The Career Services Office (CSO) is pleased to announce that the Oil and Gas Regulatory Authority (OGRA) is visiting LUMS to conduct an information session about the roles and functions of OGRA.
Date: October 17, 2017
Time: 06:30 pm
Venue: Auditorium A16, Academic Block, LUMS
The Federal Government established OGRA on March 28, 2002 in pursuance of the Oil and Gas Regulatory Authority Ordinance 2002. The objective of OGRA is to “foster competition, increase private investment and ownership in the midstream and downstream petroleum industry, protect the public interest while respecting individual rights and provide effective and efficient regulations.” OGRA comprises of a Chairman and three Members; Member of Gas, Member of Finance and Member of Oil who are professionals with rich experience in their respective fields.
The powers and functions of OGRA are contained in Section 6 of the Ordinance. OGRA has the exclusive power to grant licenses for regulated activities in natural gas, compressed natural gas (CNG), liquefied petroleum gas (LPG), liquefied natural gas (LNG) and oil sectors. These activities include construction of pipelines, development of transmission and distribution network, sale and storage of natural gas, installation, production, storage, transportation and marketing of CNG, LPG and LNG, laying the pipelines, establishing and operating refineries, construction and operation of storages, lube oil blending plants and marketing of petroleum products in the oil sector.
Some of the specific major functions are:
• Determination of revenue requirement and prescribed prices of natural gas utilities and notification of prescribed and consumers sale prices.
• Monitoring the pricing of petroleum products under the deregulated scenario.
• Enforcement of technical standards and specifications (best international practices) in regulated activities.