Year: 2019

KARACHI: The Oil and Gas Regulatory Authority (Ogra) has approved up to 191% increase in gas price for different sectors of the economy, which is expected to invite a fresh wave of inflation in the country. The regulatory authority has increased prices for different sectors of the economy including, commercial, cement, power, fertiliser and CNG fuel stations with effect from July 1, 2019. This is the second gas price hike during the ongoing fiscal year by the Pakistan Tehreek-e-Insaf (PTI) government, reflecting an aggressive approach to bridge the revenue shortfall of…

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ISLAMABAD: State-run Oil & Gas Development Company Ltd (OGDCL) on Monday announced to have started drilling of first shale gas well in Hyderabad for exploration of unconventional hydrocarbon deposits. The company said in a statement that it had technically planned to drill the well, named KUC-01, in two phases. “The first well is planned to be drilled in vertical section and fracturing operations will be carried after reservoir evaluation,” it said, adding that the drilling operations commenced on Dec 14. Based on the outcome of the reservoir evaluation and fracturing…

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ISLAMABAD: Estimating power sector losses rising by four per cent since the financial year 2016 to 29pc, the Asian Development Bank (ADB) and the government have agreed to raise about Rs469 billion revenues through consumer tariff during the current fiscal year and shift about Rs800bn of the circular debt stock to public debt in three years. This is part of the Energy Sector Reforms and Financial Sustainability Programme under which the Manila-based lending agency disbursed $300million loan to Pakistan last week for 25 years including five years of grace period…

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GE Showcases Commitment to Powering Pakistan at Tech Conference Islamabad, December 10, 2019: GE Power hosted the Pakistan 9HA Tech Conference in Islamabad, welcoming government officials, industry experts, power plant owners and operators, consultants, and others. The event highlighted the contributions of GE’s 9HA gas turbine technology and teams in meeting Pakistan’s energy needs and strengthening community infrastructure. Access to affordable, reliable, flexible and sustainable electricity is critical to growing economies and fundamental to improving quality of life in the modern world. Equipped with two units each of GE’s 9HA gas…

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The economy is passing through tough times. Economic weaknesses, which might have remained unnoticed for long under normal circumstances and even contributed to higher economic growth rates, are coming to the fore. The addition of Liquefied Natural Gas (LNG) to the country’s energy mix was described as a game changer when electricity shortages were costing the economy two to three per cent of GDP growth. Successful LNG imports signified a big contribution in economic terms when seen in the backdrop of previous botched attempts. More than 5,200 megawatts of base-load…

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