The Lahore High Court (LHC) on Monday summoned a reply from the Petroleum Ministry and the Oil and Gas Regulatory Authority (OGRA) over the recent hike in fuel prices. LHC bench heard a petition challenging the increase in the prices of petroleum products. The petitioner has argued that petrol prices have been increased in Pakistan despite downward trend at the…
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Pakistan Software Houses Association (P@SHA) and Alkhidmat Foundation have joined hands to help alleviate the miseries of the flood-affectees in these times of crises of unprecedented proportions. P@SHA member companies have collectively donated 15 million to Alkhidmat Foundation and more contributions are on their way. As a responsible association determined to contribute to prosperity of Pakistan, P@SHA initiated the relief…
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The federal government has started the implementation process for grant of relief to power consumers over fuel charge adjustment (FCA) as announced by Prime Minister Muhammad Shehbaz Sharif. A formal notification has been issued by the Ministry of Energy, copy of which is available with The Nation. According to a notification of the Ministry of Energy (Power Division), Non-ToU domestic,…
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Gas supply to affected areas of Balochistan will be restored shortly as the technical team of Sui Southern Gas Company has repaired the 12-inch diameter gas pipeline swept away by rains and floods in the Bibi Nani area of Bolan district. Talking to media on Sunday, the SSGC officials told that the repair work of the affected pipelines had been…
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Foreign Minister Bilawal Bhutto Zardari along with diplomats of more than 20 countries and representatives of international organizations visited the flood affected areas of Sindh, Balochistan and Khyber Pakhtunkhwa . The diplomats from Turkmenistan, Bahrain, Saudi Arabia, Azerbaijan, Germany, Spain, United States, China, France, Japan, Italy, South Korea, Qatar and Turkey among several other countries as well as representatives of…
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German is acquiring liquefied natural gas (LNG) terminals as part of its efforts to diversify away from Russian gas. It leased four floating storage and regasification units (FSRUs) in May capable of importing at least 5 billion cubic metres (bcm) of seaborne gas per year, two of them due to become available this year. Wilhelmshaven will become the first LNG…
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Refining margins for 180-cst high sulphur fuel oil remained weak on Friday despite an uptick in cash differentials over recent trading sessions. The front-month crack was at a discount of $20.60 per barrel at the Asia close (0830 GMT) on Friday, declining further compared to an average discount of $16.59 per barrel over last month, based on Refinitiv data. Fuel…
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Capping the price of Russian oil, an approach G7 members said Friday they want to pursue “urgently,” would be an unprecedented move and one which some analysts say could backfire. Russian oil would be purchased at a discount from prevailing market prices, to limit Moscow’s profits as it prosecutes its war against Ukraine; but it would keep the price above…
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On the directions of Prime Minister Shehbaz Sharif, the administration is working on war-footing to restore electricity in flood-hit areas across the country. PM Shehbaz himself is monitoring the work of power restoration in areas hit by large-scale deluges and the authorities will report him about the progress on work on daily basis. All the high-ups in power division have…
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Pakistan has assured the International Monetary Fund (IMF) that it will “strive” to reduce capacity payments to the China-Pakistan Economic Corridor (CPEC) power projects either by renegotiating deals or having loans rescheduled — a big concession that might prove to become costly. Written assurance has been given in the Memorandum for Economic and Financial Policies (MEFP), which the IMF released…
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