Islamabad: The Power Division has announced significant achievements in the power sector, citing a decrease in electricity prices, elimination of cross-subsidies, and substantial national savings. According to a press release, the average electricity price has decreased to PKR 44.04 per unit from PKR 48.70 per unit in June 2024, marking a reduction of PKR 4.66. Industrial electricity prices have also…
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<><><><> Electricity prices witnessed RS 11.33 per unit for industrial and Rs.4.66 per unit domestic decrease since June 2024 Rs. 150 Billion eliminated in cross-subsidies for industrial sector Rs 55 billion earmarked for 27000 tubewells Agreemnets with IPPs results in Rs.411 billion national saving Bijli Sahulat Package with special tariff of Rs.26.07 per unit introduced Minister for Power, Sardar Awais…
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Mr. Imran Abbasy, Managing Director and CEO of Pakistan Petroleum Limited (PPL) met Chief Minister (CM) Balochistan Mir Sarfraz Bugti at the CM House in Quetta on October 18 to discuss crucial matters related to resource exploration and community development in the province. During the meeting, Mr. Abbasy outlined PPL’s strategic plans for hydrocarbon exploration and mining in Balochistan, including…
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KARACHI: The Management Board of Pakistan State Oil Company Limited (PSO), a leading state-owned oil marketing company, has approved the execution of a Sale and Purchase Agreement (SPA) with the State Oil Company of the Republic of Azerbaijan (SOCAR). As per a notice issued to the Pakistan Stock Exchange (PSX), PSO received the signed agreement from SOCAR on December 24.…
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BANGKOK, THAILAND – Media OutReach Newswire – 27 December 2024 – PTT Oil and Retail Business Public Company Limited (OR) is driving international growth and sustainable innovation, leveraging its diverse portfolio to navigate volatile global markets. Amid geopolitical uncertainties and fluctuating oil prices, OR has posted robust financial results and unveiled a strategic roadmap aimed at transforming its business for…
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ISLAMABAD: The World Bank has called on the government to increase budget allocations for the Tarbela 5th Extension Hydropower Project (T5HP) during the mid-year budget review, citing a significant shortfall in rupee cover requirements. In a letter to Economic Affairs Division (EAD) Secretary Dr. Kazim Niaz, World Bank Country Director Najy Binhassine commended the satisfactory progress of T5HP, despite challenges,…
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ISLAMABAD: The Late Payment Surcharge (LPS) on Gas Development Surcharge (GDS) owed by power companies to gas utilities, including PPL, MPCL, and SNGPL, has surged to an alarming Rs76.4 billion, according to a report by the Directorate General of Gas (Petroleum Division). The Gas Development Surcharge, governed by the Natural Gas (Development Surcharge) Ordinance, 1967, represents the margin between the…
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ISLAMABAD: Prime Minister Shehbaz Sharif has directed authorities to ensure uninterrupted gas supply to domestic consumers during the winter season, emphasizing it as a top government priority. The Prime Minister’s Office (PMO) issued a notice following a review meeting on the country’s gas supply. Taking note of complaints regarding reduced gas availability, the prime minister stressed the need for structural…
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NEW DELHI: Bharat Petroleum Corporation Limited (BPCL) has announced plans to invest approximately $11 billion in a state-of-the-art refinery and petrochemical complex in Andhra Pradesh, aiming to address surging fuel demand in India, the world’s fastest-growing major economy. “This is a significant opportunity for the refining sector as India’s primary energy demand is projected to grow three to four times…
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ISLAMABAD, December 26, 2024: Oil & Gas Development Company Limited (OGDCL), Pakistan’s largest exploration and production company, has successfully revived and enhanced oil production from the Pasakhi-5 well, located in Hyderabad district of Sindh. The well is part of the Pasakhi Development & Production Lease (D&PL), with OGDCL holding a 100% working interest.As part of a strategic optimization initiative, OGDCL…
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