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In this file photo, Texas-based Excelerate Energy’s ship is seen next to Exquisite. The former conducted the 100th ship-to-ship (STS) transfer of LNG at the Engro Elengy Terminal at Port Qasim.
ISLAMABAD: Overriding all objections from some private companies, the Oil & Gas Regulatory Authority (Ogra) on Tuesday granted marketing licences to Energas and Tabeer Energy for sale of regasified-liquefied natural gas (RLNG) to their customers.
The licences would be valid for 10 years, starting Jan 8, 2021. Both applicants are stated to have their own customers in the private sector and would arrange LNG imports without any liability to the government by utilising pipeline network of gas utilities. Initially, they plan to also utilise spare capacity of the LNG re-gasification terminals.
Advanced Petrochemicals Q4 net profit slips 2.1%
RIYADH, January 11, 2021 Saudi Arabia’s Advanced Petrochemicals has posted a net profit of SR180 million ($47.9million) in the fourth quarter (Q4) of the year, as against SR192 million in Q4 2019, marking a fall of 2.1%, a report said. The company earned a revenue of SR632 million during the period, as against SR 618 million during the corresponding period in 2019, said Al Rajhi Capital, a leading financial services provider in the kingdom. Higher-than-expected COGS and SG&A costs due to seasonality factors are likely to have pushed gross and operating profits slightly below estimates, the report said.