Category: Recent Post

At a time when the country is facing an unprecedented rise in POL prices, the country still has the potential to produce 200,000 oil barrels per day (BPD) and 1.2 billion cubic feet per day gas by launching exploration and production activities of oil and gas where seepages of oil and gas are found in the three federating units of KPK, Balochistan and Punjab. KP and Balochistan are rich with seepages of petroleum products, which is a low hanging fruit but unfortunately, the Petroleum Exploration & Production Policy 2012 (Policy…

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The Water and Power Development Authority (Wapda) is constructing 10 projects in water and hydropower sectors under the ‘Decade of Dams’ vision which will achieve completion in a phase-wise manner from 2023 to 2029, said Wapda Chairman Muzammil Hussain. Speaking at the University of Agriculture, Faisalabad on Friday, the official reaffirmed the authority’s commitment to water, food and energy security in the country. He revealed that the schemes under development include five dams, three hydropower projects, one canal and one water supply system. Upon their completion, the gross water storage…

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Syed Khalid Siraj Subhani has been given the acting charge of Managing Director (MD) and Chief Executive Officer (CEO) of the Oil and Gas Development Company Limited (OGDCL), following the resignation of the company’s incumbent MD/CEO Shahid Salim Khan. The Board of Directors of Oil and Gas Development Company Limited (OGDCL) in its 240th meeting held on October 14, 2021, has accepted the resignation of the company’s MD/CEO , Shahid Salim Khan, said a letter shared by the OGDCL with Karachi Stock Exchange Limited and London Stock Exchange Plc. It…

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National Electric Power Regulatory Authority (Nepra) Chairman Tauseef H. Farooqi said on Friday the Competitive Trading Bilateral Contract Market (CTBCM) will be rolled out in April next year. Addressing a webinar on the future of energy organised by Nutshell Group, Mr Farooqi said the fact that the government is the only buyer of electricity from independent power producers and generation companies has created inefficiencies in the power sector. Electricity buyers of one megawatt and more will have the option to buy power on a competitive basis from any producer of…

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In a major move to revive inflows from the international lending agencies — IMF and the World Bank — the government on Friday announced a countrywide uniform increase in base electricity tariff and a moratorium on new gas connections in all ongoing schemes. Addressing a news conference, Energy Minister Hammad Azhar said the decision to increase the base power tariff by Rs1.39 per unit was taken during a meeting between the World Bank management and Finance Minister Shaukat Tarin that he joined through Zoom link. The minister said the increase…

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