Month: September 2023

OGDCL Announces Major Gas Discovery at Chak 214-1 Exploratory Well in Mari East Block, District Rahim Yar Khan, Punjab

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ogdcl

ISLAMABAD, September 19, 2023: The Oil & Gas Development Company Limited (OGDCL), serving as the sole operator of the Mari East Block (100%), on Tuesday announced a significant gas discovery at the Chak 214-1 exploratory well, located in the Rahim Yar Khan district of Punjab province.Chak 214-1 well was spudded in on June 29, 2023, as an exploratory well, as part of OGDCL’s commitment to aggressive exploration, using its in-house expertise. The well was drilled to a depth of 1851 meters. Based on the results of wireline logs interpretation, Drill…

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Minister for Energy Stresses to address the Concerns of Pakistan Business Council

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Energy-Minister

Interim Minister for Energy Muhammad Ali held a comprehensive meeting with a delegation of Pakistan Business Council at power Division today. Issues related to the industrial tariff and green energy options came under discussion in the meeting. The minister acknowledged the fact that the industry is the backbone of the country and to enhance its potential, the issues needs to be addressed on war footing. The minister issued directions to the concerned quarters to take business community on board and give priority to their issues.

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Cheaper energy can spur economic growth: Nepra

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KE’S- 7-YEAR- INVESTMENT-ROADMAP

ISLAMABAD: National Electric Power Regulatory Authority (Nepra) Chairman Waseem Mukhtar on Monday said that promoting energy affordability for the export sector through regionally competitive tariffs was a critical factor in boosting economic growth in current challenging times. Addressing the Pakistan Energy Conference jointly organised by the Sustainable Development Policy Institute (SDPI) and Eventive Solutions, he said other critical factors were boosting investments for a reliable energy supply and transmission system and increasing access, said a press release.

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Australia LNG workers begin 24-hour strike

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lng

SYDNEY: Australia’s Offshore Alliance union said on Saturday workers had begun a 24-hour strike at Chevron’s liquefied natural gas (LNG) plants in western Australia, as part of a ramp-up in industrial action that could see strikes extended until mid-October. The full strike comes after workers on Thursday escalated what had been six days of limited action. Until the end of September, members of Offshore Alliance, a coalition of two unions, can now strike for up to 24 hours each day and refuse tasks such as loading LNG tankers. The company’s…

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Amid rupee devaluation: Foreign-funded, dollar-indexed power generators jolt Pak energy sector

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dollar-indexed

ISLAMABAD: The US dollar-indexed power generators which are mostly privately owned and foreign-funded have caused turmoil in Pakistan’s power sector. Coupled with the devaluation of the rupee, the situation highlights the potential relief that could have been attained had these projects been financed domestically. Remarkably, Re-gasified Liquefied Natural Gas (RLNG)-based power generation in foreign-funded projects proved to be the most economical, with minimal exposure to fluctuations in the dollar’s value. Comparing RLNG plants with coal-based projects, the latter was costlier with times higher capacity payments. Of Pakistan’s derated power generation…

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