Month: June 2022

The consumers of liquefied petroleum gas (LPG) have got good news following the massive increase in petroleum product prices. The Oil and Gas Regulatory Authority (Ogra) has slashed the price of LPG by Rs13 to Rs218.76 per kg. Now, the domestic cylinder will be sold for Rs2,581.35 and the commercial cylinder will be available at Rs9,931.65. The LPG Industries Association of Pakistan said that keeping in view the efforts of the government to provide relief to the masses, further reduction could be made in the LPG price. “The current official…

Read More

A major oil industry lobby has warned of impending breakdown in the energy supply chain as companies are facing financial crisis following refusal of international banks to accept Letters of Credit (LCs) opened by Pakistani banks. In an SOS call, Oil Companies Advisory Council (OCAC) Chairman Waqar Irshad Siddiqui revealed that the oil industry had come under financial strain, raising the spectre of breakdown in the country’s energy supply chain. Earlier, in a letter to the Ministry of Energy (Petroleum Division) on May 26, the OCAC highlighted that international banks…

Read More

The National Electric Power Regulatory Authority (Nepra) indicated on Tuesday an increase of Rs3.99 per unit in power tariff on account of fuel cost adjustment (FCA) for April 2022. The decision would place an additional burden of Rs51 billion on the power consumers. The decision would not apply to the K-Electric consumers and the lifeline users. A hearing was held at Nepra over a proposal to raise the tariff by Rs4.5 per unit. The Central Power Purchasing Agency (CPPA-G), while applying for the April fuel price adjustment, stated that 12.55…

Read More

Mr. Iftikhar clearly had his country’s best interests in mind when responding to the journalist who asked him about this on Friday and should therefore be praised for articulating such a pragmatic stance on behalf of the new authorities, but he also unwittingly discredited some of their most influential supporters who insisted that it’s impossible for Pakistan to refine Russian oil. Former Pakistani Prime Minister Imran Khan has consistently claimed that the Russian dimension of his independent foreign policy was one of the reasons why the US allegedly conspired with…

Read More

By the grace of Almighty Allah, Mari Petroleum Company Limited (MPCL) is pleased to announce a gas/condensate discovery resulting from its exploratory efforts at Bannu West-1 ST-1 Exploration Well, drilled in Bannu West Block, located in North Waziristan district, KP Province. MPCL is the Operator of Bannu West Block having 55% working interest alongwith OGDCL and ZPCL as joint venture partners having 35% and 10% working interest respectively.The said well was spud-in on June 06, 2021 and successfully drilled down to the depth of 4,915 meters. The Drill Stem Tests…

Read More