The decision was announced by the Ministry of Finance on the recommendations of the Oil and Gas Regulatory Authority (Ogra). According to the decision, the ex-depot price of petrol will come down to Rs100.69 per litre from Rs102.40 — a reduction of Rs1.71 per liter or 1.67pc. The product is mostly used in private transport, small vehicles and two-wheelers. Likewise,…
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Not too far from the besieged government, bright stars of the private sector are carefully preparing to dig their heels deeper in the business landscape of Pakistan. In the midst of a historic health crisis, besides negotiating mounting political, economic and diplomatic pressures, Prime Minister Imran Khan’s government is struggling to deal with the embarrassment and hefty fine in a…
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ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) on Wednesday issued four notifications, determining the sale price of imported Regasified Liquefied Natural Gas (RLNG) for the months of August, September, October and November. According to a notification issued for the current month, the authority has fixed per Million British Thermal Unit (MMBTU) RLNG price at $7.6584 on the system of…
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Amid fast depletion of existing hydrocarbon deposits and increased energy demand, the Petroleum Division has constituted a team to conduct a forensic audit of the dry/shut-in wells drilled in different parts of the country by exploration & production (E&P) companies. According to sources, a four-member core committee has been constituted under the chairmanship of Dr Naseem Ahmed (ex-ED/MD OGDCL) to…
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In a landmark decision, the Oil and Gas Regulatory Authority (Ogra) on Wednesday decided to slash the unaccounted-for-gas (UFG) benchmark for liquefied natural gas (LNG) consumers, a move that would lead to a major reduction in prices. UFG is defined as losses and leakages of gas in systems of gas distribution companies, which they charge from the consumers. Earlier, Ogra…
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In a bid to qualify for the third loan tranche of International Monetary Fund (IMF) programme, Pakistan will have to amend two laws to give autonomy to the central bank and legal mandate to the power sector regulator for notifying new electricity prices. “Amendments to the National Electric Power Regulatory Authority (Nepra) Act and the State Bank of Pakistan (SBP)…
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The World Bank’s International Center for Settlement of Investment Disputes (ICSID) last year ordered Pakistan to pay damages of $5.84 billion to Tethyan Copper – a joint venture between Chile’s Antofagasta and Canada’s Barrick Gold – for blocking Tethyan from developing the Reko Diq copper asset after it had already sunk more than $220 million into the project in Balochistan.…
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Chairman of Prime Minister’s Taskforce on Science and Technology Dr Atta ur Rehman on Tuesday remarked that the Pfizer vaccine, being celebrated worldwide, is not suitable for Pakistan. “This vaccine is not suitable for Pakistan in my opinion,” the former head of the HEC told Geo Pakistan, and warned that it was “too early to celebrate” the news regarding the…
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The 10th Joint Cooperation Committee (JCC) meeting on CPEC is about to happen. The agenda is being finalised and preparations are in full swing. The Government of Pakistan intends to discuss a host of infrastructure projects during the meeting, besides the three priority special economic zones. But in the meanwhile, some interesting developments are taking place globally and regionally that will…
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A World Bank (WB) study launched Tuesday suggests that a major scale-up of variant renewable energy (VRE) could help Pakistan save US$5 billion in costs over the next 20 years, mainly from reduced fuel consumption. “Pakistan should quickly implement a major scale-up of solar and wind generation,” the report advised. The study, titled Variable Renewable Energy (VRE) Integration and Planning,…
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