd for consultancy services for digitization of significant rock carvings in direct area of impact of Diamer Basha Dam with modeling and preparation of data for 3D printing. The major scope of…

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First meeting of FPCCI Energy Committee held.

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Energy-Committee

High officials and energy experts discussed challenges in energy sectorKarachi (February 28, 2024) The first meeting of FPCCI Central Standing Committee on Energy 2024-2025 was held under the chairmanship of the convener of the committee, Malik Khuda Bakhsh.The meeting was attended by business leaders and technocrats. Utilization of available resources, search for new resources and various suggestions were considered. Executive…

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Russia Implements Six-Month Ban on Gasoline Exports from March 1

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Russia-Implements

In a move to stabilize domestic prices and facilitate refinery maintenance, Russia has announced a six-month prohibition on gasoline exports starting March 1. The ban, approved by Prime Minister Mikhail Mishustin and confirmed by Deputy Prime Minister Alexander Novak, aims to address surging demand from consumers and farmers while mitigating the impact of recent attacks on Russian refineries. Deputy Prime…

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Draft LPG Policy Advocates Deregulated Pricing and Tax Incentives

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lpg-plant

The interim government has crafted a blueprint for the LPG policy in 2024, proposing the deregulation of LPG pricing alongside a range of tax incentives. Under this draft, new LPG production would enjoy a 10-year tax holiday, while petroleum levy would be abolished, and GST reduced from 18 percent to 5 percent. In this proposed framework, the Petroleum Division’s role…

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Government Moves to Shield NEPRA and OGRA from Political Influence

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nepra

In Islamabad, the caretaker Federal Government has announced plans to amend the National Electric Power Regulatory Authority (NEPRA) and Oil and Gas Regulatory Authority (OGRA) Acts with the aim of insulating both regulatory bodies from governmental interference in future tariff notifications. Sources close to the caretaker Minister for Power and Petroleum revealed this significant decision, which was made at the…

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