Oil and Gas Development Company Limited (OGDCL) has announced a significant increase in its working interest in the Qadirpur Development and Production Lease (D&PL) through a farm-in agreement with KUFPEC Pakistan B.V. The energy giant disclosed this development through a notice to the Pakistan Stock Exchange (PSX) on Thursday. The move enhances OGDCL’s stake in the gas field from 75%…
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Minister for Power Awais Ahmed Khan Leghari has invited Sweden Green Fund to assist Pakistan’s small vehicles conversion into electric technology by providing technical and financial assistance. The Minister put the proposal in a meeting with Swedish Ambassador Alexandra Berg Von Linde, who called on him in Islamabad today. Elaborating about the proposal for conversion of existing fossil fuel vehicles…
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Integrated economic planning for Pakistan’s power sector requires a comprehensive approach that addresses the multifaceted challenges faced by the sector today. At its core, this planning should aim to synchronise policies, investments, and operational decisions across all segments of the power sector – generation, transmission, and distribution – while aligning them with the broader objectives of economic growth, industrial competitiveness,…
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Mari Energies Limited has issued a clarification regarding the false news circulating on social media about a fire at their Daharki plant. The company has confirmed that no such incident has occurred at any of its sites. As a responsible and transparent organization, Mari Energies assures the public and stakeholders that their operations continue to adhere to the highest safety…
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Islamabad: Efforts are underway to ease the financial burden on electricity consumers across the country. The National Electric Power Regulatory Authority (NEPRA) has proposed allowing consumers to pay their electricity bills in multiple installments within a single fiscal year. This initiative aims to address consumer difficulties while balancing the revenue requirements of distribution companies (DISCOs). NEPRA has also recommended amendments…
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Washington: Indian Foreign Minister S. Jaishankar stated during a press conference at the Indian Embassy in Washington on Wednesday that there have been no discussions on trade with Pakistan over the past year. He clarified that it was Pakistan, not India, that decided to halt trade back in 2019. Jaishankar added that India had granted Pakistan “Most Favored Nation” (MFN)…
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Jan 23 (Reuters): Solar energy has overtaken coal in the European Union’s electricity mix for the first time, according to data released by energy think tank Ember on Thursday. Solar power accounted for 11% of the EU’s electricity generation in 2024, up from 9.3% in 2023, while coal’s share fell below 10%—a historic low since Ember began tracking these figures…
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Karachi: Pakistan’s oil and gas production recorded a significant decline during the first half of the current financial year, with oil output dropping by 10% and gas production falling by 7%, according to data released on Wednesday. The decline was largely attributed to forced curtailments at major fields like Nashpa and the TAL block, driven by reduced gas demand. Key…
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Hyderabad, Sindh: The Oil and Gas Development Company Limited (OGDCL), Pakistan’s leading exploration and production (E&P) company, has significantly boosted oil production at its Kunnar Oil Field in the Hyderabad district of Sindh. In a notice to the Pakistan Stock Exchange (PSX), OGDCL announced that the production at Kunnar-12 well has increased from 1,060 barrels per day (bpd) to 1,820…
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ISLAMABAD: Pakistan is set to formally approach the International Monetary Fund (IMF) to gain consent for a planned rebasing of electricity tariffs, a move aimed at mitigating financial pressure on consumers and averting potential public protests. Previously communicated informally to the IMF, the government’s rebasing proposal seeks to address concerns over high electricity rates, which have sparked widespread dissatisfaction. The…
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