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Day: July 8, 2024

OGDCL Successfully Optimizes Production at Kunnar-11 Well in Hyderabad, Sindh

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ogdcl

ISLAMABAD, July 08, 2024: Oil and Gas Development Company Limited (OGDCL) on Monday announced the successful revitalization of the Kunnar-11 well, located in Hyderabad, Sindh. Utilizing advanced production optimization techniques, the well is now producing 960 barrels of oil per day.The production optimization drive underscores OGDCL’s commitment to enhancing oil production through modern recovery methods. The Kunnar-11 well, part of…

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Azeri Firm Seeks Legislative Safeguards for Investment in Pakistan

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Petroleum

ISLAMABAD: SOCAR (State Oil Company of Azerbaijan Republic) has requested legislative guarantees from Islamabad to protect its investment in Pakistan, according to sources in the Petroleum Division. This request was highlighted during a recent meeting chaired by Minister for Planning, Development, and Special Initiatives Ahsan Iqbal, aimed at refining investment proposals for the upcoming visit of the Azerbaijani President. Prime…

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FPCCI Voices Concern Over Impact of Rising Power TariffsHike in Electricity Costs Unbearable for Public and BusinessesEconomic Strain and Protests Intensify Across Various Sectors

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power-subsidy

KARACHI: Mian Zahid Hussain, Chairman of FPCCI Advisory Board and President of the Pakistan Businessmen and Intellectuals Forum, has expressed deep concern over the recent increase in basic electricity tariffs and fixed charges, labeling them as unbearable for both the public and businesses. Hussain highlighted that the continuous rise in electricity prices is threatening livelihoods and undermining the rights of…

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$5 Billion Investment Announced for Pakistan’s Oil and Gas SectorLocal and International Firms Brief PM Shehbaz on 3-Year Exploration Plan240 Potential Sites to be ExcavatedCommittee Led by Ishaq Dar to Formulate New Policy

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Ishaq-Dar

ISLAMABAD: Local and international firms have pledged a $5 billion investment in Pakistan’s oil and gas exploration and production (E&P) sector over the next three years. This announcement was made during a meeting chaired by Prime Minister Shehbaz Sharif at PM House on Saturday. A delegation from the oil and gas sector informed the Prime Minister that the investment will…

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Interior Minister Orders FIA to Address Overbilling of Lifeline Power UsersSwift Legal Action Demanded Against Responsible Officers and StaffImmediate Redressal for Consumers Using Up to 200 Units

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free-power

LAHORE / RAWALPINDI: Responding to increasing complaints of overbilling from protected electricity consumers, Minister for Interior and Narcotics Control Mohsin Naqvi has ordered immediate legal action against the officers and staff involved in this malpractice. In a press release issued on Sunday, the minister directed all FIA directors to address the injustices faced by electricity consumers using up to 200…

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Gepco and Mepco Under Fire for Circuit Breaker Purchases from Blacklisted Firms Engineers Highlight Misconduct in Gepco and Mepco PurchasesMinistry Demands Reports from Distribution Companies

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power-fleet

LAHORE: The Ministry of Energy has expressed concern over the procurement of 132kV circuit breakers worth millions of rupees by distribution companies (Discos) from blacklisted firms via local suppliers. The ministry has directed all Discos to submit detailed reports on these transactions. This directive follows formal complaints from engineering associations within Gujranwala Electric Power Company (Gepco) and Multan Electric Power…

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