ISLAMABAD (September 03, 2010): The directives by the Cabinet to remove contractual inconsistencies for the multi billion dollar Rental Power Projects (RPPs), as noted by third party audit, has been put on hold by an office memorandum (OM) signed by a Section Officer of the Cabinet Division.

ISLAMABAD (September 03, 2010): The cash strapped Pakistan State Oil (PSO) has curtailed its import of petroleum products by 50 percent for the month of September due to non-payment of outstanding by power sector companies, besides the reduction in demand of the products caused by the devastating floods.

ISLAMABAD (September 03, 2010): Rules and regulations pertaining to appointments are being flouted by Oil and Gas Development Company Limited (OGDCL) to fill two key vacant posts in legal wing, Business Recorder has learnt reliably. Sources revealed that Human Resource Committee (HRC) of OGDCL Board has approved the appointments on the posts of General Manager (GM) Legal and Manager Legal Corporate.

LAHORE (September 03, 2010): Chairman LPG Distributors Association of Pakistan Muhammad Irfan Khokhar has announced a strike on September 20 if the LPG companies do not implement the prices according to the Ogra rules. He appealed to the Federal Petroleum Minister Syed Naveed Qamar to implement the prices announced by Ogra and stop the local companies PARCO and OGDC from increasing the prices.

KARACHI (September 03, 2010): The Sui Southern Gas Company (SSGC) has been at the forefront of providing relief to the flood affected people. Almost on an instinct, SSGC implemented an elaborate relief operation that entailed setting up well-stocked relief camps and round-the-clock co-ordination of the Head Office in Karachi with all head quarters and Zonal and sub-zonal offices to cater to the affected people's urgent needs.

KARACHI (September 03, 2010): The Kot Addu Power Company Limited (KAPCO) has posted Rs 5.089 billion as profit after tax in the year ended June 30, 2010 (FY10) as compared to Rs 5.672 billion profit recorded in FY09. The company's earning per share stood at Rs 5.78 in the period under review against Rs 6.44 in the same period a year back.

KARACHI (September 03, 2010): Karachi Electric Supply Company (KESC) came under fire in a public hearing organised by National Electric Regulatory Authority (Nepra) to assess the company's demand for more tariff hike. The interveners not only severely criticised the unjustified demands of the company but also Nepra's favourable attitude towards the privately run public utility as it had previously allowed the KESC many raises in tariff which the interveners termed unexpected.

ISLAMABAD (September 02, 2010): Turkmenistan, which failed to submit third-party certification of Dauletabad gas field reserves, has now offered a new supply source, Osman/ Yolatan gas field, which has raised serious concerns in Pakistan, sources exclusively told Business Recorder. Turkmenistan gas reserves are estimated to be around 14 trillion cubic metres (TCMs).

KARACHI (September 02, 2010): Oil Marketing Companies (OMCs) on Wednesday announced to cut furnace oil price by Rs 2,340 per ton at the domestic market because of the declining trend in the global oil prices, dealers said. "All leading oil marketing companies including Pakistan State Oil (PSO) and Shell Pakistan on behalf of oil refineries have reduced the price of furnace oil," they said.

ISLAMABAD (September 02, 2010): The Attock Refinery has disputed the PSO claim in relation to a news report "Army relief operations: PSO shows inability to supply fuel" carried by Business Recorder on September 1, 2010. "The allegation that ARL has declined to allocate additional fuel supply to PSO because of its export to Afghanistan and preference to allocate to its associated company Attock Petroleum Limited (APL) is baseless and misleading."