Month: October 2022

Oil and Gas Development Company Limited (OGDCL), the largest oil and gas exploration company in Pakistan, on Thursday announced the discovery of oil reserves from its exploratory well in Punjab. In a notice sent to the Pakistan Stock Exchange (PSX), the company announced that OGDCL “being operator of Toot Mining Lease with 100% working interest has made oil discovery from Lokhart Formation at Toot Deep-I well which is located in Attock District, Punjab Province, Pakistan”. OGDCL said that Toot Deep # 01 well was spudded-in on December 25, 2020, and…

The National Electric Power Regulatory Authority (Nepra) on Wednesday allowed ex-Wapda Distribution Companies (Discos) to charge about nine paise per unit higher rates to their consumers under monthly fuel cost adjustment (FCA) for electricity consumed in September. At a public hearing presided over by Nepra Chairman Tauseef H. Farooqui and members Rafique Shaikh and Maqsood Anwar Khan, the regulator took up a petition from Central Power Purchasing Agency (CPPA) on behalf of 10 Discos for about 20 paise per unit increase in FCA to mop up about Rs2.5 billion additional…

Dialogue on Energy Crises October 27, 2022 Former PM Shahid Khaqan Abbasi for adopting emergency measures to resolve inefficiencies in energy sector to save economy Islamabad: Former prime minister Shahid Khaqan Abbasi has said that inefficiencies in the energy sector have to be addressed on an emergency basis to save the national economy from an utter crash.While addressing a dialogue on “Energy crises and way forward” organized by the Energy Update here at the Islamabad Club, the former PM said that inefficient working of the power and gas sectors had…