New petroleum policy after cabinet expansion

[pkpatriotic]

New petroleum policy after cabinet expansion
By Hanif Khalid
Sunday, October 26, 2008

ISLAMABAD: The government will unveil new petroleum policy after expansion in the federal cabinet, Foreign Minister Shah Mahmood Qureshi told The News here on Saturday.

[B]“New petroleum policy will have far-reaching impact. New petroleum minister will draft the policy and present it in the meeting of the expanded cabinet,” [/B]said Shah Mahmood Qureshi, who also holds additional charge of the Ministry of Petroleum and Natural Resources.

“No important document including the petroleum policy is pending in my office. I am looking after all the important affairs of the Petroleum Ministry and it will not be a good thing that when a new minister takes charge of the ministry, he gets already approved petroleum policy for implementation,” he said in a special chat.

However, the minister said, all the snags in the petroleum policy of the previous rulers would be removed while framing the new policy. He said that new mechanism of allotting blocks for oil and gas exploration would be devised and offshore drilling sale system would also be included in the new petroleum policy while revolutionary changes would be introduced in the gas pricing formula.

“Chairman of the National Reconstruction Bureau Dr Asim Hussain, who has the status of a federal minister, and Secretary in-charge G A Sabri have received proposals for the new petroleum policy from all stakeholders, including the oil and gas exploration companies,” a senior official told The News wishing anonymity. “Under the new policy, the private companies will be encouraged to invest in the oil and gas sector,” he added.

The official said that new blocks would be allotted for exploration of oil and gas and new pricing formula would be included in the new petroleum policy for such blocks. He said that under the current policy, the gas price is capped at $40 per barrel oil price in the international market.

 

[pkpatriotic]

Petroleum Ministry proposes reduction in fuel prices
By Sher Baz Khan
Monday, 27 Oct, 2008

ISLAMABAD: The Ministry of Petroleum has proposed a reduction of Rs5 per litre in both diesel and petrol to the Ministry of Finance. Petroleum product prices are due to come under official review by the end of this month.

The proposal is based on the calculations of the Oil and Gas Regulatory Authority (OGRA), which is responsible for reviewing prices of petroleum products fortnightly.

The proposal has come at a time when the government is earning Rs11billion a fortnight from the petroleum development levy (PDL), a source told Dawn.

The government has kept the prices of diesel and petrol unchanged since September 15, despite the fact that international crude oil prices have fallen drastically.

The price of crude in the international market touched a new low of $60 a barrel on Monday, sliding down from over $100 a month ago.

An official told Dawn that if the government approved this proposal, it will still earn over Rs6 billion a fortnight in the form of PDL.

The government is currently earning Rs12.95 per litre from tax (PDL) on diesel and Rs30.53 a litre on petrol. This does not include the general sales tax (GST) of 16 per cent which is being collected by the Federal Bureau of Revenue (FBR).

If the GST and PDL are added, then consumers are presently paying the government Rs22 and Rs45 for diesel and petrol respectively.

According to the latest calculations of OGRA, the government is also earning PDL of Rs1.5 a litre on kerosene oil.

The Ministry of Petroleum has also proposed to slash the commissions of OMCs and dealers according to the decline in crude oil prices.

 

[pkpatriotic]

Govt slashes petrol prices by rupees 10
By Sher Baz Khan
Saturday, 15 Nov, 2008

ISLAMABAD: The government on Saturday announced Rs10 and Rs3 reduction in a litre price of petrol and diesel respectively as crude oil prices have declined by about two-thirds in the international market since striking record peaks above $147 a barrel in July this year.

The fear that a prolonged global recession could slam the brakes on energy demand globally, crude oil prices dropped below $50 a barrel on Saturday despite a decision by the Organisation of Petroleum Exporting Countries (OPEC) to cut output.

OPEC produces around 40 per cent of the world’s crude oil and has started cutting 1.5 million barrels a day from the start of this month.

A notification issued by Oil and Gas Regulatory Authority (OGRA) shows that the government has reduced petrol (premium motor gasoline) price by 13.04 per cent and diesel 4.68.

Now, petrol will be sold at Rs66.66 a litre and diesel (high speed) Rs61.14.
Price of light diesel oil (LDO) has also been cut by Rs7 (11.67 per cent) a litre. LDO will now be sold at Rs53 a litre.

In order to give relief to the people living in remote areas who are heavily depending on kerosene oil for cooking and heating purposes, the price of kerosene has been reduced by Rs5 a litre. After this decline of 8.08 per cent, a litre of kerosene will be sold at Rs56.87.

