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Petroleum Division, Ministry of Energy Profile picture
@Official_PetDiv
Jul 13, 2020 • 3 tweets • 2 min read • Read on X
1. Second meeting of think-tank was held at #PetroleumDivision under the chairmanship of Special Assistant to Prime Minister on Petroleum Mr. #NadeemBabar today. The forum includes renowned experts & professionals in the field of energy sector Image
2. The forum discussed the petroleum sector w/ prime focus on up-gradation of refineries, improvement of downstream pricing of oil sector, introduction of automation system for #oil depots & expansion of #LPG sector.
3. The forum identified & shared thoughts on key areas for policy & regulatory interventions for improvement of pricing mechanism, deregulation of #oil market, licensing of retails/petrol pumps & other challenges and role of refineries in downstream oil sector.

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More from @Official_PetDiv

Petroleum Division, Ministry of Energy Profile picture
Jul 30, 2021
[Thread] MoE-PD clarifies some facts about LNG procurement in view of various media reports on same subject & state that roughly 1/3 of our monthly LNG purchases are on "spot" basis & remaining 2/3 on long-term contract basis & in line w/ global avg for LNG importing countries
2. It is known that the "spot" LNG commodity price has spiked recently (to over $15 per MMBTU) due to a variety of supply-related issues (e.g. curtailment from Exxon's facility in Papua New Guinea) and demand-related (higher in China & Japan due to warmer weather) factors.
3. Therefore, PLL's Board was forced to accept the 4 LNG "spot" tenders (at c. $15 per MMBTU price) for September 2021; otherwise, the replacement fuel (i.e. Furnace Oil), which is even more expensive, would have resulted in September power prices higher by at least 20%
Read 10 tweets
Petroleum Division, Ministry of Energy Profile picture
Jun 29, 2021
تھریڈ: ترجمان وزارت توانائی کا ٹرمینل I کے حوالے سے اہم بیان۔

مارچ 2015میں پچھلی حکومت میں لگائے جانے والاFSRU استعمال شدہ لگایا گیا تھا اسکو2009میں تیار کیا گیا تھا اور اسکی اورہالنگ کے بعد پاکستان میں لگایا گیا تھا۔ نئےFSRU کو 15سال میں 2دفعہ صفائی اور مرمت کی ضرورت ہوتی ہے۔
2. مارچ 2021میں اینگرو کے ٹرمینل کیلئے جب ماہرین پاکستان آئے تھے اور انہوں نے اس ٹرمینل کے FSRUکا معائینہ کیا تھا تو انہوں نے اس کو پاکستان میں ناقابل مرمت قرار دیا تھا۔ اصل نقصان نئے ٹرمینل پر پرانا FSRUلگانے سے ہوا ہے جسے اب7یوم کیلئے بند کرنا پڑ رہا ہے.
3. ملک کی 70فیصد ایل این جی کی درآمدات پچھلی حکومت کے 15سالہ مہنگے معاہدوں کی مرہون منت ہے صرف 30فیصد گیس سپاٹ پر لی جاسکتی ہے جس کی قیمتیں عالمی مارکیٹ میں باقاعدگی کے ساتھ اوپر نیچے ہوتی ہیں۔ لہذا یہ کہنا کہ موجودہ حکومت مہنگی گیس خرید رہی ہے درست نہیں ہے ۔
Read 5 tweets
Petroleum Division, Ministry of Energy Profile picture
Dec 5, 2020
[Thread] Ref. media reports & analysis by media person on PR issued by this Div. on Dec, 4.This reporting clearly exposes complete lack of understanding of pricing of LNG by those who profess to be experts. Relationship btw JKM & Brent linked LNG purchase expl. as follow:
2. The PR talks about JKM swaps spreads of $5.5 USD/mmbtu on Oct. 2nd for delivery in Dec. & indicates that these spreads were only 10 cents/mmbtu less in mid-August. Nowhere did the Petroleum Division say that this was the price at which Pakistan could have bought the LNG.
3. Not knowing what JKM or Swap Spreads mean, the news report took this as admission of price at which Pakistan could have bought LNG. JKM stands for Japan Korea Marker, which is an index used for LNG trading in North Asia. Pakistan buys LNG on Brent linked basis and not on JKM.
Read 8 tweets
Petroleum Division, Ministry of Energy Profile picture
Nov 27, 2020
[Thread] Ref. media reports posing serious questions pertaining to LNG import based on 'selected data', is strongly rebutted by this Division & wud like to respond to these questions in backdrop of legal & contractual issue of LNG import, which are as follow: 👇
2. Why GoP not buying more LNG? In this regard, one must know tht since LNG is not “gas” as per law, govt. can only buy more LNG when confirmed buyers are available who will pay the full price. Otherwise, it will create a LNG circular debt...
3... LNG under contracts is Take or Pay whn a spot cargo is procured, it becomes Take or Pay. Each cargo is approx. $25 m in value. Using financial prudence, govt. is buying add. volumes above 800mmcfd of prior contracts based on demand frm Power, CNG & portion of Industry.
Read 17 tweets
Petroleum Division, Ministry of Energy Profile picture
Oct 4, 2020
1. Mr. @MiftahIsmail continues to mislead the public on LNG. The following are a few facts:

@OmarAyubKhan @AliHZaidiPTI
2. PMLN govt. set up 2 LNG terminals, where GoP has guaranteed to pay a total of USD 515,000/Day.That is $188m a year. Current govt. has approved 2 terminals from private sector of the same size, by world class companies, with NO FINANCIAL OBLIGATION of GOP.
3. Private sector will bring their own gas and sell it themselves.
The Pakistani people are smart enough to see which is in the interest of the country and which is not. Just facts.
Read 7 tweets
Petroleum Division, Ministry of Energy Profile picture
Sep 3, 2020
1. Ref. news based on the opinions/views expressed at a virtual moot organized by Think Tank at Islamabad Policy Institute attributing Govt's move to import Euro V Standard Fuel as 'premature decision', is strongly rebutted by this Division.

#PetroleumDivision #Euro5 Image
2. The main argument was built about burden on the local consumers is incorrect. In view of PSO's tender results for Euro-V,prices either equal/even ⬇️ thn Euro-II petrol prices. Therefore, no huge financial impact on public or any -tive effect on balance of payment is expected.
3. As regards absence of Euro-V compliant engines, it must be known be tht less sulfur+additives allows older engines to operate efficiently, will ensure better performance by vehicles. The relevant stakeholders in the automobile sector have also admired the GoP decision
Read 5 tweets

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