Pakistan and Russia on Friday signed a revised Inter-Governmental Agreement (IGA) to kick off construction work on the North-South Gas Pipeline project. Pakistan and Russia had signed IGA in 2015 to execute a gas pipeline project but they could not kick off construction work due to US sanctions on Russian firms. They had now revised…
Mari Petroleum has announced the commencement of natural gas production from Benari X-1 Field in Shah Bandar Block w.e.f 3rd May 2021. The country needs more gas produced locally because it is not only a cheaper source of burning but also overall has a soothing impact on the environment as well. Cabinet allows Mari Petroleum…
Aftab Ahmed Islamabad: Pakistan has allocated $87 million to execute North-South Gas Pipeline Project. The project will also be a new stream of revenue for Pakistani utilities-SNGPL and SSGCL. Two Sui companies-SNGPL and SSGCL will be a partner in this project. These companies will also become a partner with Russian companies in executing the gas…
Govt has diverted funds to petroleum division it allocated for gas development schemes in Sindh Province Aftab Ahmed The PTI government has diverted funds worth Rs 50 million allocated for gas development schemes in Sindh to the petroleum division. Sindh is a key gas-producing province. Sui southern gas company (SSGC) was to execute gas development…
Aftab Ahmed Sui Southern Gas Company (SSGC) has refused to pay Rs 59 billion to Sui Northern Gas Pipeline Limited (SNGPL) despite it collects from the customers on account of retaining RLNG supplies. SNGPL in a letter sent to Pakistan LNG Limited (PLL) over default of late payment surcharge on account of RLNG supply, gas…
Aftab Ahmed The Oil and Gas Regulatory Authority (OGRA) has allowed a 5.4 percent increase in gas prices for Sui Southern Gas Company (SSGC) consumers. The regulator allowed a hike in the prescribed gas price while determined the estimated revenue requirement (ERR) of Sui Southern Gas Company (SSGC) for the financial year 2020-21. The oil…
Aftab Ahmed Amid the corona economic crisis, Sui Southern Gas Company (SSGC) turns to be a top defaulter of Oil and Gas Development Company Limited (OGDCL) with Rs 192.4 billion dues pending for a long. Gas companies, Uch Power plants, and refineries have trapped OGDCL in Rs 400 billion circular debt. The management of the…
Aftab Ahmed Unaccounted for Gas (UFG) means losses on account of gas theft and leakages. Cabinet finally approves the splitting of two public sector gas utilities to control UFG. Pakistan has a monopoly of two public sector gas utilities-Sui the Northern Gas Pipeline Limited (SNGPL) and Sui Southern Gas Company Limited (SSGCL). UFG The UFG…
Aftab Ahmed As the country is said to face a worsening gas crisis in the winter season, imported gas may be a solution to minimize gas consumers’ miseries. During the last two winter seasons, the government had overcome the gas crisis. Still, it led to a rise in circular debt by Rs 73 billion due…
Aftab Ahmed Islamabad: Cabinet has approved the nomination of directors and Shahab Rizvi as possible chair of the board of Pakistan Petroleum Limited (PPL). Earlier, the cabinet had refused to approve the petroleum division’s nominations for the board of directors and chairman of PPL. In a new development, the cabinet has approved a new board…