KARACHI: The Oil and Gas Regulatory Authority (Ogra) has approved up to 191% increase in gas price for different sectors of the economy, which is expected to invite a fresh wave of inflation in the country. The regulatory authority has increased prices for different sectors of the economy including, commercial, cement, power, fertiliser and CNG fuel stations with effect from July…
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ISLAMABAD: State-run Oil & Gas Development Company Ltd (OGDCL) on Monday announced to have started drilling of first shale gas well in Hyderabad for exploration of unconventional hydrocarbon deposits. The company said in a statement that it had technically planned to drill the well, named KUC-01, in two phases. “The first well is planned to be drilled in vertical section…
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ISLAMABAD: Estimating power sector losses rising by four per cent since the financial year 2016 to 29pc, the Asian Development Bank (ADB) and the government have agreed to raise about Rs469 billion revenues through consumer tariff during the current fiscal year and shift about Rs800bn of the circular debt stock to public debt in three years. This is part of…
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GE Showcases Commitment to Powering Pakistan at Tech Conference Islamabad, December 10, 2019: GE Power hosted the Pakistan 9HA Tech Conference in Islamabad, welcoming government officials, industry experts, power plant owners and operators, consultants, and others. The event highlighted the contributions of GE’s 9HA gas turbine technology and teams in meeting Pakistan’s energy needs and strengthening community infrastructure. Access to affordable,…
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The economy is passing through tough times. Economic weaknesses, which might have remained unnoticed for long under normal circumstances and even contributed to higher economic growth rates, are coming to the fore. The addition of Liquefied Natural Gas (LNG) to the country’s energy mix was described as a game changer when electricity shortages were costing the economy two to three…
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ISLAMABAD: On the intervention by the Prime Minister Office, the power division has resolved a dispute over the signing of a formal power purchase agreement (PPA) to save Neelum-Jhelum Hydropower Company (NJHPC) from default. The Rs510 billion power project attained 969MW generation capacity in August last year and has since been providing electricity to the national grid without any payment.…
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Pakistan has offered Russia to participate in the divestment of government’s shareholding in the country’s largest state-run oil and gas explorers – Oil and Gas Development Company (OGDC) and Pakistan Petroleum Limited (PPL) – and become a strategic partner by acquiring shares. Pakistan has also asked Russia to become equity partner in Pakistan Refinery Limited (PRL), a subsidiary of Pakistan…
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KARACHI: Bulls were not only back with a vengeance but their ferocity took investors by surprise as they tossed the KSE-100 index over the 41,000-level initially before settling at 40,916.69 post second session with gains of 402.42 points (0.99 per cent). As the market opened, excited investors jostled for energy stocks with two major scrips in the sector sold like…
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Pakistan’s Energas plans to start the nation’s largest liquefied natural gas import terminal in 2021 to help meet soaring demand once it gets the green light to build the project. Energas, a consortium of large domestic users, aims to begin construction of the $140 million to $160 million facility next year, Chief Executive Officer Anser Ahmed Khan said in an interview. The project is…
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The Sindh government under CPEC projects is going to launch Thar Coal Block-IV as a national strategic project to develop coal mine, install 1320 MW coal-fired power project and produce gas, urea and diesel. This was disclosed in a meeting held under between Minister Energy Imtiaz Shaikh and CEO of UK-based company, Oracle Ms Naheed Memon in the energy department.…
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