Month: April 2024

Pakistan Petroleum Limited (PPL) Boosts Production Output

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PPL-achieves

Pakistan Petroleum Limited (PPL) has announced a noteworthy increase in its production output, contributing an additional 17 million standard cubic feet per day (MMscfd) of gas and 530 barrels per day (bpd) of oil/condensate to its portfolio. In a statement released on Tuesday, PPL highlighted that this achievement reflects the company’s steadfast dedication to enhancing the nation’s energy security. By employing cost-effective measures, PPL has successfully augmented its indigenous hydrocarbon production, which is poised to play a crucial role in narrowing the energy demand and supply gap in the country.…

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Refiners Warn of Potential $6 Billion Upgrades at Risk Due to Fuel Price Deregulation Plan

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fuel-oil

Top refiners in Pakistan have raised concerns over the country’s plans to deregulate fuel prices, warning that this move could jeopardize planned upgrades worth up to $6 billion and even lead to the closure of some refineries. The refiners, including state-run Pakistan Refinery and private domestic refiners Pak Arab Refinery, