ISLAMABAD, September 19, 2023: The Oil & Gas Development Company Limited (OGDCL), serving as the sole operator of the Mari East Block (100%), on Tuesday announced a significant gas discovery at the Chak 214-1 exploratory well, located in the Rahim Yar Khan district of Punjab province.Chak 214-1 well was spudded in on June 29, 2023, as an exploratory well, as…
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Interim Minister for Energy Muhammad Ali held a comprehensive meeting with a delegation of Pakistan Business Council at power Division today. Issues related to the industrial tariff and green energy options came under discussion in the meeting. The minister acknowledged the fact that the industry is the backbone of the country and to enhance its potential, the issues needs to…
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ISLAMABAD: National Electric Power Regulatory Authority (Nepra) Chairman Waseem Mukhtar on Monday said that promoting energy affordability for the export sector through regionally competitive tariffs was a critical factor in boosting economic growth in current challenging times. Addressing the Pakistan Energy Conference jointly organised by the Sustainable Development Policy Institute (SDPI) and Eventive Solutions, he said other critical factors were…
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SYDNEY: Australia’s Offshore Alliance union said on Saturday workers had begun a 24-hour strike at Chevron’s liquefied natural gas (LNG) plants in western Australia, as part of a ramp-up in industrial action that could see strikes extended until mid-October. The full strike comes after workers on Thursday escalated what had been six days of limited action. Until the end of…
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ISLAMABAD: The US dollar-indexed power generators which are mostly privately owned and foreign-funded have caused turmoil in Pakistan’s power sector. Coupled with the devaluation of the rupee, the situation highlights the potential relief that could have been attained had these projects been financed domestically. Remarkably, Re-gasified Liquefied Natural Gas (RLNG)-based power generation in foreign-funded projects proved to be the most…
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ISLAMABAD: As the IMF has linked an increase in gas tariff for allowing power consumers to pay bills in three-month instalments, the caretaker government has intensified its endeavour to finalize the natural gas price increase proposals under which high-end consumers will pay the maximum to prevent protected low-end consumers from the price shock. Background discussions with senior officials of the…
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Annual financial loss of Discos is around Rs 600 billion on account of losses and under recovery ISLAMABAD: The country’s prime intelligence agency has reportedly proposed to the government to take all relevant stakeholders on board in deciding the future of power Distribution Companies (Discos) to ensure a transparent, successful and sustainable transition, well informed sources in Finance Ministry told Business…
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ISLAMABAD: Caretaker Minister for Energy, Power, and Petroleum, Muhammad Ali, stated on Saturday that the government’s strict drive against power theft was delivering promising outcomes, and there would be no compromises in the fight against these illicit activities. In an interview with a private news channel, he emphasised that effective measures were being implemented to enhance the power supply system,…
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ISLAMABAD: State-run hydrocarbon exploration firm Oil and Gas Development Company Limited (OGDCL) is targeting to boost crude oil production to 50,000 barrels per day (bpd) to meet more consumer demand, which will help curtail imports as Pakistan is facing a dearth of US dollars. Soon after assuming charge as OGDCL Managing Director, Ahmed Hayat Lak formed a working group on…
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LAHORE: National Electric Power Regulatory Authority (Nepra) Chairman Waseem Mukhtar has said there was no other option but to take some harsh decisions to make the power sector sustainable. Talking to the media after attending an energy conference on Saturday, the power sector regulator head said the situation has reached a point where such decisions have become imperative for the…
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