Latest News

Friday, February 5, 2021

PLL gets lowest bid from Vitol Bahrain for April delivery

As the international market continued its downward journey, state-run Pakistan LNG Limited (PLL) has received cheaper bids for two cargoes of liquefied natural gas (LNG) for deliveries in April.

The PLL on Friday said Vitol Bahrain offered the lowest bids of 1.0522 per cent and 10.88933pc of Brent Crude Price for April 5-6 and April 19-20 delivery windows, respectively.

This is the lowest bid PLL has secured from the spot market since Sept 22-23, 2020. The LNG prices had since been on a steady increase.

The PLL bid results showed, three companies had bid for April 5-6 cargo with a price range of 11.05pc to 12.18pc of Brent. For the second cargo on April 19-20, the PLL received four bids ranging between 10.8933pc and 12.50pc of Brent. Vitol Bahrain won both bids.

At current Brent price of about $58 per barrel, both cargoes worked out at about $6.3 to $6.4 per million British thermal unit (mmBtu). The bids were invited through open tender on Dec 30, 2020.

Earlier, the PLL had received the lowest bid of 13.62pc of Brent for cargo delivery in second week of March from ENI of Italy under an urgent tendering process. The lowest bid for the 4th week of March also through urgent tender had secured 12.73pc of Brent from Qatar Petroleum.

This indicated that prices were easing out in the spot market as demand dropped over the past couple of weeks.

After many months, the spot prices are now available to Pakistan at lower than long term contract of Qatar Petroleum at 13.37pc of Brent. All spot cargos usually contain about 140,000 cubic meters of LNG or 3.2 mmBtu.

from latest-news - SUCH TV https://ift.tt/36PlM2J

PSO is expecting his first LNG cargo delivery in recent three years

PSO is expecting his first LNG cargo delivery in past three years

Pakistan State Oil (PSO) is seeking a liquefied natural gas (LNG) cargo for delivery in April through a tender after a five-year contract with commodity trader Gunvor expired in December, three industry sources told Reuters.

If awarded, this will be the state-owned company’s first spot purchase in about three years, two of the sources said.

PSO last sought spot cargoes in October, for delivery over November to January, but did not award the tender as demand had dropped amid the coronavirus pandemic and a surge in hydropower generation, one of the sources said.

“With summer approaching, which is when power generation demand usually increases, PSO will likely need more LNG,” the source said, adding that the company will probably regularly issue tenders seeking one to three LNG cargoes a month going forward.

Five-year pact with Gunvor expired in Dec 2020

The company has no immediate plans to sign another mid-term contract though there are discussions in place with potential suppliers, and plans to focus on the spot market instead, the source said.

“There’s been a lot of turbulence in (prices) recently, so PSO is a bit cautious of signing longer-term deals,” the source added.

Asian spot liquefied natural gas (LNG) prices fell for a third week as a warmer season approaches in the northern hemisphere, reducing the heating demand that sent prices to a historic high last month.

The average LNG price for March delivery into Northeast Asia was estimated at around $7.20 per million British thermal units (mmBtu), traders said. That’s 80 cents lower than the previous week.

Cargos for April delivery were estimated at $6.60 per mmBtu. That’s about five times lower than the record high of $32.50/mmBtu on Jan 13.

In the latest tender, PSO is seeking the LNG cargo for delivery over April 15 to 16, according to a document seen by Reuters. The tender closes on March 2.

After five-year contract with Gunvor expired in December, PSO received extra volumes from its long-term supplier Qatar Petroleum for delivery over January to March, two sources said.

Gunvor declined to comment, while PSO did not immediately reply to an email requesting comment.

from latest-news - SUCH TV https://ift.tt/3aAZ9Ak

Punjab is planning to add 5,000MW of Power in the system by 2024

In a bid to cut down reliance on the national grid, Punjab plans to generate over 5,000MW electricity — including 300MW through launch of several small hydropower projects — under short, medium and long-term strategies by 2024. The province has also floated tenders to launch construction of 12 mini hydropower projects before June this year, Dawn has learnt.

“Save electricity for yourself and the nation is a slogan of the federal government, but we have slightly changed it for Punjab. ‘Make Electricity for yourself and the nation’ is our slogan,” Punjab Minister for Energy Dr Akhtar Malik said in a conversation with Dawn. “For this, we envision Punjab as an energy-secure province by promoting the renewable energy sector involving optimal use of indigenous resources (hydro, waste and biomass), private sector investment, timely regulatory interventions and efficient energy conservation,” Dr Malik explained.

