Petroleum Division clarifies some facts of media reports on LNG procurement that roughly one-third of our monthly LNG purchases are on “spot” basis (and the remaining two-thirds on long-term contract basis) which is basically in line with global average for the LNG importing countries. It is known that the “spot” LNG commodity price has spiked recently (to over $15 per…
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Minister for Energy Hammad Azhar said on Thursday the government has taken up with Iran the issue of reduced electricity supply from the neighbouring country, which is causing hours-long outages in Balochistan. “Power shortfalls in Iran have led to loadshedding in our Gwadar, Turbat and Makran regions. These areas are not connected to the national grid and are dependent on…
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Three people died in a forest fire in southern Turkey on Thursday where authorities were battling multiple blazes for a second day amid suspicions of arson, the country’s AFAD disaster agency and the agriculture minister said. Dozens of villages as well as some hotels were evacuated, and television footage showed burnt buildings and people fleeing across fields as firefighters on…
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The National Electric Power Regulatory Authority (NEPRA) has announced a slight reduction of Rs. 0.21 per unit in the price of electricity. The notification issued in this regard on Wednesday detailed that the reduction has been approved on account of the monthly fuel cost adjustment (FCA) for June 2021 and will be adjusted in the billing month of August 2021.…
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Gunvor and PetroChina placed the lowest offers for a tender by Pakistan LNG to buy four liquefied natural gas (LNG) cargoes for delivery in September, two industry sources said on Wednesday. Offers suggest that spot prices for LNG are expected to climb to above $15 per million British thermal units (mmBtu) this week, a new multi-month high. Gunvor placed the…
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According to a notification submitted to the Pakistan Stock Exchange (PSX), the said discovery is unique as it is the first of its kind made in the Kawagarh Formation in Pakistan. It will open new avenues for exploration and will boost exploration activities in the country. The Wali well was drilled and tested using the OGDCL’s in-house expertise to a…
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Zi Solar Pvt. Ltd., a leading renewable energy solution provider in Pakistan, has entered into an exclusive partnership with Aeonus Co. Ltd., a Korean global leader in renewable energy. This partnership will pave the way for the deployment of state-of-the-art Korean-manufactured Electric Vehicles (EV) charging and storage equipment in Pakistan. The two companies will also collaborate in research and development…
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In view of the directives of National Command and Operation Centre (NCOC), Sui Northern Gas organised Corona vaccination camps for general public in Islamabad, Peshawar and Dera Ismail Khan. The camps were organised in collaboration with DHO Islamabad, Khyber Medical University Peshawar and DHQ Hospital Dera Ismail Khan. A large number of people benefitted from the camps held at Islamabad…
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The US and Pakistan are going to forge collaboration on addressing climate change aimed to mitigate and adapt adverse impacts of environmental degradation. Pakistan has emerged as a leading nation amongst the countries, endeavouring to address climate change and environmental degradation. Besides Pakistan’s other environment-related programmes, its clean and green agenda has been acknowledged worldwide, particularly by US Special Presidential…
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Balochistan Chief Minister Jam Kamal has written a letter to Prime Minister Imran Khan on the unavailability of electricity in Makran Division, requesting the PM to raise the issue with Iranian authorities and work out a mechanism to connect Makran Division to the national grid. In a letter addressed to Prime Minister Imran Khan, Chief Minister Jam Kamal on Wednesday…
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