With oil prices rebounding to pre-COVID levels as demand slowly returns, independent oil and gas companies need to resist the temptation of thinking that their biggest challenge is behind them. Short-term, the pandemic sent the markets into a tailspin. COVID-19 created a temporary market imbalance that, while devastating to demand and pricing in 2020, should be corrected by 2022. But…
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As international crude oil prices have started to rise and calls for Brent at $100/bbl are being heard, panic must be setting in Islamabad, although it may not be apparent yet. There have been calls for gradual increase in petroleum prices in anticipation of the price increase before it gets too late. (See: “Oily slope” published on June 7, 2021).…
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The International Maritime Organization (IMO) has certified Byco’s oil spill response (OSR) team for achieving Level II and III professional training and certification, a statement said on Monday. Byco is the only Pakistani oil company having a dedicated oil spill response team capable of managing oil spills, whose members are IMO certified, it added. Azfar Saeed Baig, vice president of…
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Amid the LPG prices going up in the country, JJVL (Jamshoro Joint Venture Limited) LPG and NGL extraction plant still awaits the nod of Sui Southern Gas Company (SSGC) for supply of gas despite the fact that AF Ferguson & Company (AFFCO), appointed as supervisor by the Supreme Court in its final determination report, has established the commercial and financial…
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An atmospheric research station in Hawaii recorded its highest concentrations of carbon dioxide since accurate measurements began 63 years ago, a government agency said Monday, adding that the coronavirus pandemic had barely impacted rising levels of the greenhouse gas. The Mauna Loa Atmospheric Baseline Observatory’s measurements for May 2021 averaged 419 parts per million (ppm), up from 417 ppm in…
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Islamabad June 06 2021: Special Assistant to Prime Minister on Power and Petroleum said that foreseeing ample capacity government has decided to retire older plants based on Residual Furnace Oil (RFO). This will help to save PKR200 in capacity payments. Government will buy private Independent Power Producers on Net Present Value basis which comes out to be half of the…
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The International Maritime Organization (IMO)has certified Byco’s Oil Spill Response (OSR) team for achieving Level II & III professional training and certification. Byco is the only Pakistani oil company having a dedicated Oil Spill Response team capable of managing oil spills, whose members are IMO certified. Mr. Azfar Saeed Baig, Vice President, Byco Petroleum Pakistan Limited, recognizing the achievement, commented:…
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Getz Pharma Pvt. Ltd. announced today that its new manufacturing facility, named Astola, has been awarded the First LEED Platinum Certification for a pharmaceutical plant in South Asia, by the U.S. Green Building Council. With this achievement, Pakistan has proudly become the first South Asian country to have received the LEED Platinum Level Certification for a pharmaceutical plant. Achieving the…
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The National Electric Power Regulatory Authority (Nepra) has revised the seven- month tariff for K-Electric on account of fuel adjustment. It allowed the power utility to increase the rates for July, August, September and December 2020, and decrease the tariff for June, October and November 2020. Nepra issued a decision on Friday relating to revision in tariff for K-Electric on…
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The government is making its mind to introduce more slabs for electricity consumers to ensure the implementation of targeted subsidies in the next budgetary year 2021-22. “Yes, we are working on it and will carve out slabs starting from 200-300 units 301-400 units, 401-500 units, 501-600 units and 601-700 units and so on for ensuring the targeted subsidy,” SAPM on…
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