Month: February 2024

Mari acquires working interest in Zarghun South and Nareli Block

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Mari-Petroleum

Mari Petroleum Company Limited (MARI), one of Pakistan’s largest E&P companies, has acquired a working interest from Spud Energy Pty Ltd (SEPL) in Zarghun South and Nareli Block. Mari shared the development in its notice to the Pakistan Stock Exchange (PSX) on Wednesday. “Mari and SEPL have signed agreements today (February 07, 2024) for the acquisition of 40% working interest in Zarghun South D&PL and 27.55% working interest in Nareli Block by Mari from SEPL,” read the notice. Mari shared the said acquisitions are subject to requisite regulatory approvals and…

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China Was Responsible for 96% of Coal Plants Constructed in 2023

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Coal-Russia

China was single-handedly responsible for 96% of global coal power capacity construction last year, cementing its position as the biggest coal builder in the world. Per data, released by Global Energy Monitor and reported by Bloomberg, China last year also accounted for 68% of new coal generation capacity that came online last year and 81% of newly planned coal generation projects. China’s attitude to coal has been hard to swallow for Europe and other transition advocates but Beijing has made a point of explaining that on its list of priorities, energy security…

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PTA Confirms Internet Services to Remain Operational on Pakistan Election Day.

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General-Election

Islamabad: The Pakistan Telecommunication Authority (PTA) has quashed rumors of a planned internet shutdown on election day (February 8), asserting that internet services will continue without interruption. Despite previous concerns and past instances of disruptions, government officials have assured the public of internet accessibility during the upcoming elections. Shutdowns pose significant economic consequences, with telecom companies facing losses of Rs940 million per day, resulting in a substantial impact on tax revenue for the national exchequer. The IT freelance industry, in particular, suffers losses of approximately $2 million daily during internet…

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This general election vote against ‘them’

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General-Election

By Mian Sami ud-Din You, a citizen of Pakistan, are called upon to deliberate and vote in the upcoming general elections on 8 February 2024. This is your right to exercise a choice. A choice to elect your representative in the national and provincial assemblies and to form new representative federal and provincial governments. Out of all the rights you have in this country, perhaps this stands on the highest of pedestals. For its consequences are not the mere enjoyment of a particular right but it is the right on…

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Ogra Proposes Significant Gas Price Hike to Fulfill IMF Conditions

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OGRA

In response to the IMF’s requirements and to meet a mid-February deadline, the Oil and Gas Regulatory Authority (Ogra) has proposed substantial increases in gas tariffs, aiming to extract an additional Rs100 billion from consumers over the next four months. This move follows a significant tariff hike in November, as part of the government’s commitment to the IMF. Notably, Ogra streamlined its public hearing process, holding only one session each in Lahore and Karachi for Sui Northern Gas Pipelines Ltd (SNGPL) and Sui Southern Gas Company Ltd (SSGC) respectively, excluding…

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