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Month: December 2024

OGDCL Revives and Enhances Oil Production from Pasakhi-5 Well in Hyderabad, Sindh

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crude oil

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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OGDCL Boosts Oil Production with Revived Well in Hyderabad

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Oil and Gas Development Company Limited (OGDCL), Pakistan’s largest exploration and production company, has significantly enhanced oil output by reviving its Pasakhi-5 well in Hyderabad district, Sindh. In a notice to the Pakistan Stock Exchange (PSX), OGDCL announced that the Pasakhi-5 well, part of the Pasakhi Development & Production Lease where it holds a 100% working interest, has undergone a…

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Sapphire Electronics Partners with Samsung for Local Production in Pakistan

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New-Samsung

KARACHI: Sapphire Electronics (Pvt) Limited, a subsidiary of Reliance Cotton Spinning Mills Limited (RCML), has announced a strategic partnership with Samsung Electronics to locally manufacture, assemble, and sell Samsung-branded electronic products and home appliances in Pakistan. The announcement, disclosed in a notice to the Pakistan Stock Exchange (PSX) on Monday, stated: “Sapphire Electronics (Pvt) Limited, a wholly owned subsidiary of…

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SNGPL Clarifies Gas Curtailment Claims

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SNGPL-Office

ISLAMABAD: In response to recent reports regarding gas field closures in favor of imported RLNG and alleged economic losses, Sui Northern Gas Pipelines Limited (SNGPL) has issued a clarification refuting key points in the published story titled “Local Gas Cuts Cause $194m Loss to Economy in 4 Months.” SNGPL stated that the indigenous gas fields were temporarily closed only in…

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Gas Pipeline Sabotage Halts Supply to Upper Balochistan and Quetta

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iranian gas

ISLAMABAD: A sabotage attack by unidentified miscreants severely damaged an 18-inch diameter gas pipeline of Sui Southern Gas Company (SSGC) near Akhtarabad, Quetta, disrupting gas supplies to Upper Balochistan and Quetta City. According to an initial report from the Bomb Disposal Squad, the pipeline near the Western Bypass was targeted, causing significant damage. SSGC’s technical teams promptly responded to extinguish…

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Ministry Urged to Expedite Approval of Revised PC-1 for 2,160MW Dasu Project

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Dasu-Dam

ISLAMABAD: The Ministry of Economic Affairs (MoEA) has called on the Ministry of Water Resources (MoWR) to fast-track the submission and approval of the revised PC-1 for the 2,160MW Dasu Hydropower Stage-1 project. This step is critical to ensuring the timely signing and implementation of the loan and financing agreements, as per sources in the Economic Affairs Division (EAD). During…

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Russian LPG Prices Plummet by Half Amid Sanctions

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lpg

MOSCOW: Domestic liquefied petroleum gas (LPG) prices in Russia dropped sharply in December, halving compared to the previous month, due to a surge in supply following European Union sanctions that curbed exports, according to Reuters calculations. The EU sanctions on Russian LPG, effective December 20, were driven by proposals from Poland, historically one of Russia’s largest LPG importers. LPG, comprising…

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Democracy thrives on dialogue: if dialogue can be initiated with an enemy country, why not with the perpetrators of May 9, says Murad Shah

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murad-ali-shah

KARACHI (Dec 25): Sindh Chief Minister Syed Murad Ali Shah stated that democracy thrives on dialogue, if we can engage in dialogue with an enemy country, then we should also engage with those involved in the May 9 incident, as we see them as Pakistani citizens. “It is important to address those who have been misled and help them change…

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Growatt Earns Top Brand PV Awards Across 15 Global Markets in 2024

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growatt-news

Growatt, a global leader in solar energy solutions, has once again solidified its position as a reliable and reputable brand in the renewable energy sector by winning the prestigious Top Brand PV Awards 2024 from EUPD Research. The company received this esteemed recognition in 15 markets, including South Africa, Africa, Nigeria, Mexico, Colombia, Brazil, Italy, UK, India, Pakistan, Poland, Netherlands,…

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Gold prices see major decline in Pakistan

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gold price

The price of 24-karat per tola gold decreased by Rs800 and was sold at Rs272,600 on Tuesday against its sale at Rs273,400 the previous day. The price of 10-gram 24-karat gold also decreased by Rs685 to Rs233,711 from Rs234,396 whereas that of 10-gram 22-karat gold declined to Rs214,235 from Rs214,863, the All Sindh Sarafa Jewellers Association reported. The prices of…

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