Government notifies much-awaited gas wellhead prices
Price of gas from Sui fields undergoes massive upward revision
Pressure gauges, pipes and valves are pictured at an underground gas storage facility. PHOTO: REUTERS
KARACHI:
The Oil and Gas Regulatory Authority (Ogra) has notified the much-awaited semi-annual gas wellhead price with gas coming from Sui gas fields undergoing significant revision.
The regulator has announced revised prices for 47 fields across the country, according to the notification.
OGRA sets LPG price at Rs900 per domestic cylinder
It announced new prices in dollar value for some of the wells and in rupee value for others. The revised prices lie in a range of $2.31-7.20 per million British Thermal Units (mmbtu) and Rs123.87-483.57 per mmbtu. The prices are effective from July 1 to December 31, 2017, according to the notification.
“Price of gas from Sui fields has been revised according to petroleum policy 2012, which is now equal to $2.66/mmbtu (up 112%),” Sherman Securities analyst Aftab Awan said in the brokerage house’s report.
“Daily average sale from Sui field is around 350-400mmcfd with 80 producing wells. Gas from Sui accounts for 37% of Pakistan Petroleum Limited’s (PPL) gas revenue and 22% of the overall revenue,” he added.
OGRA supports oil quality testing by independent lab
PPL, the sole commercial operator of Sui gas fields, is a listed firm at Pakistan Stock Exchange. Its share price increased 1.44%, or Rs2.42, to Rs169.58 with a volume of 751,800 shares on Wednesday.
Published in The Express Tribune, September 7th, 2017.
The Oil and Gas Regulatory Authority (Ogra) has notified the much-awaited semi-annual gas wellhead price with gas coming from Sui gas fields undergoing significant revision.
The regulator has announced revised prices for 47 fields across the country, according to the notification.
OGRA sets LPG price at Rs900 per domestic cylinder
It announced new prices in dollar value for some of the wells and in rupee value for others. The revised prices lie in a range of $2.31-7.20 per million British Thermal Units (mmbtu) and Rs123.87-483.57 per mmbtu. The prices are effective from July 1 to December 31, 2017, according to the notification.
“Price of gas from Sui fields has been revised according to petroleum policy 2012, which is now equal to $2.66/mmbtu (up 112%),” Sherman Securities analyst Aftab Awan said in the brokerage house’s report.
“Daily average sale from Sui field is around 350-400mmcfd with 80 producing wells. Gas from Sui accounts for 37% of Pakistan Petroleum Limited’s (PPL) gas revenue and 22% of the overall revenue,” he added.
OGRA supports oil quality testing by independent lab
PPL, the sole commercial operator of Sui gas fields, is a listed firm at Pakistan Stock Exchange. Its share price increased 1.44%, or Rs2.42, to Rs169.58 with a volume of 751,800 shares on Wednesday.
Published in The Express Tribune, September 7th, 2017.