AGL 40.10 Increased By ▲ 0.07 (0.17%)
AIRLINK 127.60 Decreased By ▼ -0.10 (-0.08%)
BOP 6.66 Increased By ▲ 0.05 (0.76%)
CNERGY 4.46 Decreased By ▼ -0.14 (-3.04%)
DCL 8.75 Decreased By ▼ -0.04 (-0.46%)
DFML 41.21 Decreased By ▼ -0.37 (-0.89%)
DGKC 86.23 Increased By ▲ 0.44 (0.51%)
FCCL 32.60 Increased By ▲ 0.11 (0.34%)
FFBL 64.26 Increased By ▲ 0.23 (0.36%)
FFL 11.61 Increased By ▲ 1.06 (10.05%)
HUBC 112.35 Increased By ▲ 1.58 (1.43%)
HUMNL 14.88 Decreased By ▼ -0.19 (-1.26%)
KEL 5.05 Increased By ▲ 0.17 (3.48%)
KOSM 7.36 Decreased By ▼ -0.09 (-1.21%)
MLCF 40.40 Decreased By ▼ -0.12 (-0.3%)
NBP 61.12 Increased By ▲ 0.07 (0.11%)
OGDC 193.83 Decreased By ▼ -1.04 (-0.53%)
PAEL 26.81 Decreased By ▼ -0.70 (-2.54%)
PIBTL 7.25 Decreased By ▼ -0.56 (-7.17%)
PPL 152.80 Increased By ▲ 0.27 (0.18%)
PRL 26.15 Decreased By ▼ -0.43 (-1.62%)
PTC 16.09 Decreased By ▼ -0.17 (-1.05%)
SEARL 84.87 Increased By ▲ 0.73 (0.87%)
TELE 7.66 Decreased By ▼ -0.30 (-3.77%)
TOMCL 36.10 Decreased By ▼ -0.50 (-1.37%)
TPLP 8.77 Increased By ▲ 0.11 (1.27%)
TREET 16.78 Decreased By ▼ -0.88 (-4.98%)
TRG 63.25 Increased By ▲ 4.63 (7.9%)
UNITY 28.25 Increased By ▲ 1.39 (5.17%)
WTL 1.33 Decreased By ▼ -0.05 (-3.62%)
BR100 10,093 Increased By 92.5 (0.93%)
BR30 31,206 Increased By 203.9 (0.66%)
KSE100 94,717 Increased By 525.1 (0.56%)
KSE30 29,401 Increased By 199.7 (0.68%)

LPG marketing companies have alleged that senior officials of Oil and Gas Development Company Limited (OGDCL) have favoured some LPG marketing companies in upliftment of LPG from two major fields: Bobi and Kunner, Business Recorder has learnt reliably.
Sources said that LPG companies had succeeded in securing LPG quota from Bobi and Kunner fields on 'signature bonus basis' through bidding process. OGDCL earned Rs 367 million revenue on account of 'signature bonus' on sale of LPG from these fields. OGDCL has allotted 5 metric tons per day LPG to each LPG Company. "But now OGDCL senior officials have begun violating their commitment as some LPG marketing companies are getting more LPG and some companies are being given less," sources maintained.
LPG marketing companies have alleged that ODGCL management was not fulfilling its commitments to provide LPG as per the agreement subsequent to receiving million of rupees on account of signature bonus. OGDCL received Rs 217 million revenue as a result of signature bonus on sale of LPG from Kunner field and Rs 150 million from Bobi field. The companies, which got LPG from Kunner field on signature bonus include Foundation Gas, POL, OK GAS, Mehran, SHV, GASMAN and Muhammadi Gas. OGDCL has a total of 14 lots on Bobi field out of which 6 lots have been sold to five LPG companies which are Fon Gas, Qureshi Gas, POL, OPI and SHV.
Some companies have challenged sale of LPG through signature bonus and are in litigation against OGDCL. Sources said that OGDCL has received joint offer by eleven LPG marketing companies to ink an 'out of court' settlement based on upfront fee instead of signature bonus. But OGDCL has stated that the deal will be in line with the interest, rules and regulations of the company and as per orders of court regarding the pending cases.
Temporary upliftment of LPG from Bobi field was allowed to these companies by OGDCL after deregulation against advance payment and no sale agreements were executed. Petroleum Minister Syed Naveed Qamar after assuming charge directed the company to conduct bidding for the sale of LPG which led these companies to go to court.
The bids were invited for sale of LPG to marketing companies on signature bonus basis in the press on August 31, 2009 and the tender documents were purchased by 59 companies. As many as 24 companies submitted bids for Bobi and 19 bids for Kunner oil field. The bids were not opened as per the orders passed by Sindh High Court.
Court amended stay order on December 17, 2009 and held that OGDCL may go ahead with bidding process while the temporary quota available to petitioners will be preserved until final adjudication for the writ petition. Bids were opened on December 29, 2009. The LPG companies that offered 'out of court' settlement deal include Aftab Traders PVT.LTD, Agha Gas Co PVT LTD, Balochistan Minerals, Cress, Gasman PVT, Links International, Muhammadi Gas, Noor LPG, Petroleum Gas, Power Gas Pvt, Ltd, Ravi Gas Pvt, Ltd and Synergy Pvt Ltd.

Copyright Business Recorder, 2010

Comments

Comments are closed.