KARACHI: The President, SITE Association of Industry Muhammad Kamran Arbi, has condemned the recent increase in gas tariff as approved by the Economic Coordination Committee and the caretaker govt. He has demanded the caretaker Prime Minister Anwarul Haq Kakar, Federal Minister for Commerce, Industries & Production Dr. Gohar Ejaz and Minister for Energy Muhammad Ali to take back the decision…
Read MoreDay: February 16, 2024
MARI PETROLEUM COMPANY ANNOUNCES GAS DISCOVERY AT ITS MAINWAND X-1 ST-1 WELL LOCATED IN BLOCK – 28, BALOCHISTAN PROVINCE
By the grace of Almighty Allah, Mari Petroleum Company Limited (MPCL) is pleased to announce a gas discovery resulting from its exploratory efforts at Maiwand X-1 St-1 exploration well, drilled in Block 28, in Kohlu District, Balochistan Province. MPCL is the Operator of Block 28 having 95% working interest along with OGDCL as joint venture partner with 5% carried working…
Read MorePPIB Urges SBP to Settle $789 Million Outstanding Dues of IPPs
The Private Power & Infrastructure Board (PPIB) has called upon the State Bank of Pakistan (SBP) to clear the outstanding payments of $789 million owed to power projects, including those under the China Pakistan Economic Corridor (CPEC), to ensure the seamless progress and operations of these projects. Sources close to the Managing Director (MD) of PPIB disclosed this information to…
Read MoreAramco Refinery Likely to Join CPEC Framework
According to well-informed sources within the Petroleum Division, the government is considering the inclusion of the $10 billion Saudi Aramco refinery project within the framework of the China Pakistan Economic Corridor (CPEC). A meeting held on December 22, 2023, between Pakistan’s Deputy Ambassador in Beijing and key officials from Sinopec Engineering Group (SEG) discussed Aramco’s proposal to involve Sinopec as…
Read MoreGas Price Hike Hits Unprotected Consumers Hard
In line with the federal cabinet’s decision, the Oil and Gas Regulatory Authority (OGRA) has announced a significant increase in natural gas prices effective from February 1, 2024, with unprotected consumers facing the brunt of the hike. Protected consumers will experience a gradual increase in tariff slabs, ranging from Rs. 80 to Rs. 100 per Million British Thermal Units (MMBtu),…
Read MoreForeign Office Rejects International Criticism of Election Process
In response to international criticism of Pakistan’s 2024 general elections, the Foreign Office reiterated its stance, dismissing external scrutiny and labeling the polls as an internal matter. Foreign Office spokesperson Mumtaz Zahra Baloch, addressing concerns raised by countries such as the US, UK, and EU regarding the fairness and transparency of the election process, asserted that such criticism lacked constructive…
Read MoreRegulator Reduces RLNG Prices for February Due to Lower International Prices
In response to significant system losses and decreasing international prices, the Oil and Gas Regulatory Authority (Ogra) has announced a reduction in the sale price of Regasified Liquefied Natural Gas (RLNG) for Sui Southern Gas Company Ltd (SSGCL) and Sui Northern Gas Pipelines Ltd (SNGPL) for the current month, effective Feb 1. This marks the second consecutive month of decline…
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