Month: November 2023

OMAP urges ministry, Ogra to reconsider proposed weekly adjustments

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oil-and-gas

LAHORE: Chairman Oil Marketing Association of Pakistan (OMAP) Tariq Wazir Ali on Sunday appealed to the Ministry of Petroleum and Oil and Gas Regulatory Authority (OGRA) to reconsider the proposed option of shifting from fortnightly to weekly fuel price adjustments. In a statement issued here, Tariq Wazir Ali said that OMAP believes that such a move will have severe and detrimental consequences for the already beleaguered Oil Marketing Companies (OMCs) in Pakistan. He also said that current economic landscape, marked by lifeline margins, substantial FX losses, a PSO-benchmarked pricing formula,…

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TAPI project gets special concessions

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TAPI-gas

ISLAMABAD: The caretaker government is said to have exempted Turkmenistan Afghanistan-Pakistan-India (TAPI) Gas Pipeline project from the Open Access Regime, OGRA Gas (Third Party Access) Rules 2018 and the Pakistan Gas Network Code, besides standard waiver of immunity in line with international precedents to be included in the Host Government Agreement (HGA), sources close to Secretary Petroleum told Business Recorder. These special concessions were approved by the Cabinet Committee on Energy (CCoE) headed by caretaker Minister for Power and Petroleum, Muhammad Ali last week of last month but its minutes were…

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OGDCL Organizes “Mindful Miles Walk” to Promote Environmental Conservation

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OGDCL-Organizes

ISLAMABAD, November 25, 2023: The Oil and Gas Development Company Limited (OGDCL), in alignment with its Health, Diversity & Inclusion (HDI) initiative, on Saturday organized the “Mindful Miles Walk” for its employees, a dynamic and healthy activity aimed at protecting the environment.The event, organized by the OGDCL Sports Board, was inaugurated by Mr. Ahmed Hayat Lak, the Managing Director and CEO of OGDCL, on the picturesque Trail Five of Islamabad’s Margalla Hills. A large number of the company employees participated in this healthy activity to raise awareness about the significance…

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KE readies IGP for up to 2032-33

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k-electric

ISLAMABAD: K-Electric has prepared its Indicative Generation Plan (IGP) up to 2032-33 which will be submitted to an appropriate forum for consideration and approval. National Transmission and Despatch Company (NTDC) recently wrote a letter to KE in which data has been sought for IGCEP 2024. In reply to a November 2, 2023 letter of Deputy Manager Director, System Operation, National Power Control Centre (NPCC) regarding the data requirements from KE for formulation of the Indicative Generation Capacity Expansion Plan (IGCEP) 2024, KE’s head of Business Development, Mudassir Zuberi, appreciated the…

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PPL begins oil and gas production from new well in Punjab

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oil-gas.

KARACHI: Pakistan Petroleum Limited (PPL) said on Friday it had started production of oil and gas from a new well in the Pothwar region of Punjab The company, which operates the Adhi Mining Lease with joint venture partners Oil & Gas Development Company Ltd (OGDCL) and Pakistan Oilfield Ltd (POL), said the Adhi South-6 well was drilled to a depth of 3,490 meters and completed as a producer. “As part of our continuous efforts for increasing production of oil and gas, we are pleased to disclose encouraging development about the…

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