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MARI PETROLEUM COMPANY ANNOUNCES GAS DISCOVERY AT ITS MAINWAND X-1 ST-1 WELL LOCATED IN BLOCK – 28, BALOCHISTAN PROVINCE

Admin
mari-petrolium

By the grace of Almighty Allah, Mari Petroleum Company Limited (MPCL) is pleased to announce a gas discovery resulting from its exploratory efforts at Maiwand X-1 St-1 exploration well, drilled in Block 28, in Kohlu District, Balochistan Province. MPCL is the Operator of Block 28 having 95% working interest along with OGDCL as joint venture partner with 5% carried working…

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PPIB Urges SBP to Settle $789 Million Outstanding Dues of IPPs

Admin
ppib

The Private Power & Infrastructure Board (PPIB) has called upon the State Bank of Pakistan (SBP) to clear the outstanding payments of $789 million owed to power projects, including those under the China Pakistan Economic Corridor (CPEC), to ensure the seamless progress and operations of these projects. Sources close to the Managing Director (MD) of PPIB disclosed this information to…

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Aramco Refinery Likely to Join CPEC Framework

Admin
CPEC-IPPs

According to well-informed sources within the Petroleum Division, the government is considering the inclusion of the $10 billion Saudi Aramco refinery project within the framework of the China Pakistan Economic Corridor (CPEC). A meeting held on December 22, 2023, between Pakistan’s Deputy Ambassador in Beijing and key officials from Sinopec Engineering Group (SEG) discussed Aramco’s proposal to involve Sinopec as…

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Gas Price Hike Hits Unprotected Consumers Hard

Admin
LNG-import

In line with the federal cabinet’s decision, the Oil and Gas Regulatory Authority (OGRA) has announced a significant increase in natural gas prices effective from February 1, 2024, with unprotected consumers facing the brunt of the hike. Protected consumers will experience a gradual increase in tariff slabs, ranging from Rs. 80 to Rs. 100 per Million British Thermal Units (MMBtu),…

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Foreign Office Rejects International Criticism of Election Process

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Foreign-Office

In response to international criticism of Pakistan’s 2024 general elections, the Foreign Office reiterated its stance, dismissing external scrutiny and labeling the polls as an internal matter. Foreign Office spokesperson Mumtaz Zahra Baloch, addressing concerns raised by countries such as the US, UK, and EU regarding the fairness and transparency of the election process, asserted that such criticism lacked constructive…

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Regulator Reduces RLNG Prices for February Due to Lower International Prices

Admin
lng

In response to significant system losses and decreasing international prices, the Oil and Gas Regulatory Authority (Ogra) has announced a reduction in the sale price of Regasified Liquefied Natural Gas (RLNG) for Sui Southern Gas Company Ltd (SSGCL) and Sui Northern Gas Pipelines Ltd (SNGPL) for the current month, effective Feb 1. This marks the second consecutive month of decline…

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Solar Panel Prices Surge in Pakistan

Admin
solar-energy

Karachi: In a concerning trend, the prices of solar panels in Pakistan have witnessed a significant uptick, with costs escalating from a previous range of 75,000 to a staggering 300,000 rupees. This surge, according to industry insiders, can be attributed to a confluence of economic variables and governmental policies.The steady increase in solar panel prices has caught the attention of…

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Shell Predicts 50% Surge in LNG Demand by 2040

Admin
Pakistan-LNG

London: British energy giant Shell has forecasted a significant increase in global demand for liquefied natural gas (LNG), estimating a rise of over 50 percent by 2040. This surge in demand is primarily attributed to China’s transition away from coal. According to a report released by Shell, while natural gas demand has already peaked in certain regions, it continues to…

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Senate Finance Committee Criticizes Surge in Utility Bills

Admin
Finance-Committee

Islamabad: Members of the Senate Standing Committee on Finance expressed strong criticism on Wednesday regarding what they described as a significant and burdensome increase in electricity and gas bills. During the committee’s proceedings chaired by Senator Saleem Mandviwala, members voiced their concerns one after another, highlighting the unusual surge in bills despite the installation of solar panels. Senator Sadia Abbasi…

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Petrol and High-Speed Diesel Prices Expected to Rise

Admin
Petrol-price

The prices of petrol and high-speed diesel (HSD) are anticipated to increase by Rs4-11 per litre for the next fortnight, starting from February 16. This hike is attributed to higher international prices and import premiums, offsetting the impact of a minor exchange rate gain. Sources familiar with the matter revealed that both petrol and HSD experienced an uptick in international…

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