DHAHRAN: Aramco’s CEO is optimistic about oil demand growth next year, despite fears over the new Covid-19 variant omicron, Arab News reported. The oil demand will be over 100 million barrels/day in 2022, reaching the pre-Covid-19 levels, Amin Nasser told Arab News during a media briefing at the company’s headquarters. On the Covid-19’s new strain, he said: “The markets … Read more
DUBAI: Saudi Arabia’s oil giant Aramco is marking the start of its development of the Jafurah unconventional gas field on November 29, 2021, Arab News reported. The Saudi-listed firm claims it to be the “largest non-associated gas field” in the kingdom. The move is part of the kingdom’s push to commercialise its unconventional resources and expand Aramco’s … Read more
KARACHI: The Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), one of the world’s most influential energy sector event, took place from November 15 to 18, 2021 in Abu Dhabi National Exhibition Centre (ADNEC), United Arab Emirates, under the patronage of the president of the United Arab Emirates, a statement said. Pakistan’s leading national oil … Read more
DUBAI: India, China, and Russia need to fully commit to reducing emissions for a global energy transition to happen quickly, US special envoy for Climate Change John Kerry said at a conference in Dubai, Arab News reported. Speaking at the Global Manufacturing and Industrial Summit, Kerry said there is “incredible movement” from global players, as well as … Read more
KARACHI: The Karachi Chamber of Commerce and Industry (KCCI) has said that it fully supports general industries’ resistance against the suspension of gas supplies, as it would not only affect their own production but would also have a severe impact on the export-oriented industries, as well because both were linked with each other and it … Read more
KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has criticised the decision of the government to suspend gas supply to non-export industries. FPCCI president Mian Nasser Hyatt Maggo expressed concern and disappointment on the government’s decision to suspend gas supply to non-export-oriented industries; which will result in the losses of billions of … Read more
TEHRAN: At least six people were injured after a fire broke out in the Oil and Gas Exploitation Company of Masjed Soleiman city in Iran’s southwestern Khuzestan province on Sunday, according to a statement by the company. In the incident, an employee of the company suffered burns injuries who was sent to Ahvaz city for … Read more
KARACHI: The Sui Southern Gas Company (SSGC) participated in the Abu Dhabi International Petroleum Exhibition and Conference, a statement said. ADIPEC is a premier energy sector event held in Abu Dhabi. It is hosted annually by Abu Dhabi National Oil Company (Adnoc). Managing Director of the SSGC, Imran Maniar said that finding new suppliers, probing … Read more
PSX remains bearish, Index losses 248.49 points KARACHI: The Pakistan equity market again observed a profit-taking session on the back of concerns regarding the ongoing joint parliament session and anticipated hike in the interest rates, dealers said on Wednesday. – JAVED MIRZA Read more Essential commodities prices on the decline: NPMC ISLAMABAD: A meeting of … Read more
ISLAMABAD: Expressing concern over the wheat crisis, Pakistan Peoples Party (PPP) Vice President Senator Sherry Rehman on Monday said this winter masses would neither have gas, nor wheat flour for cooking. “While the country struggles with a crippling gas deficit, this winter the last staple left to eat is also under threat: roti,” Sherry Rehman … Read more
The European Union said on Friday it was making progress in tackling a migrant crisis on the Belarus-Poland border after Turkey barred the citizens of three Middle Eastern countries from flying to Minsk and Russia dismissed Belarus’s threat to cut off a gas pipeline to Europe. Hundreds of migrants, mainly Kurds from the Middle East, have … Read more
RIYADH: Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman said users switching from gas to oil could account for the demand of 500,000-600,000 barrels/day, adding that the world was now waking up to the shortages in the energy sector, Arab News reported. Prince Abdulaziz said the potential switch depended on how severe winter weather would be and … Read more
RIYADH: Five North American companies are competing for a deal to sell a share of Saudi Aramco gas pipelines, Bloomberg reported. Aramco is seeking more than $15 million from this deal, which relates to one of its largest operations, a source told Bloomberg. The companies bidding for the first round of the deal are Apollo Global … Read more
TEHRAN: Iran‘s oil minister has appointed a special envoy for Iraqi affairs, a first for the Islamic republic which is seeking $5 billion in arrears from its neighbour for gas exports. The ministry’s Shana news agency said Oil Minister Javad Owji had tasked Abbas Beheshti with “endeavouring to speed up settling gas export claims.” Iraq buys gas and electricity … Read more
LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has urged the Oil and Gas Regulatory Authority (Ogra) to revise the petroleum products price fixation formula, as fortnightly change is affecting the estimated cost of doing business, a statement said on Saturday. LCCI president Mian Tariq Misbah raised the issue during a meeting with Member … Read more
KARACHI:The Oil and Gas Development Company Limited (OGDCL), being the operator of Wali Exploration Licence with 100 per cent working interest, has made a gas and condensate discovery from its exploratory efforts at Wali #01 well, which is located in Khyber-Pakhtunkhwa, a bourse filing said on Tuesday. The Wali #01 well was spudded-in on December … Read more
ISTANBUL: Turkey’s economy witnessed a 21.7 per cent growth in April-June this year as the country is recovering from the Covid-19 pandemic, but double-digit inflation remains a concern, official data showed on Wednesday. The gross domestic product (GDP) rebounded sharply in the second quarter, compared with the previous steep fall caused by the global health … Read more
US President Joe Biden‘s administration on Tuesday announced plans to open more than 80 million acres in the Gulf of Mexico for oil and gas exploration after a court ruled against the administration’s pause in leasing. The decision represents a significant step back for the White House’s ambitious climate agenda and was quickly challenged by … Read more
KARACHI: The K-Electric Limited (KEL) and Pakistan LNG Limited (PLL) have signed a gas supply agreement for the supply of 150mmcfd re-gasified liquefied natural gas (RLNG) for K-Electric’s 900MW plant at Port Qasim (BQPS-III), a government official said. Once fully operational, the $650 million, 900MW plant will bolster Karachi’s power supply, as the project is … Read more
ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has achieved a milestone by issuing licences for the construction and operation of a pipeline, being the last leg of the liquefied natural gas (LNG) supply chain, to Energas Terminal (Pvt) Limited and Tabeer Energy (Pvt) Limited, a statement said on Friday. The licences were issued under … Read more
KARACHI: The Oil and Gas Development Company Limited (OGDCL), being the operator of Wali Exploration Licence with 100 per cent working interest, has made a gas and condensate discovery from its exploratory efforts at Well Wali 01, which is located in Khyber-Pakhtunkhwa, a bourse filing said on Thursday. The well test has recovered 11.8mmscfd of … Read more
ISLAMABAD: The country’s flagship project, Pakistan Stream Gas Pipeline (PSGP), will be financed through the Gas Infrastructure Development Cess (GIDC), an official said on Monday. During a meeting of the Senate Standing Committee on Petroleum, held under the chairmanship of Senator Muhammad Abdul Qadir, Petroleum Division secretary Dr Arshad Mahmood said that this joint venture … Read more
KARACHI: The country’s overall electric power generation during FY21 surged 6.9 per cent to 130,223GWh (14,866MW), compared with 121,867GWh (13,912MW) during FY20, official data suggests. Hydel remained the major contributor in the overall generation with 30 per cent share; followed re-gasified liquefied natural gas (RLNG), 21 per cent; coal-based generation, 21 per cent; gas-based generation, … Read more
ISLAMABAD: The All Pakistan CNG Association (APCNGA) has said that allowing the private sector to import gas will ensure continued supply of cheap gas and may help the country escape the commodity crisis in the upcoming winters, a statement quoted an official, as saying, on Thursday. APCNGA Group Leader Ghiyas Paracha lauded the efforts of Special … Read more
Federal Minister for Energy Omar Ayub said that the Sindh government was not giving permission for laying of 17 km gas line. Addressing a press conference in Islamabad along with Special Assistant to the Prime Minister Nadeem Babar, Omar Ayub said that gas shortage in Sindh is currently 250 MMCFD. Omar Ayub said that this … Read more
The Petroleum Division has developed a dashboard for oil and gas exploration in Pakistan. According to the details, the Petroleum Division has taken an important step towards the Prime Minister’s Digital Pakistan Vision and has prepared a dashboard to improve and expedite the export operations in Pakistan. [embedpost id=”50366″ slug=”govt-decides-to-change-prices-of-petroleum-products-every-15-days”] A spokesman for the Ministry … Read more
OGRA has decided to increase gas prices. According to the details, as per the decision taken by OGRA, a 106.5% reduction in the price of gas as per the demand of Sui Northern has been approved. [embedpost id=”50366″ slug=”lng-prices-increased-by-0-34-per-mmbtu”] It may be recalled that Sui Northern had requested to increase the price of gas from … Read more
The Sui Southern Gas Company (SSGC) has received funds amounting to Rs 662.693 million to provide natural gas to 40 villages and localities of Balochistan province during the last five years. APP reported that The funds had been provided under the Sustainable Development Goals Achievement Programme. The villages gasification project cost was around Rs763.659 million, in … Read more