High octane blending component (HOBC) has witnessed a considerable, Rs15 decline a litre (15.62 per cent). The HOBC will be sold at Rs81.08 a litre at retail as well as directly by oil companies to consumers.

Prices of petroleum products in Pakistan are linked to the international market and are reviewed by OGRA fortnightly.

On November 1, the government had also announced a relief in petroleum prices for domestic consumers following decline in crude oil prices in the international market.

But, despite the latest decrease in prices of petroleum products, the government is still earning Rs28 per litre on petrol and Rs9 a litre on LDO by levying a tax called Petroleum Development Levy (PDL).

At present, the government is not providing any subsidy on diesel oil and has earned around Rs12billion through PDL in the last fortnight, sources told Dawn.

 

[HenrryWilson]

Petroleum coke is used as a raw material for many carbon and graphite products. These products include furnace electrodes and liners and the anodes used in the production of aluminum. Aluminum is used in the construction of just about all of our everyday appliances.
Since the 1920's, petroleum has been used as a feed stock in the production of petrochemicals. A liquid obtained from the refining of crude oil called naphtha is one of the basic feed stocks, Petrochemical feed stocks also include products recovered from natural gas, and refinery gases.
Follow The Link:lincenergy.us/

 

[HenrryWilson]

BecomePetroleum Independent - Make Biodiesel at Home...The first step to making biodiesel at home is understanding the process. Once you understands the facts of production, then it would become easy. It shouldn't be difficult to find oil to convert into biodiesel even if you have to buy it fresh because petroleum prices are exceedingly high today.
Follow The Link:lincenergy.us/

 

[pkpatriotic]

BecomePetroleum Independent - Make Biodiesel at Home...The first step to making biodiesel at home is understanding the process. Once you understands the facts of production, then it would become easy. It shouldn't be difficult to find oil to convert into biodiesel even if you have to buy it fresh because petroleum prices are exceedingly high today.
Follow The Link:lincenergy.us/

Its cool to know your interest and knowledge on Bio-diesal, I agreed with your views, that's right ......as I am working to promote it in south asia region especially in Pakistan which has very suitable climate to set-up farms of plants to be used for bio-diesal...... In fact peoples have to know..........Biodiesel is the name of a clean burning alternative fuel, produced from domestic, renewable resources. Biodiesel contains no petroleum, but it can be blended at any level with petroleum diesel to create a biodiesel blend. It can be used in compression-ignition (diesel) engines with little or no modifications. Biodiesel is simple to use, biodegradable, nontoxic, and essentially free of sulfur and aromatics.

Biodiesel is made through a chemical process called transesterification whereby the glycerin is separated from the fat or vegetable oil. The process leaves behind two products -- methyl esters (the chemical name for biodiesel) and glycerin (a valuable byproduct usually sold to be used in soaps and other products).

Mostly peoples questioned: Is Biodiesel the same thing as raw vegetable oil? I responded; defenitly NO! In fact Fuel-grade biodiesel must be produced to strict industry specifications (ASTM D6751) in order to insure proper performance. Biodiesel is the only alternative fuel to have fully completed the health effects testing requirements of the 1990 Clean Air Act Amendments. Biodiesel that meets ASTM D6751 and is legally registered with the Environmental Protection Agency is a legal motor fuel for sale and distribution. Raw vegetable oil cannot meet biodiesel fuel specifications, it is not registered with the EPA, and it is not a legal motor fuel.

Biodiesel is defined as mono-alkyl esters of long chain fatty acids derived from vegetable oils or animal fats which conform to ASTM D6751 specifications for use in diesel engines. Biodiesel refers to the pure fuel before blending with diesel fuel. Biodiesel blends are denoted as, "BXX" with "XX" representing the percentage of biodiesel contained in the blend (ie: B20 is 20% biodiesel, 80% petroleum diesel).

But now as you may also be awared about new researches showing that; Most plants being promoted as biofuels are serious weeds that should not be grown, The Weedy Truth About Biofuels report has found.

The assessment examines the weedy risks posed by 18 proposed biofuel species being touted as climate change solutions. Particularly Seven plants considered promising as biofuels are banned as noxious weeds - jatropha, spartina, castor oil plant, Chinese apple, olive, willows, and poplars.

In the report, the Invasive Species Council also recommends reforms to policy to reduce the weed risk of the emerging biofuels industry.Thus far the weed risk of biofuels has been ignored by policy makers and manufacturers yet, but its is now become contravercial
But what would you like to suggest in this regard.... and future of bio-diesal in light of stated contravercies?????