Tag: Petroleum

Construction on ‘Strategic Underground Gas Storages’ to start in August

ISLAMABAD, Jan 04 (APP):The government has planned to construct the Strategic Underground Gas Storages (SUGS) in August this year to meet the increasing gas demand in future, which were considered mandatory along with the import of LNG as per international practices. “Feasibility study of the SUGS is scheduled to be completed in May, while construction… Continue reading Construction on ‘Strategic Underground Gas Storages’ to start in August

Petroleum SAPM explains LNG purchase, sale mechanism

ISLAMABAD, Dec 25 (APP): Special Assistant to the Prime Minister (SAPM) on Petroleum, Nadeem Baber Friday explained in detail the purchase and sale mechanism of Liquefied Natural Gas (LNG), rejecting all negative and speculative reports appearing in sections of the media for the last one-and-a-half months. In a series of video tweets on official account… Continue reading Petroleum SAPM explains LNG purchase, sale mechanism

All energy expensive contracts signed by PML-N, PPP: Omar

ISLAMABAD, Dec 19 (APP):Minister for Petroleum Division Omar Ayub Khan has said that all the energy expensive contracts in power and gas were signed by the previous governments of Pakistan Muslim League-Nawaz (PML-N) and Pakistan Peoples Party (PPP). On his social media account, the minister said, “in response to Ahsan Iqbal presser, he must be… Continue reading All energy expensive contracts signed by PML-N, PPP: Omar

Petroleum Division for avoiding sensationalism in gas sector

ISLAMABAD, Dec 05 (APP):The Petroleum Division (PD) on Saturday explained the link between Japan Korea Marker (JKM) and Brent pricing of the LNG, asking a certain media house to focus on the core issue of legal reforms and avoid sensationalism in the gas sector. “This is in reference to a program on electronic media and… Continue reading Petroleum Division for avoiding sensationalism in gas sector

Buying more LNG sans recovering full cost may create circular debt: Spokesman

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ISLAMABAD, Nov 27 (APP): Buying more liquefied natural gas (LNG) sans recovering full cost could prove reckless, besides creating circular debt, said a spokesman of Petroleum Division on Friday while responding media allegations of LNG imports on ‘selected data.’ Clarifying the allegations, he said, LNG is not gas as per law, “government can only buy… Continue reading Buying more LNG sans recovering full cost may create circular debt: Spokesman

Local POL production increase by 2.75% in Q1

ISLAMABAD, Nov 15 (APP): Overall production of petroleum commodities has witnessed an increase of 2.75 percent during the first quarter (Q1) of financial year 2020-21 as compared to corresponding period of 2019-20. POL products that showed positive growth include Kerosene Oil the production of which increased by 35.35 percent during the period under review, Pakistan… Continue reading Local POL production increase by 2.75% in Q1

ECC forms committee to resolve circular debt issue

ISLAMABAD, Nov 4 (APP):The Economic Coordination Committee (ECC) of the cabinet Wednesday formed a committee to prepare a proposal on modalities for clearing the circular debt of the Petroleum Division. The committee was constituted during the ECC meeting chaired by Adviser to the Prime Minister on Finance Dr. Abdul Hafeez Shaikh here. The committee would… Continue reading ECC forms committee to resolve circular debt issue

PM for technology use in oil, gas sectors to avoid wastage, reduce prices

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ISLAMABAD, Oct 2 (APP): Prime Minister Imran Khan Friday called for utilizing technology in the oil and gas sector to reduce prices and increase foreign exchange through plugging the wastage by doing away with the traditional methods. Chairing a meeting to discuss the enhancement of exploration, and discovery of oil and gas in the country,… Continue reading PM for technology use in oil, gas sectors to avoid wastage, reduce prices

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