ISLAMABAD, August 30, 2024: Oil & Gas Development Company Limited (OGDCL) on Friday announced a significant gas condensate discovery at the Baloch-2 well, in the exploratory zone of the Sembar Formation located in the Sanghar district of Sindh. This discovery marks the first milestone in Sinjhoro Block from Sembar Formation in the Baloch Development and Production Lease (D&PL) area, under…
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ISLAMABAD, August 29, 2024: Oil and Gas Development Company Limited (OGDCL) on Thursday hosted a seminar titled “Awareness and Prevention from Corruption” organized by the National Accountability Bureau (NAB) in collaboration with the Sustainable Development Policy Institute (SDPI) at the OGDCL Head Office in Islamabad to combat corruption through increased awareness and the implementation of transparent practices.While speaking at the…
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The federal government has constituted a four-member committee to devise a strategy for the conversion of three power plants in the country set up under the China-Pakistan Economic Corridor regime from imported coal to indigenously extracted Thar coal.The notification announcing the constitution of the committee for conversion of the three independent power producers from imported coal to Thar coal has…
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ISLAMABAD: In a development that may herald some financial relief for power consumers, the National Electric Power Regulatory Authority (Nepra) has been directed to re-evaluate its previous decisions related to fuel price adjustments (FPA) and quarterly tariff adjustments (QTA). The directive, issued by a tribunal and the Islamabad High Court, pertains to 20 decisions taken by the Nepra since March…
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ISLAMABAD: In a shocking development, Iran has served its last notice on Pakistan informing that Tehran is left with no option but to move the Paris Arbitration Court in September 2024 against Pakistan for not constructing the pipeline under the IP gas project during the extended 180-day deadline, senior official sources told The News. The project has been facing a…
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New finds, rise in available reserves boost lifespan of hydrocarbon deposits. KARACHI: In a surprising turnaround, Pakistan has reversed the historical trend of depleting oil and gas reserves as it reported a 26% boost in crude oil deposits and a 2% increase in gas reserves in the six-month period ended June 30, 2024.New discoveries and an upward revision in recoverable…
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Power minister says govt negotiating new terms with independent power producers Federal Minister for Energy Awais Ahmed Khan Leghari has defended the independent power producers (IPPs), asserting that these private entities are not responsible for the rising cost of electricity in the country.“The IPP policy is not the cause of expensive electricity,” Leghari told Voice of America during an exclusive…
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ISLAMABAD: Petroleum Division is reportedly in the process of initiating a summary for approval of Reko Diq Project transaction under Inter-Governmental Commercial Transaction Act (IGCTA) 2002, in coordination with Ministry of Law and Justice, well informed sources told Business Recorder.This was revealed at a recent high level meeting held to discuss progress on issues of petroleum sector.Unconfirmed reports suggest that Saudi…
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ISLAMABAD: M/s Sapphir Electric Power Company Limited (SECL) is said to have refused to make payment of outstanding amount to Sui Northern Gas Company Limited (SNGPL) against LNG supply in May 2015 unless Nepra determines its fuel price adjustment based on OGRA’s clarification.SECL has established 225-MW (gross) with net capacity of 209-MW combined gas-fired power plant on the basis of…
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Lahore, August 24, 2024 – The highly anticipated Solar Power Conclave and Technology Excellence Awards 2024, set for August 28, 2024, in Lahore, will bring together key figures from Pakistan’s renewable energy sector. Organized by Energy Update, this event will unite industry experts, policymakers, and innovators to discuss the future of solar energy in Pakistan and to honor the outstanding…
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