Friday, December 05 2025

SNGPL says receivables hit alarming level of Rs114.287bn
Sui Northern Gas Pipelines Limited (SNGPL) has revealed that it is facing grievous liquidity issues due to an alarming level of outstanding dues of Rs 114.287 billion against the power sector, official sources told Business Recorder. “Power plants have shown their inability to pay outstanding dues to SNGPL due to non-release of amounts by CPPA-G and requested SNGPL to take up the matter with relevant quarters for early resolution of current situation. Currently, a huge amount is receivable from power sector due to which SNGPL is facing severe financial crisis and unable to full its commitments towards upstream gas suppliers,” said General Manager (Recovery) SNGPL. According to the company, out of Rs 165.256 billion, receivables against Guddu Power stood at Rs 30.485 billion, Nandipur Rs 15.716 billion, TPS Muzaffargarh Rs 1.436 billion, GTPS Faisalabad, Rs 2.267 billion, GTPS ShahdraRs 214 million, SPS Faisalabad Rs 86 million, NGPS Multan Rs 57 million, totaling to Rs 50.261 billion against Wapda’s power plants of which Rs 14.682 billion are on account of gas charges, Rs 3.056 billion RLNG tariff actualization charges, Rs 311 million GIDC (including LPS) and Rs 32. 212 billion are LPS (gas charges).
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Oil prices head for 2% weekly gain as Fed hopes boost market, Venezuela tensions loom
WTI oil prices were heading for weekly gains of close to 2% in early trading on Friday, supported by an expected Federal Reserve interest rate cut, escalating U.S.-Venezuela tensions and stalled peace talks in Moscow. It would be a second straight week of increases. Prices were little changed at market open on Friday, with Brent crude up 6 cents, or 0.09%, at $63.32 per barrel by 0104 GMT. U.S. West Texas Intermediate was up 4 cents, or 0.07%, at $59.71 a barrel. Both contracts settled up around 1% in the previous trading session. Of economists surveyed in a November 28-December 4 Reuters poll, 82% expected a 25-basis-point interest rate reduction at next week’s Federal Reserve policy meeting. A rate cut would stimulate economic growth and demand for oil.
Related news categories: business misc oilgas-exploration oilgas-marketing

Wednesday, December 03 2025

OPEC+ members to undergo annual oil capacity audit under new plan
OPEC+ members will undergo an annual assessment of their oil production capacity starting next year for use in 2027, OPEC+ sources said, to ensure that the group sets output quotas that are more closely aligned with each country’s real capacity. This follows an agreement reached on Sunday which marks progress in resolving what has been a thorny issue for OPEC+ for years, and is expected to boost the credibility of its future production deals with investors and oil market participants. Some members such as the United Arab Emirates have increased their capacity and would like higher production targets, while others such as African members have seen declines. For others, it is politically and economically difficult to accept a lower production target and theoretical capacity. Angola quit the Organization of the Petroleum Exporting Countries in 2024 over a disagreement about its production quotas.
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Oil prices fall on weak demand as markets await Ukraine peace effort for supply signs
Oil prices fell for a second day on Wednesday as investors waited to see if peace talks in the Russia-Ukraine war could open up more supply amid wider concerns about a surplus, highlighted by rising inventories. Brent crude futures were down 13 cents, or 0.21%, at $62.32 a barrel at 0221 GMT, after falling 1.1% in the previous session. U.S. West Texas Intermediate crude lost 12 cents, or 0.20%, to trade at $58.52 a barrel, after dropping 1.2% on Tuesday. Russia and the U.S. did not reach a compromise on a possible peace deal for Ukraine after a five-hour meeting between President Vladimir Putin and U.S. President Donald Trump’s top envoys, the Russian government said on Wednesday. Oil markets are awaiting the outcome of the talks to see if a deal could lead to the removal of sanctions on Russian companies, including major oil companies Rosneft and Lukoil, that would free up restricted oil supply.
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Tuesday, December 02 2025

New OPEC+ production mechanism will help stabilise markets: KSA
A new mechanism adopted by OPEC+ to assess members’ maximum output capacity will ultimately help to stabilise markets and reward those who invest in production, Saudi Energy Minister Prince Abdulaziz bin Salman said on Monday. The OPEC+ group approved the mechanism to assess members’ maximum production capacity to be used for setting baselines from 2027, against which their output targets are set, OPEC said on Sunday. Prince Abdulaziz said the mechanism was “fair and transparent” for determining production levels. “Now we have the most detailed, the most technical, transparent approach of how we can move forward in the future in managing the market and how to attend to production”, he said. “Yesterday was probably one of the most successful days in my personal career and I am very grateful and thankful for the support of our friends in Russia,” he said during the launch of a Saudi-Russian business forum in Riyadh. The meetings on Sunday of OPEC+, which groups the Organization of the Petroleum Exporting Countries and allies led by Russia, also agreed to leave oil output levels unchanged for the first quarter of 2026.
Related news categories: business misc oilgas-exploration oilgas-marketing