Discos making do in the absence of 50,000-plus critical staff
ISLAMABAD: With the power sector’s circular debt standing at an astronomical Rs1.18 trillion and a whopping 20 percent in reported technical losses...
Oil prices climb as Iran sanctions loom; US looks to prevent supply shortfall
Washington is putting pressure on other countries to also cut Iran imports, with close allies like South Korea and Japan, but also India, showing signs of falling in line
Decision to increase gas prices by 46pc put on hold
ISLAMABAD: The Economic Coordination Committee (ECC) of the federal cabinet has decided not to immediately increase gas prices by 46 per cent,...
Qatargas agrees on 22-year LNG supply deal with China
The Qatari state-owned company will supply LNG from the Qatargas 2 project - a venture between Qatar Petroleum, Exxon Mobil Corp and Total - to receiving terminals across China, with the first cargo to be delivered this month
OGDCL makes oil & gas discovery at Chanda oilfield in Kohat
The block is operated by OGDC with 72 percent stake along with 17.5 percent and 10.5 percent stake of GHPL and ZPCL respectively
Oil climbs as U.S. drilling stalls, Washington sanctions against Iran loom
Brent crude futures climbed 50 cents, or 0.65 percent, to $77.33 a barrel
Circular debt parked in PHPL surged 454pc to Rs582 billion since 2008
The shortfall in bill collection by distribution companies since 2013-14 has been projected at Rs434 billion
Over $600 million saved in LNG supply deal signed with Qatar: Report
The negotiations with Qatar stalled after the latter refused to decrease the offer price for LNG and Pakistan used that to its benefit by approaching the open market in late 2015 to publicly seek 120 cargoes in two huge tenders
PPL discovers fresh oil deposits in Punjab
Pakistan Petroleum Limited (PPL) has announced the discovery of oil deposits in an exploratory well in Talagang, Chakwal district.
The discovery was made...
Turkmenistan seeks South Asian markets after power plant boost
Central Asian states are jockeying to supply electricity to potentially promising markets in Afghanistan and Pakistan
$139bn bonanza in pipeline for oil services providers in Middle East
LONDON: GCC and global oil services and equipment providers are cashing in on an upswing in capital spending in Middle Eastern oil...
Finance minister assures electricity, gas prices won’t be increased for industries
APTMA patron-in-chief said Mr Umar had committed to keeping prices at the promised level and the government would find a solution by either providing a subsidy from the budget or cross-subsidizing the industries.
Another probable power price hike on the cards
After the conclusion of the hearing, an official said the additional impact of the prior year adjustment (PYA) for FY18 taking PPP difference into consideration was coming out of the rising net hydel profit to the provinces
OGDCL earns 78.736bn profit during FY2017-18
ISLAMABAD: The Oil and Gas Development Company Limited (OGDCL) has earned an after-tax profit of Rs78.736 billion during the financial year 2017-18 ended...
HDIP to upgrade hydrocarbon testing labs at a cost of Rs270m
Rs100 million would be utilized for expansion and up-gradation of Pakistan Petroleum Core house (PETCORE) for its sustainable operations to facilitate oil and gas exploration research in Pakistan