The Bid Opening Committee under the chairmanship of DGPC publicly opened bids for 10 Onshore Blocks for the grant of Petroleum Exploration Rights on November 30, 2023, at Petroleum House, Islamabad. Bids were received for 6 Blocks. The highest bidder for 2 Blocks is UEP (100%). POL ( 40% – operator) with JV partners PPL (30%) & OGDCL (30%) in…
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DUBAI: Nearly 200 nations agreed Thursday to launch a fund to support countries hit by global warming, in a “historic” moment at the start of UN climate talks in the oil-rich UAE. The landmark announcement came as the Emirati host of the COP28 talks declared that fossil fuels must be part of any final climate deal negotiated over the next…
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• Ask govt to take back unprecedented hike in gas tariffs• Production suspension to cause $47m per day export loss KARACHI: Industrialists in the economic nerve centre of Pakistan have announced a complete production shutdown on Monday (Dec 4) to force the caretaker government to reverse the unprecedented hikes in the gas tariffs. They estimate a per day export loss of $47…
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ISLAMABAD: The caretaker government on Wednesday raised the prices of liquefied petroleum gas (LPG) by Rs3.83 per kilogram for commercial and domestic consumers for December, citing a rise in the average dollar exchange rate. The Oil and Gas Regulatory Authority (OGRA) said in a notification that the LPG prices increased to Rs254.86 per kg from Rs251.03 in November, affecting various…
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WEB DESK: As the fortnightly review approaches, indications suggest that there will be no significant alterations in the prices of petroleum products. Notably, diesel and kerosene rates are expected to experience a slight decrease.The government is on the brink of announcing the revised petrol prices for the upcoming week. The new petrol rates in Pakistan will come into effect from…
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Minister of Energy held a meeting with leadership of SOCAR Trading in Dubai with their int’l teams from London and Geneva joining virtually. Building on the success of procurement of the LNG cargo arriving in December under the G to G framework agreement between Pakistan LNG and SOCAR, both sides agreed to further enhance the cooperation to meet Pakistan’s energy…
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Islamabad. The Oil and Gas Regulatory Authority (OGRA) in accordance with the Policy Guidelines of the Federal Government has determined the maximum price of Liquified Petroleum Gas (LPG) effective from December 1st, 2023 as under:Notified LPG Producer prices Rs. / Ton Rs / 11.8 kg CylinderDecember -2023 ( w.e.f 01-12-2023) 213,560.49 2,520.01November -2023 209,731.22 2,474.83Increase / (Decrease) 3,829.27 45.18 Notified…
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DUBAI, Nov 29 (APP): Caretaker Prime Minister Anwaar-ul-Haq Kakar on Wednesday arrived in Dubai, United Arab Emirates to attend the 28th United Nations Conference of Parties (COP-28). Minister for Justice of the United Arab Emirates Abdullah Sultan bin Awad Al Nuaimi, Pakistan’s Ambassador to the UAE Faisal Niaz Tirmizi and the Pakistani diplomatic staff welcomed the prime minister at Dubai’s…
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ISLAMABAD: The National Electric Power Regulatory Authority has issued addendum to clarify its decision about K-Electric’s tariff adjustment period. The Authority, pursuant to the judgment of the Supreme Court of Pakistan of January 19, 2023, issued its decision in the matter on October 31, 2023. Nepra reserves verdict on KE’s pleas for 20-year licences The decision was intimated to the…
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ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Wednesday agreed in principle, to allow Discos to recover additional amount of Rs 32.7 billion at the rate of Rs 3.53 per unit from their consumers for October 2023 under the garb of previous adjustments. During the public hearing a representative of CPPA-G, Naveed Qaisar stated that positive impact of FCA…
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