xiaahmad
Chief Minister (5k+ posts)
Deal between India and Qatar is at 12.66% of BRENT OIL
Deal between Pakistan and Qatar is at 13.37% of Brent oil (ACCORDING to wat Gov claims still documents not available)
PMLN gov also trying to fool ppl as they have shiffted ship port cost to PSO rather than qatargas to show the low price
BUT % of Brent India got better deal than Pakistan 12.66% vs 13.37% (gov claim)
In Pakistan other companies gave Pakistan LNG even as low as 11.89%
Gunvor to supply LNG at 12pc of Brent prices
KARACHI: The Swiss-based trading house Gunvor will supply liquefied natural gas (LNG) to state-run Pakistan State Oil (PSO) at prices equivalent to 12.27 percent of average Brent rates for August, 11.8996 percent for September and 11.9163 percent for October, sources said on Monday.
PSO has awarded the supply contracts to Gunvor in a recently issued tender in which all other participants were disqualified. PSO launched a tender to buy four cargoes in May. After receiving the bids, it disqualified EDF, Excelerate, Glencore, Gas Natural Fenosa, Marubeni, Trafigura and Vitol for non-compliance reasons.
Gunvor will supply 143,000 cubic meters of LNG each for August, September and October 2015, Shahid Islam, managing director at PSO told The News.
“The tender was issued and processed as per the PPRA (Public Procurement and Regulatory Authority) rules and the contract was awarded (to Gunvor) accordingly,” said Islam.
Media reports say Gunvor recently reloaded a cargo from Spain and may use these to supply Pakistan.
It may be recalled that Pakistan has already received five consignments of LNG, which Engro Elengy’s floating storage and regasification unit terminal Exquisite carried from Qatar to Port Qasim Terminal.
On the urgency of issuing tender for LNG supply for July, Islam informed that the company had received two bids for this.
The latest tender from Pakistan for two cargoes for July is expected to be awarded to Trafigura, traders said, although results are not expected to be officially announced until Wednesday.
Earlier this week, Trafigura had bought a cargo from Australia’s Pluto export plant for delivery into its newly acquired storage capacity at Singapore’s import terminal in mid-July. The trading house is also set to pick up a cargo from Britain’s Isle of Grain import terminal, which was sold to it by British utility Centrica.
Additionally, PSO invited bids from the interested parties for the supply of 12 consignments of 50,000 metric tons of motor gasoline each in August, September and October.
According to the details, two such consignments need to be delivered in August, five each in September and October.
The oil marketing company also invited bids for the supply of 60,000mt of low sulphur furnace oil in September and two of the same volume each in October.
http://www.thenews.com.pk/print/49833-gunvor-to-supply-lng-at-12pc-of-brent-prices
Even ENOC offered Pakistan LNG at 13% of Brent
ENOC offers LNG on 13 % of Brent price: TI Pakistan
Emirates National Oil Company (ENOC) has offered Liquefied Natural Gas (LNG) for five (5) years only at 13 percent of Brent crude oil price,
Emirates National Oil Company (ENOC) has offered Liquefied Natural Gas (LNG) for five (5) years only at 13 percent of Brent crude oil price, under a government-to-government deal, says Transparency International Pakistan. Last month, in a meeting with the Prime Minister Nawaz Sharif, the officials of ENOC made the offer in presence of the Finance Minister Ishaq Dar and Petroleum and Natural Resources Minister Shahid Kahqan Abbasi. They offered a lucrative deal to the PM with a 60-day credit.
Transparency International Pakistan says that the government of Pakistan needs to accept the offer as G2G deals are allowed under the Pakistan Procurement Rules Act (PPRA) and has also been recommended by consultants to Ministry of Petroleum, who expects a further drop in LNG prices as shale gas from Australia is expected in 2018. The letter written by chairman Transparency International Pakistan Sohail Muzzaffar with copies to chairman NAB and others says:
"Transparency International Pakistan refers to PSO reply dated 17.12.2015 of our letter dated 8.12.2015, on the complaint that PSO in order to circumvent the PPRA Rules is to award 15 years LNG import contract to Qatargas at 14% of Brent, which has been negotiated by you in Qatar. PSO has tendered for 5 years LNG import, which is going to open on 10th of December 2015.
