Year: 2021

Pakistan Petroleum Limited disclosed that it has made a hydrocarbon discovery from exploratory well, Jugan-1, in the Latif Block (the “Block”) in Sindh, in a notice sent to the Pakistan Stock Exchange (PSX) on Thursday. PPL holds a 33.30% working interest; Eni Pakistan Limited holds 33.30% and United Energy Pakistan Limited (UEPL), formerly known as BP Pakistan, which is an operator of the block, holds the remaining 33.40% working interest in the block. “The well was drilled and tested using the operator’s internal expertise and in consultation with the block’s…

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In a second attempt, the government has managed to finalise the appointment of Lahore Electric Supply Company (Lesco) chief executive officer. Lesco is a power distribution company under the administrative control of Power Division. It is one of the 10 power distribution companies under the administrative control of the Ministry of Energy (Power Division). It is a public sector company as defined under Section 2(1)(54) of the Companies Act 2017 (the Act) and Rule 2(1)(9) of the Public Sector Companies (Corporate Governance) Rules 2013 (the CGR). The matter of appointment…

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The National Electric Power Regulatory Authority (Nepra) has proposed a cap on the tariff for electric vehicle charging stations at Rs45 per unit along with two other options for the prospective and current investors in the power station business. At a public hearing on tariffs for electric vehicle charging stations at the Nepra headquarters, the stakeholders proposed a subsidy on electricity prices to attract investors to engage in the business. They also requested the regulator to leave the tariff uncapped so that market forces could determine the rates. The hearing…

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The government has started the audit of all oil refineries and oil marketing companies (OMCs) to rule out the possibility of irregularities in taxes, product sourcing and transportation costs. A senior government official told Dawn the Petroleum Division had asked 25 OMCs and refineries to ensure availability of relevant personal and entire record for examination by the audit teams. In the first step, an audit team of the Director General Audit (DGA) of Petroleum and Natural Resources will visit Attock Refinery Limited (ARL) in Rawalpindi and Pak-Arab Refinery Company (Parco) in Multan…

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