According to a report, recently shared with the government, Punjab seeks supply of electricity to a number of off-grid villages, setting up generation facilities near load centres/clusters, oil & gas exploration, addition of 300MW solar energy at the 600MW Quaid-e-Azam Solar Park, development of identified 1,000MW wind corridor at Rajanpur, promotion of rooftop solar energy for household, solarisation of public institutes, retrofitting of public institutes and energy conservation building codes.

The province wants to utilisate hydel power potential on Punjab canals and barrages, promote waste to energy projects in urban areas, solar/biogas/wind hybrid solutions for rural electrification, biomass-based power plants in agricultural centres as well as encourage private sector to invest in power sector.

The report mentions that the Punjab Energy Department is working on three different action plans that range from short-term (0-2 years), medium-term (2-5 years) and long-term (5-10 years) in a bid to its objectives under various timelines by the year 2024.

“The government has started work to launch 50MW waste to energy project in Lahore, 100MW Zhenfa solar, 100MW Zorlu solar projects, solorisation of 4,200 schools (6.8MW) in north and south Punjab, solarisation of CM Secretariat and General Hospital in Lahore (over 3MW), Islamia University in Bahawalpur (2.5MW), 2,324 Basic Health Units (7.24MW), 12 DHQ Hospitals (5MW) and various off-grid villages (5MW), 0.550MW solar/biogas hybrid power system in Vehari and Sumandari and commercial operation of 1,263MW Punjab Thermal Power Project at Trimmu, Jhang,” the report adds .

Under the short-term plan, the government seeks to establish its own power transmission/grid company, establishment of energy efficiency and conservation agency as well as standarisation and labelling of motors and air conditioners etc.

The medium-term plan sees completion of 250MW Wind Hydropower Project in Rojhan, Rajanpur, four 120MW waste to energy projects, 135MW Taunsa Hydropower project, 170MW mini hydropower projects (18 sites) and solrisation of 1,000 villages (15MW).

Under the long-term plan, the government envisages completion of another 750MW wind power project in Rojhan, 400MW Solar Power Park each in Rahim Yar Khan and Dera Ghazi Khan and solarisation of 5,000 off-grid villages (150MW).

The government will also complete various studies related to solar, wind, biomass resource mapping of the province based on the World Bank locational studies and establishment of coal park at Rahim Yar Khan.

“Under off-grid electrification, the districts proposed for the pilot project include Dera Ghazi Khan where 905 villages would be connected with the poor distribution system, 865 villages in Bahawalpur, 365 in Layyah, 331 in Muzaffargarh, 326 in Rahim Yar Khan, 325 in Rajanpur, 286 in Lodhran, 256 in Bahawalnagar, 179 in Bhakar and 65 in Mianwali,” the report reads. “These districts have been selected because of having highest multi-dimensional poverty index in Punjab,” it further adds.

Dr Malik said the energy department was also working out various proposals to end dependency of various bulk power consuming (over 150MW) by water and sanitation agencies of Lahore, Gujranwala, Faisalabad, Rawalpindi and Multan from the national grid. Lahore WASA tops among all since it is alone consuming over 85MW electricity to keep running its tube wells for water supply to a huge population,” he said. “Lahore Orange Line train operations also consume 54MW,” he added.

The minister informed that tenders for launch of as many as 12 mini hydropower projects including 5MW Pattan have also been floated.

from latest-news - SUCH TV https://ift.tt/3ro6DNN

Pakistan recives 220 oxygen concentrators from UNICEF

The United Nations International Children’s Emergency Fund (Unicef) has handed over 220 oxygen concentrators to the Ministry of National Health Services, Regulations and Coordination for treating patients suffering from coronavirus, birth asphyxia and complicated pneumonia.

Funded by the Asian Development Bank to the tune of $331,000, the life-saving device oxygen concentrators have been shipped to seven major cities in the country, including the federal capital, for installation in public health facilities, Unicef announced on Friday.

Speaking at the handing over ceremony, Director General Health Dr Rana Muhammad Safdar thanked the ADB, Unicef and all other stakeholders who have been helping the government since the outbreak of the pandemic in the country.

Official says equipment will help manage moderately symptomatic patients

“We want to use resources such as oxygen concentrators which have been provided by the ADB and Unicef in the best possible manner to treat our people suffering from Covid-19. This equipment is invaluable and will give us the capacity to manage the moderately symptomatic patients in a much more efficient manner,” Dr Safdar said.

In addition to the initial grant of $500,000 which has been utilised for acquiring personal protective equipment (PPE) and oxygen concentrators, the ADB has also provided an additional $2 million to help Pakistan strengthen its efforts to combat the Covid-19 pandemic.

These funds will be used to acquire life-saving medical supplies, diagnostic and laboratory facilities, and other critical equipment for communities affected by the pandemic.

“Since the outbreak of Covid-19, the ADB moved swiftly to support the people and the government of Pakistan in responding to the challenge,” said ADB Country Director Xiaohong Yang.

“The provision of oxygen concentrators to health centres across the country will help save lives and support the poor and vulnerable who are particularly dependent on public sector health facilities. We will continue to work closely with Unicef and other development partners to help Pakistan overcome the challenges,” she said.

Since the outbreak of Covid-19 in Pakistan, the ADB and Unicef have been collaborating by providing funds and technical assistance in procurement of PPE and other medical supplies to counter the spread of coronavirus in the country.

“Funds from the ADB have helped us provide the most needed assistance to the government of Pakistan in its response to the Covid-19 pandemic,” said Unicef Representative to Pakistan Aida Girma.

“Realising the importance of oxygen concentrators as life-saving devices, Unicef had earlier provided 525 oxygen concentrators worth over $1 million to the ministry.

“As the largest single vaccine buyer in the world, Unicef has a unique and longstanding expertise in procurement and logistics. Besides procurement of PPE, Unicef and its Covax partners — Gavi, the Vaccine Alliance, WHO and CEPI — are now procuring Covid-19 vaccine doses as the largest vaccine procurement and supply operation in the world’s history. We are determined to help Pakistan acquire adequate Covid-19 vaccine at the earliest,” the Unicef representative said.

from latest-news - SUCH TV https://ift.tt/3tuvlhb

PPP, PML-N violating charter of democracy: Rashid

Interior Minister Sheikh Rashid Ahmed on Thursday said that both the PPP and PML-N were violating their commitment to the charter of democracy by opting for “undemocratic moves” and asked Maulana Fazlur Rehman to contest the upcoming Senate elections.

“PPP and PML-N signed the Charter of Democracy (CoD) in 2006, but now their actions are against it. Maulana Fazlur Rehman should contest the Senate elections from anywhere he wants and it will soothe and calm down his anger and stress,” Mr Rashid said while talking to reporters after a function at Government Viqarun Nisa College on the eve of Kashmir Solidarity Day.

In reply to a question, the minister said he would respond to the decision of Pakistan Democratic Movement (PDM) about the long march and no-confidence move at Lal Haveli on Friday.

About expected resignations of the members of opposition parties from parliament, he said the opposition parties would not resign from parliament and their agitation would be limited to long march and no-confidence move against Prime Minister Imran Khan.

He said those who were threatening to resign from parliament should review their decisions as resignation would not bring any change, but would create problems for democratic system.

The minister said that sit-ins and long marches could not topple governments, and gave the example of PTI’s sit-in of 2014 which had continued for 126 days.

“We, along with Imran Khan, staged the sit-in in front of the Parliament House for 126 days, but failed to topple the then Nawaz Sharif-led government,” Mr Rashid said.

He said the PTI government would complete its remaining three-year tenure and it had only one year to deliver because the fifth year would be the year of the election campaign.

“The only panacea for all problems in politics is table talks. There is no dead end in politics and democracy will strengthen through the dialogue process,” he added.

The minister said the government had tabled a new legislation in parliament to end involvement of money in the Senate elections.

He congratulated PPP leader Asif Ali Zardari on the wedding of his daughter Bakhtawar Bhutto-Zardari and prayed and expressed well-wishes for her.

Earlier, addressing the function at the Viqarun Nisa Girls College, the interior minister announced that the college would be upgraded to the status of a university this year. He also announced Rs50 million grant for the college hostel.

It will be the third women university in Rawalpindi if the college was given the status of university.

Kashmir issue

The interior minister said that the nation was united on the issue of Kashmir and it wanted the issue to be resolved in accordance with the aspirations of Kashmiris.

He urged the international community to stop human right violations in India-held Kashmir.

“The Modi government is trying to make demographic changes to the valley and it is a violation of the UN resolutions,” he said.

from Latest Pakistan News - SUCH TV https://ift.tt/39RvW4P