Year: 2023

Bids publicly opened for petroleum exploration in 10 onshore blocks

Admin
Ministry-Energy

The Bid Opening Committee under the chairmanship of DGPC publicly opened bids for 10 Onshore Blocks for the grant of Petroleum Exploration Rights on November 30, 2023, at Petroleum House, Islamabad. Bids were received for 6 Blocks. The highest bidder for 2 Blocks is UEP (100%). POL ( 40% – operator) with JV partners PPL (30%) & OGDCL (30%) in 01 Block, OGDCL (100%) in 02 Blocks and PPL (70% – operator) with JV partner OGDCL (30%) in 01 Block.The minimum investment to be carried out by the Exploration and…

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COP28 opens with historic launch of loss and damage fund

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Anwaar-ul-Haq

DUBAI: Nearly 200 nations agreed Thursday to launch a fund to support countries hit by global warming, in a “historic” moment at the start of UN climate talks in the oil-rich UAE. The landmark announcement came as the Emirati host of the COP28 talks declared that fossil fuels must be part of any final climate deal negotiated over the next two weeks. The talks in Dubai come at a pivotal moment for the planet, with emissions still rising and the UN on Thursday declaring 2023 on track to become the…

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Karachi industrialists announce shutdown on December 4

Admin
gas-plant

• Ask govt to take back unprecedented hike in gas tariffs• Production suspension to cause $47m per day export loss KARACHI: Industrialists in the economic nerve centre of Pakistan have announced a complete production shutdown on Monday (Dec 4) to force the caretaker government to reverse the unprecedented hikes in the gas tariffs. They estimate a per day export loss of $47 million from the port city. Businessmen have already displayed protest banners at the offices of all trade associations, demanding the government to immediately bring down the gas rates to Rs1,350…

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LPG prices go up by Rs45.18 per cylinder for December

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LPG-plant

ISLAMABAD: The caretaker government on Wednesday raised the prices of liquefied petroleum gas (LPG) by Rs3.83 per kilogram for commercial and domestic consumers for December, citing a rise in the average dollar exchange rate. The Oil and Gas Regulatory Authority (OGRA) said in a notification that the LPG prices increased to Rs254.86 per kg from Rs251.03 in November, affecting various cylinder sizes differently. A spokesperson OGRA said the LPG producer price is tied to the Saudi Aramco-CP and US dollar exchange rate, which remained unchanged compared to the previous month.…

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Pakistan’s petrol, diesel prices for the next two weeks

Admin
Petroleum-prices

WEB DESK: As the fortnightly review approaches, indications suggest that there will be no significant alterations in the prices of petroleum products. Notably, diesel and kerosene rates are expected to experience a slight decrease.The government is on the brink of announcing the revised petrol prices for the upcoming week. The new petrol rates in Pakistan will come into effect from December 1, and the announcement is expected to be made before 11:59 pm today.Currently, the petrol rate in Pakistan is Rs281.34 per litre, and many individuals, burdened by inflation, are…

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