Another complaint is received that PSO has negotiated with Qatar Gas the 15 years deal with Qatar Gas at 13.95% of Brent, which has been rejected by ECC on 26.11.2015, not being a G to G treaty. The complainant has also made following allegations on PSO and Ministry of Petroleum;
1. The first four-six cargoes of the re-gasified LNG were imported by PSO on the basis of what a Sindh government official said an "executive order" of the Ministry of Petroleum. A highly-placed official at OGRA confirmed that at least four initial LNG cargoes were brought in without issuing a regular tender under PPRA rules, which has also been objected by PGRA.
2. The Evaluation Report of two tender LNG cargoes of May 2015, and September 2015 in Violation of PPRA requirements are not posted on PPRA website, nor on PSO website.
3. Due to dubious role of PSO by declaring that LNG deal with Qatar Gas has been finalised, serious bidder did not participated in the PSO 5-year tender, in which M/s Gunvor was declared lowest bidder at 13.36% of Brent.
4. In order to facilitate Pakistan Government of UAE delegation of Emirates National Oil Company ENOC has visited Pakistan last month and in a meeting held with the Prime Mister, Finance Minister and Finance Minister, and offered a most lucrative G-to-G deal of LNG at less than 13% of Brent, and also offered a 60 days credit.
In view of above complaint, clarification of PSO vide letter dated 17.12.2015, and Ogra decision of RLNG price determination dated 7.10.2015, following are TI Pakistan's observations.
A. PSO procurements of LNG without tenders and even on single bid are mis-procurement under PPRA Rule 50.
B. PSO and Qatargas deal of 15 years is illegal and amounts to mis-procurement under PPRA Rule 50.
C. ENOC LNG offer of G-to-G deal between Ministry of Petroleum Pakistan and UAE Government of less than 13% of Brent, with 60 days deferred payment may be processed for 5 years only, which will be compliant to PPRA rules, as well as with recommendations of MoP Consultants for short-term agreement in view of huge shale export for Australia in 2018 at lower costs."
http://www.brecorder.com/top-storie...lng-on-13-percent-of-brent-price-ti-pakistan/
Deal between Pakistan and Qatar is at 13.37% of Brent oil (ACCORDING to wat Gov claims still documents not available)
PMLN gov also trying to fool ppl as they have shiffted ship port cost to PSO rather than qatargas to show the low price
BUT % of Brent India got better deal than Pakistan 12.66% vs 13.37% (gov claim)
In Pakistan other companies gave Pakistan LNG even as low as 11.89%
Gunvor to supply LNG at 12pc of Brent prices
KARACHI: The Swiss-based trading house Gunvor will supply liquefied natural gas (LNG) to state-run Pakistan State Oil (PSO) at prices equivalent to 12.27 percent of average Brent rates for August, 11.8996 percent for September and 11.9163 percent for October, sources said on Monday.
PSO has awarded the supply contracts to Gunvor in a recently issued tender in which all other participants were disqualified. PSO launched a tender to buy four cargoes in May. After receiving the bids, it disqualified EDF, Excelerate, Glencore, Gas Natural Fenosa, Marubeni, Trafigura and Vitol for non-compliance reasons.
Gunvor will supply 143,000 cubic meters of LNG each for August, September and October 2015, Shahid Islam, managing director at PSO told The News.
“The tender was issued and processed as per the PPRA (Public Procurement and Regulatory Authority) rules and the contract was awarded (to Gunvor) accordingly,” said Islam.
Media reports say Gunvor recently reloaded a cargo from Spain and may use these to supply Pakistan.
It may be recalled that Pakistan has already received five consignments of LNG, which Engro Elengy’s floating storage and regasification unit terminal Exquisite carried from Qatar to Port Qasim Terminal.
On the urgency of issuing tender for LNG supply for July, Islam informed that the company had received two bids for this.
The latest tender from Pakistan for two cargoes for July is expected to be awarded to Trafigura, traders said, although results are not expected to be officially announced until Wednesday.
Earlier this week, Trafigura had bought a cargo from Australia’s Pluto export plant for delivery into its newly acquired storage capacity at Singapore’s import terminal in mid-July. The trading house is also set to pick up a cargo from Britain’s Isle of Grain import terminal, which was sold to it by British utility Centrica.
