Oil and Gas Development Company Limited (OGDCL) on Thursday announced the discovery of a gas reservoir in Kohlu District of Balochistan. In a statement, the OGDCL said it had made a gas discovery at Jandran West X-1 well which is located in Kohlu District, Balochistan Province, Pakistan. Jandran West X-1 well was spudded in on 19th May 2021 as an…
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The government is set to increase the local gas tariff by 10-22 percent by November 1, 2021 as per the undertaking extended to the IMF. The Fund wants the government to reduce the circular debt in local gas sector, which has risen to Rs554 billion. In case the amount of Rs104 billion is added, which has not been recovered from…
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Awaidha Murshed Al Marar, Chairman of the Abu Dhabi Department of Energy (DoE), has said that the energy sector in the Emirate of Abu Dhabi is moving towards developing its potential, thanks to the support and directives of the wise leadership. “We aim to increase the efficiency of the energy system, secure the supplies, and contribute to preserving the environment…
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Hammad Azhar, Minister for Energy, on Thursday said the government was exploring options to swap debt for environmental protection related projects after issuing Green Bonds. He was speaking at the virtual “World Leaders’ Investment Summit”, one of the top level events of 7th World Investment Forum (WIF). Speaking on behalf of Prime Minister, the minister underscored the importance of investment…
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Rising need of petroleum and its heavy taxation leaves the common man stripped of his earnings, and renders the lives of the poor more miserable than before, but despite all these, brings in super-duper profits to the petroleum companies and revenues in trillions for the government.—Rana Bhagwandas Commission Report on Petroleum Prices submitted to Supreme Court of Pakistan in 2009…
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The augmentation and upgradation plan of transmission and distribution networks in Punjab will be submitted to the Cabinet Committee on Energy (CCoE) next week to make it loadshedding-free province by the coming summer, said sources. Under the plan, the transmission and distribution networks of both the National Transmission & Despatch Company (NTDC) and five distribution companies (DISCOs), including IESCO, LESCO,…
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Secretary Energy and Power Khyber Pakhtunkhwa, Imtiaz Hussain Shah here Thursday stressed to complete ongoing projects of energy sector within stipulated time and said that negligence and dereliction of duties shall not be tolerated. He said this in a briefing after assuming charge of Secretary Power and Energy on Thursday. He said that officials should make efforts to complete energy…
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K-Electric has requested the National Electric Power Regulatory Authority (Nepra) to increase the per unit price of electricity by Rs3.45 for the month of September. The Nepra will hear the appeal from K-Electric on November 3. If the request is approved, the increase will mean an additional burden of Rs6 billion on Karachi consumers. A day earlier, the Central Power…
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Pakistan has succeeded in securing cargoes of liquefied natural gas (LNG) from Qatar at competitive price to meet winter demand amid unprecedented surging energy costs for the consumers. “We have got most LNG cargoes in line for November, December and January period,” said Federal Minister for Energy, Hammad Azhar on Thursday. The government has been able to source LNG cargoes…
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The Senate Standing Committee on Finance has recommended to the Federal Board of Revenue (FBR) to immediately withdraw its new instructions with regard to attachment of the bank accounts for recovery of tax and intimate the chairman secretariat in this regard. The finance committee also strongly opposed mandatory condition of the corporate sector to make payments through digital payment mode.…
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