Islamabad, July 01, 2024: The Oil and Gas Regulatory Authority (OGRA) has notified the maximum Price of LPG, effective July 01 2024, as under; 2. The LPG price Notification for the month of July 2024 is readily available at OGRA website www.ogra.org.pk. 3. The LPG producer price is linked with Saudi Aramco-CP and US$ dollar exchange rate. As compared to…
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ISLAMABAD, July 01, 2024: Oil and Gas Development Company Limited (OGDCL) on Monday announced the successful revitalization of the Nashpa-4 well, situated within the Nashpa Development and Production Lease (D&PL) in Karak, Khyber Pakhtunkhwa province.OGDCL thoroughly re-evaluated the well for the potential of the upper zone of the Lockhart formation and achieved a significant increase in the well’s production capacity.…
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KARACHI: The Pakistan Petroleum Dealers Association (PPDA) has announced a nationwide strike on July 5 in protest against the government’s imposition of a 0.5% advance turnover tax, ARY News reported. PPDA Chairman Abdul Sami Khan stated that while talks with the government are scheduled for Monday in Islamabad, failure to reach an agreement will result in the closure of petrol…
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ISLAMABAD: Peshawar Electric Supply Company (PESCO) has alerted the federal government about the ongoing issue of unregistered FIRs against Members of National Assembly (MNAs) and Members of Provincial Assembly (MPAs) involved in the illegal energization of feeders, informed sources told Business Recorder. PESCO cautioned that the simultaneous activation of all high-loss heavy-load feeders on the same power transformers is technically…
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ISLAMABAD: The government has approached the World Bank for Non-Lending Technical Assistance (NLTA) to facilitate private sector involvement in the privatization of power Distribution Companies (DISCOs), sources informed Business Recorder. In a letter to the World Bank’s Country Director, the Economic Affairs Division (EAD) stated that the Ministry of Energy (Power Division) seeks the World Bank’s support under NLTA for…
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ISLAMABAD: Significant design flaws have been identified in the 969MW Neelum Jhelum Hydropower Project in Azad Jammu and Kashmir (AJ&K). The Pakistani government has urged the Chinese company responsible for the project to rectify these issues promptly, sources informed Business Recorder. Built at a cost of over Rs 500 billion, the project has experienced numerous delays and periodic shutdowns, with…
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ISLAMABAD: The Economic Coordination Committee (ECC), led by Federal Minister for Finance & Revenue Senator Muhammad Aurangzeb, approved the natural gas sale pricing proposals presented by the Petroleum Division. The meeting, held at the Finance Division on Sunday, included key attendees such as Petroleum Minister Musadik Masood Malik, Power Minister Sardar Awais Ahmad Khan Leghari, Minister of State for Finance…
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9% Gas Rate Increase for Industrial Captive Power Units Rs133 Billion Relief Blocked for Other ConsumersISLAMABAD: In response to the International Monetary Fund’s (IMF) demands, the government announced a 9% increase in gas rates for industrial captive power units starting July 1. Additionally, it blocked a 15% (Rs133 billion) relief in average gas rates for other consumers despite lower international…
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