KARACHI: Oil & Gas Development Company Limited (OGDC), Pakistan’s largest exploration and production (E&P) firm, has officially started oil and gas production from its Kharo-1 well in Khairpur, Sindh. The company made this announcement in a notice to the Pakistan Stock Exchange (PSX) on Wednesday. The Kharo-1 well is currently producing 20 barrels of oil per day (bpd) and five…
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ISLAMABAD: Federal Minister for Energy, Sardar Awais Ahmad Khan Leghari, informed the National Assembly on Wednesday about significant progress in the power sector. He highlighted that the government had reviewed contracts with 28 Independent Power Producers (IPPs), leading to savings of Rs1,457 billion for the national exchequer. In response to questions during the Question-Hour session, Leghari denied reports that any…
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The Board of Directors of Wafi Energy Pakistan Limited, formerly Shell Pakistan Limited, has appointed Zubair Shaikh as interim Chief Executive Officer (CEO), effective February 1, 2025. The announcement follows Waqar I. Siddiqui’s decision to step down as CEO on January 31, 2025. The development was disclosed in a notice to the Pakistan Stock Exchange (PSX) on Wednesday, with the…
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Masdar, a global leader in renewable energy, has reaffirmed its ambitious goal of achieving 100 gigawatts (GW) of clean energy capacity worldwide by 2030. “This target highlights Masdar’s dedication to accelerating the global clean energy transition and contributing to climate neutrality,” said Fatima Al Suwaidi, Head of Development & Investment (APAC) at Masdar, during Abu Dhabi Sustainability Week 2025. Masdar’s…
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ISLAMABAD: The federal government on Wednesday announced an increase in the price of petrol by Rs3.47 per litre, bringing it to Rs256.13 per litre, and high-speed diesel (HSD) by Rs2.61 per litre, now priced at Rs260.95 per litre, for the upcoming fortnight. A press release from the Finance Division attributed the hike to fluctuations in the international oil market, though…
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ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) approved a Rs4.98 per unit refund for K-Electric (KE) consumers under November’s fuel cost adjustment (FCA), applicable in February bills. However, the regulator raised serious concerns over KE’s sustainability due to its dependence on the national grid for over 67% of its power supply. During a public hearing, Nepra member Maqsood Anwar…
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DOHA: Palestinians celebrated on Wednesday as a ceasefire agreement between Israel and Hamas was announced, set to take effect on Sunday. Brokered by the United States and Qatar, the deal also includes a phased hostage and prisoner exchange after 15 months of conflict. Qatar’s Prime Minister, Sheikh Mohammed bin Abdulrahman Al-Thani, confirmed the agreement, expressing hope for a permanent peace.…
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