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Fuel and Energy: Pakistan


The Federal Cabinet has approved a tolling tariff of US $0.66/MMBTU for LNG services project and decided to convey it to Oil and Gas Regulatory Authority (OGRA) as policy guidelines of tariff. Sources said the Cabinet chaired by Prime Minister Nawaz Sharif was presented a summary on LNG Service Agreement (LSA) as initiated by SSGC and ETPL along with conditions proposed by the SSGC Board of Directors.

Punjab Chief Minister Shahbaz Sharif has said that Pakistan Muslim League-N government is coping with energy crisis with a national approach and commitment. He said that every moment of the nation is precious and work is being carried out on energy projects speedily and in a transparent manner. He said that country will be rid of electricity shortage under the leadership of Prime Minister Nawaz Sharif.
KP Chief Minister Pervez Khattak has said that energy crisis has become issue number one of the industries and people of his province though, he asserted, we are producing far more energy than our needs including electricity, oil and gas. He vowed it is high time for federation to review entire situation on realistic grounds so that no grain of the sense of deprivation and usurpation of rights emanate anywhere in the country but people are fully satisfied and spirit of national integrity grow with passage of time.
Finance Ministry is unlikely to pay Rs 50 billion to Pakistan State Oil (PSO) which the latter maintains is essential to enable it to continue supplying furnace oil to the power sector in the coming months, well informed sources told Business Recorder. PSO, in its recent communications with the federal government, warned that furnace oil supply to the power sector could be disrupted in days to come, in case the government did not arrange a sufficient amount to retire LCs.
The government is to regulate and cut Liquefied Petroleum Gas (LPG) prices for which modalities have been worked out, a Petroleum Ministry official said. The official said the government is not only going to regulate the commodity prices, but also plans to reduce prices by 40 percent in a bid to benefit consumers. The commodity prices will be reduced to Rs 70-80 per kg from current level of Rs 120 per kg, he added.
CNG stations will remain closed for two days in Sindh during next week; on alternate days in Karachi and other parts of Sindh. In the interest of general public and after improved gas supply position, all CNG stations will remain closed in Sindh for only two days during next week. According to the schedule announced by Sui Southern Gas Company Limited (SSGCL) here on Friday, in Karachi the CNG shutdown will be on Tuesday from 8.00 am till the same hours of Wednesday (24 hours). Second shutdown will be on Thursday from 8.00 am up to Friday 8.00 am (24 hours).
Kot Addu Power Company (Kapco) has posted earnings of Rs 5.2 billion (EPS of Rs 5.92) in 9MFY14, down 8 percent YoY as compared to Rs 5.7 billion (EPS of Rs 6.42) recorded in 9MFY13. Analysts at Shajar Capital said on Friday that the lower earnings of Kapco mainly came on the back of higher operation and maintenance cost that resulted from major overhauling of four gas turbines and one steam turbine in 2QFY14.


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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln