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Top Story
December 24, 2020
ISLAMABAD: Despite the ban on oil imports imposed by the government, it is now clear that six oil carrying vessels belonging to the private Oil Marketing Companies (OMCs) docked at Karachi Port and decanted oil during the so-called embargo.
An inquiry commission formed by the government to probe the acute shortage of petroleum products concluded that despite the OMCs’ hue and cry about the ban, the embargo is not the actual reason for the unparalleled fuel shortage in June this year.
The commission said consumers had to pay a lot for the failure of the Ministry of Energy, Petroleum Division (MoEPD). The lifting of the import ban in the end of April coincided with the gradual rise of international prices of petroleum products. The months of May and June witnessed the duplicity of certain OMCs which imported oil but hoarded or slowed down the supply to their retail outlets till the government increased the prices on June 26. General consumers, thus, w
Top Story
December 24, 2020
ISLAMABAD: Despite the ban on oil imports imposed by the government, it is now clear that six oil carrying vessels belonging to the private Oil Marketing Companies (OMCs) docked at Karachi port and decanted oil during the so-called embargo.
An inquiry commission formed by the government to probe the acute shortage of petroleum products concluded that despite the OMCs’ hue and cry about the ban, the embargo is not the actual reason for the unparalleled fuel shortage in June this year.
The commission said consumers had to pay a lot for the failure of the Ministry of Energy, Petroleum Division (MoEPD). The lifting of the import ban in the end of April coincided with the gradual rise of international prices of petroleum products. The months of May and June witnessed the duplicity of certain OMCs which imported oil but hoarded or slowed down the supply to their retail outlets till the government increased the prices on June 26. General consumers, thus, w
OGRA auditing gas cos to find actual UFG losses
Business
December 12, 2020
KARACHI: Oil & Gas Regulatory Authority (OGRA) has initiated forensic technical, commercial, and management audit of the two gas companies to determine actual unaccounted for gas (UFG) losses for indigenous as well as regasified liquefied natural gas (RLNG), separately in transmission and distribution system, an official said on Friday.
Imran Ghaznavi, the spokesperson for the OGRA confirmed the audit for both supplies on monthly and yearly basis for fiscal years 2014-15 to 2019-20 along with verification of diversion of RLNG volume by Sui Northern Gas Pipelines (SNGPL) to domestic and commercial consumers from FY 2017-18 to 2019-20.