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Site update: January 18 2019, at 17:45 PKST
Stock update: January 18 2019.

Recent Financial News about SNGP (Sui Northern Gas Pipelines Limited)

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Friday, January 11 2019

SNGPL appoints new MD
LAHORE - The deputy managing director of the Sui Northern Gas Pipelines Limited (SNGPL), Amir Tufail has been promoted and will now act as the new managing director (MD) of the company. The decision was taken in a meeting of board of directors of Sui Northern Gas Pipelines Limited (SNGPL), which was convened after Prime Minister Imran Khan fired MDs of SNGPL and SSGC over the recent gas crisis. The Board of Directors, in the meeting, has also considered and approved the resignation of Amjad Latif, the present managing director of Sui Northern Gas Pipelines Limited with effect from January 10, 2019. The Board has assigned the charge of managing director of the company to Amer Tufail for a period of 90 days or till the appointment of regular managing director, whichever is earlier. Amer Tufail was previously serving as deputy managing director at the company.
Related news categories: business company-news economic-indicators misc oilgas-exploration oilgas-marketing psx stock-exchanges
Related symbols: sngp (news stock)

MDs of SNGPL, SSGC to be removed thru BODs
ISLAMABAD - The Ministry of Energy (Petroleum Division) has initiated the process of the removal of the managing directors of Sui Southern Gas Company Limited (SSGC) and Sui Northern Gas Pipelines Limited (SNGPL) through the BODs, after the prime minister directives regarding their removal. READ MORE: $1.22 bn spent on Orange Line Metro Train project so far “The Prime Minister in a letter asked the Ministry of Energy (Petroleum Division) to remove the MDs of both the state owned sui gas companies immediately,” official source told The Nation. “On Wednesday, we have received the directives from the PM office regarding the removal of both the MDs and we have started the requisite procedure for the removal,” said the source. The PM orders has further directed to take action under the law (Company act), said the source. Amjad Latif is the MD of Sui Northern Gas Pipeline Limited while Muhammad Amin Rajput works as an acting MD of Sui Southern Gas Company Limited (SSGC).
Related news categories: business company-news economic-indicators misc oilgas-exploration oilgas-marketing psx stock-exchanges
Related symbols: sngp (news stock) ssgc (news stock)

SNGPL pipeline damage reduces gas supply
LAHORE - The Sui Northern Gas Pipelines Limited (SNGPL) has reduced supply to the industry in Punjab and Khyber Pakhtunkhwa after terrorists blew up a 24-inch diameter gas pipeline near Sadiqabad before dawn on Wednesday. The action was taken when the system suddenly lost 25 million cubic feet of gas. A massive fire caused by the blast led to suspension of supply to the compressor of the gas purification plant. The shortage of gas affected Punjab and Khyber Pakhtunkhwa and some other parts of the country. Officials said that the incident has caused a reduction of 25 million cubic feet of gas in our system. Although gas supply to domestic consumers has remained unaffected, the blast caused shortage for the industrial sector. So we have reduced gas supplies to the sector from six to four hours, SNGPL officials said.
Related news categories: business company-news economic-indicators misc oilgas-exploration oilgas-marketing psx stock-exchanges
Related symbols: sngp (news stock)

Tuesday, January 08 2019

SNGPL in action
LAHORE (PR) Sui Northern Gas Pipelines Limited’s campaign against use of compressors is in full swing. Every year during winters, the use of compressors by some consumers not only deprives other consumers of gas but also affects the overall supply of natural gas. SNGPL had initially warned consumers against the use of gas compressors through print advertisements which was followed by strict action in different cities of Punjab including Lahore where hundreds of gas connections were cut off for using compressors. According to SNGPL spokesperson, the action has been taken on increasing complaints by the consumers. The spokesperson added that the campaign against the use of compressors cannot succeed without cooperation of the consumers. Gas consumers have been requested to immediately call SNGPL helpline 1199 to report use of gas compressors.
Related news categories: business economic-indicators misc oilgas-exploration oilgas-marketing
Related symbols: sngp (news stock)

SNGPL plans crackdown on ‘illegal’ connections
ISLAMABAD - As per a strategy to bring down the unaccounted for gas ratio (UFG), the Sui Northern Gas Pipelines Company Limited (SNGPL) will remove service lines of those consumers whose gas connections are neither intact anymore nor enrolled in the monthly billing system due to certain reasons. READ MORE: Kim Jong Un makes visit to China at Beijing's invitation “Modalities of the company’s future plan in this regard are being finalized to prevent the line losses,” official sources told APP. Elaborating the future plan and efforts to control the UFG, the sources said all industrial consumers were examined once every month, while inspection of commercial and special domestic connections was carried out after three months. Removal of the service lines and the regular inspection are part of the strategy to deter increasing trend of gas theft, particularly installation of illegal connections and networks, they added.
Related news categories: business company-news economic-indicators misc oilgas-exploration oilgas-marketing psx stock-exchanges
Related symbols: sngp (news stock)

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