Month: August 2023

Ogra hikes LPG prices by Rs24/kg

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price-cuts

ISLAMABAD: The government announced on Monday a 13.45 per cent or Rs23.9/kg increase in liquefied petroleum gas (LPG) prices for domestic and commercial consumers for August 2023 compared to the previous month. According to a notification issued by the Oil and Gas Regulatory Authority (Ogra), the price per kilogram of LPG would be raised to Rs201 in August, up from Rs177/kg in July 2023. LPG is widely used in Pakistan for cooking purposes in areas without access to piped natural gas, as well as for heating, power generation and automotive…

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OMAP calls out OGRA chief for favouring big OMCs

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fuel-oil

ISLAMABAD: The Oil Marketing Association of Pakistan (OMAP) on Monday criticised the Oil and Gas Regulatory Authority (OGRA) OGRA chairman for extending all out support to Oil Companies’ Advisory Council (OCAC) – forum of the big oil marketing companies. In a strongly worded letter to OGRA Chairman Masroor Khan, OMAP Chairman Tariq Wazir Ali pinpointed the deplorable attitude of the regulator’s chief towards the emerging OMCs in all vital issues, and his all the time support to OCAC. The letter was copied to Federal State Minister Musadik Malik and Secretary…

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OGDCL registers ‘significant’ oil, gas production boost during July

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Gas-project

KARACHI: The Oil and Gas Development Company Limited (OGDCL) on Monday notified a significant increase in oil and gas production from four of its wells located in Sindh. In a notice to the Pakistan Stock Exchange (PSX), the company shared its production boost during July 2023, attributing the enhancement to the use of “cutting-edge technologies”. OGDCL posted a total increase of 1865 BPO oil and 15.9 MMSCFD from four of its wells in different parts of Sindh. According to details, the company registered an increase in production at Nim East-1,…

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Govt all set to approve brownfield refining policy this week

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PRL-eyes

KARACHI:The government is likely to approve a policy this week to upgrade its existing refineries and enhance their capacity and efficiency, industry officials said on Monday. The policy, known as the ‘brownfield refining policy’, has been pending for several months and the government wants to finalise it before its term ends next week. “The government has communicated its intention to approve the policy to the local oil sector and we expect it to be approved this week,” an official said, requesting anonymity. The present government has already approved a “greenfield…

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CPEC moves into second phase with ‘simple’ celebration

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Pak-China-1

ISLAMABAD: China and Pakistan decided to accelerate the second phase of the China-Pakistan Economic Corridor, hailing the progress on development initiatives in the decade since the project’s launch in 2013. In a special ceremony held to commemorate 10 years of CPEC on Monday, six new documents were signed for joint cooperation. The celebrations, however, were kept simple out of respect for the victims of the Bajaur terrorist attack. Earlier in the day, Chinese Vice Premier He Lifeng, who is on an official visit to attend the celebrations as a special representative…

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