The case of unsolved circular debts will lead to major oil crises says Parco and PSO. This is a long pending issue and government should now step up to play its role in resolving before it becomes the reason of further loss to the economy. The business recorder news item gives the details.
The country’s oil sector’s largest giants, Pak Arab Refinery Limited (Parco) and Pakistan State Oil (PSO), have warned the government of an imminent massive oil crisis due to the unresolved circular debt problem and have urged it to arrange funds for import of petroleum products, Business Recorder has learnt reliably.
Parco has urged the government to arrange funds via PSO to save it from default on account of Letter of Credits (L/Cs) for the import of crude oil. Parco revealed that its bank borrowing was rising due to non-payment of dues by PSO with Rs 145.4 billion receivables against different clients on Thursday morning.
Read more…
Oil, PSO, Pakistan, WAPDA
oil, Pakistan, PARCO, PSO
In our last post on the Synthetic Natural Gas (SNG); we discussed that LPG when mixed with air in right proportion, gives a perfect replacement for Natural Gas. While mentioning, the potential opportunities SNG can provide we said that Industries can use it as an alternate/back-up gas during the Natural Gas (NG) shutdown or curtailments times. In this post we shall discuss the importance of this alternate gas for industries and its need in the coming times.
In Pakistan, NG crisis are no different than energy crisis. Earlier we had NG shutdown hours/days only in winters, now we even have them in summers. With this happening it is easily predicted that in coming times or not thinking of far in the coming winters the NG shortage is going to get worst.
Managing Director Sui Southern Gas Company (SSGC), Dr Faiz Ullah Abbasi, has affirmed this while addressing a recent business gathering. He has said the at the problems regarding the supply of gas in the coming winter would become more serious as compared to the last year, as the demand and supply gap has started to widen.
Read more…
Energy, Gas, Infrastructure, Pakistan, SNG
government, Industries, Natural gas, OGDC, ogra, Pakistan, PARCO, SNG, SNGPL, SSGC, Sythetic
