Oil prices ease on surprise rise in U.S. stockpiles, but Middle East tensions support
Brent crude futures were at $70.90 a barrel at 0100 GMT, down 34 cents, or 0.5%, from their last close. Brent closed up 1.4% on Tuesday.
OGDCL discovers gas, condensate in Sindh
ISLAMABAD: The Oil & Gas Development Company Limited (OGDCL) has discovered gas and condensate oil from its exploratory-cum-appraisal well ‘Mangrio–1’ in Nim Block,...
Offshore drilling near Karachi coast completed
ISLAMABAD:Â Offshore drilling near Karachi coast on Indus G-Block (Kekra-1) has finally been completed after four months of hard work. The drilling was...
Oil tankers ‘sabotaged’ as Gulf tensions soar
Almost all the oil exports of Saudi Arabia, Iraq, UAE, Kuwait, Qatar and Iran itself, at least 15 million barrels per day, are shipped through the Strait of Hormuz.
PowerChina mulls further investments in Pakistan
KARACHI:Â Pakistan is likely to become an energy sufficient country in coming three years, said PowerChina Resources Limited and Port Qasim Coal-Fired Power...
Chinese firm to complete Pakistan hydropower project by April 2021
BEIJING:Â Construction of the Karot Hydropower Project in Pakistan will be completed in two years it will start generating power by April 2021,...
Iraq plans $53bn project with ExxonMobil, PetroChina
BAGHDAD: Iraq is planning a $53 billion mega project with global energy giants ExxonMobil and PetroChina to use seawater from the Persian...
PEECA sheds light on importance of energy conservation
Punjab Energy Efficiency and Conservation Agency (PEECA), in collaboration with Pakistan Green Building Council, held a workshop on 'Energy Conservation Building Codes'...
‘Govt to overcome circular debt by Dec 2020’
ISLAMABAD: Prime Minister Imran Khan on Monday chaired a high-level meeting wherein he was apprised that the government had set a target...
No electricity load shedding for domestic consumers during sehar, iftar, tarveeh timings
ISLAMABAD: Domestic consumers will be exempt from electricity load shedding during sehar, iftar, tarveeh timings during the upcoming holy month of Ramzan.
The Pakistan Electric...
FBR releases notification for hike in petroleum products
ISLAMABAD: The Federal Board of Revenue (FBR) on Sunday released the notification for an increase in prices of petroleum products. The recent hike, which...
OGDCL scraps contract worth $5.6mn awarded to a Chinese company
ISLAMABAD: Oil and Gas Development Company Limited (OGDCL) has scrapped a $5.6 million worth contract for hiring of rigs which was awarded...
New chairman has straightforward plans for OGDCL
'The only way forward is to keep drilling new wells, keep experimenting'
ISLAMABAD:Â Dr Qamar Javaid Sharif, the newly-appointed board chairman of the...
Report on Kekra-I offshore drilling within 3-4 weeks, Senate told
ISLAMABAD:Â Energy Minister Omar Ayub Khan said on Friday that the report on any discovery of energy reserves at Kekra-I offshore drilling site...
Qatar agrees to supply LNG to Pakistan on low rates: sources
'The new LNG supply agreements will help Pakistan save approximately $2.5bn in 10 years'
ISLAMABAD:Â The government has convinced Qatar to supply 400...