Additionally, PSO invited bids from the interested parties for the supply of 12 consignments of 50,000 metric tons of motor gasoline each in August, September and October.
According to the details, two such consignments need to be delivered in August, five each in September and October.
The oil marketing company also invited bids for the supply of 60,000mt of low sulphur furnace oil in September and two of the same volume each in October.
http://www.thenews.com.pk/print/49833-gunvor-to-supply-lng-at-12pc-of-brent-prices
Even ENOC offered Pakistan LNG at 13% of Brent
ENOC offers LNG on 13 % of Brent price: TI Pakistan
Emirates National Oil Company (ENOC) has offered Liquefied Natural Gas (LNG) for five (5) years only at 13 percent of Brent crude oil price,
Emirates National Oil Company (ENOC) has offered Liquefied Natural Gas (LNG) for five (5) years only at 13 percent of Brent crude oil price, under a government-to-government deal, says Transparency International Pakistan. Last month, in a meeting with the Prime Minister Nawaz Sharif, the officials of ENOC made the offer in presence of the Finance Minister Ishaq Dar and Petroleum and Natural Resources Minister Shahid Kahqan Abbasi. They offered a lucrative deal to the PM with a 60-day credit.
Transparency International Pakistan says that the government of Pakistan needs to accept the offer as G2G deals are allowed under the Pakistan Procurement Rules Act (PPRA) and has also been recommended by consultants to Ministry of Petroleum, who expects a further drop in LNG prices as shale gas from Australia is expected in 2018. The letter written by chairman Transparency International Pakistan Sohail Muzzaffar with copies to chairman NAB and others says:
"Transparency International Pakistan refers to PSO reply dated 17.12.2015 of our letter dated 8.12.2015, on the complaint that PSO in order to circumvent the PPRA Rules is to award 15 years LNG import contract to Qatargas at 14% of Brent, which has been negotiated by you in Qatar. PSO has tendered for 5 years LNG import, which is going to open on 10th of December 2015.
Another complaint is received that PSO has negotiated with Qatar Gas the 15 years deal with Qatar Gas at 13.95% of Brent, which has been rejected by ECC on 26.11.2015, not being a G to G treaty. The complainant has also made following allegations on PSO and Ministry of Petroleum;
1. The first four-six cargoes of the re-gasified LNG were imported by PSO on the basis of what a Sindh government official said an "executive order" of the Ministry of Petroleum. A highly-placed official at OGRA confirmed that at least four initial LNG cargoes were brought in without issuing a regular tender under PPRA rules, which has also been objected by PGRA.
2. The Evaluation Report of two tender LNG cargoes of May 2015, and September 2015 in Violation of PPRA requirements are not posted on PPRA website, nor on PSO website.
3. Due to dubious role of PSO by declaring that LNG deal with Qatar Gas has been finalised, serious bidder did not participated in the PSO 5-year tender, in which M/s Gunvor was declared lowest bidder at 13.36% of Brent.
4. In order to facilitate Pakistan Government of UAE delegation of Emirates National Oil Company ENOC has visited Pakistan last month and in a meeting held with the Prime Mister, Finance Minister and Finance Minister, and offered a most lucrative G-to-G deal of LNG at less than 13% of Brent, and also offered a 60 days credit.
In view of above complaint, clarification of PSO vide letter dated 17.12.2015, and Ogra decision of RLNG price determination dated 7.10.2015, following are TI Pakistan's observations.
A. PSO procurements of LNG without tenders and even on single bid are mis-procurement under PPRA Rule 50.
B. PSO and Qatargas deal of 15 years is illegal and amounts to mis-procurement under PPRA Rule 50.
C. ENOC LNG offer of G-to-G deal between Ministry of Petroleum Pakistan and UAE Government of less than 13% of Brent, with 60 days deferred payment may be processed for 5 years only, which will be compliant to PPRA rules, as well as with recommendations of MoP Consultants for short-term agreement in view of huge shale export for Australia in 2018 at lower costs."
http://www.brecorder.com/top-storie...lng-on-13-percent-of-brent-price-ti-pakistan/
Last edited by a moderator:
