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Petroleum Minister

No new exploration made in oil and gas sector during last five years: minister

ISLAMABAD: Federal Minister for Petroleum and Natural Resources Ghulam Sarwar Khan on Wednesday said that during last five years no new exploration was made in the oil and gas sector, ARY News reported. During his speech at Energy Forum 2018 here at OGDCL Auditorium, the minister lamented that past governments have not been giving top priority to explore new oil and gas reserves in the country. The minister said that presently  Pakistan is facing a severe energy crisis, since 1960, no mega dams were constructed in the…

Saudi Arabia to provide oil on deferred payments: petroleum minister

ISLAMABAD: Federal Minister for Petroleum and Natural Resources Ghulam Sarwar Khan confirmed that Pakistan’s intends to take oil from Saudi Arabia on credit for five years. While speaking in the National Assembly on Tuesday, the federal minister said the authorities in Saudi Arabia have agreed to Pakistan’s request for oil. The statement came following reports that Pakistan has asked Saudi Arabia for a daily oil supply of of 100,000 to 200,000 barrels on deferred payments for ninety days along with other proposals.…

Increase in gas tariff not to hit middle class, says petroleum minister

ISLAMABAD: Petroleum Minister Chaudhry Ghulam Sarwar on Monday said that the government's decision to increase gas prices will not hit the common consumer as portrayed in a section of media, ARY News reported. Addressing media in the federal capital after an Economic Coordination Committee (ECC) meeting which approved hike in gas tariff, the minister explained that the government had divided consumers into three categories and domestic consumers will not be hit hard by the hike. "The consumers were previously divided…

Five new oil and gas discoveries made in Sindh: petroleum minister

ISLAMABAD: Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi on Monday said five new oil and gas discoveries have been made in Sindh. “These discoveries will lead to addition of 600 barrels a day of oil and 70 million cubic feet of gas,” he said while addressing a news conference in this regard in Islamabad. He said there had been 98 oil and gas discoveries during tenure of the present government and so far 944 million cubic feet of gas had been added to the system. Shahid Khaqan Abbasi said addition…

No gas import from Iran until lifting of sanctions: Abbasi

ISLAMABAD: Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi on Thursday said that natural gas from Iran cannot be imported until sanctions against the country are completely lifted. Responding to a point raised in the Senate, the minister said another hiccup in import of gas is that the agreement is not protected under the P-5+1. “Until these both hurdles are not removed, gas from Iran cannot be imported. Although we still honor our agreement with the neighboring country yet we also have to honor our…

Delay in LNG import causes $2 billion loss

Islamabad: Energy crisis can only be overcome due to gas imports, according to sources. The country is facing an annual loss of $2 billion because of the delay of import of LNG. “No one is ready to take a decision on LNG import projects due to courts and media,” Petroleum Minister Shahid Khaqan Abbasi said. In a seminar held by All Pakistan CNG Association, he further added that government is planning to import two billion cubic feet of gas per day (bcfd) in the next three years to minimize the energy issues. An initiative…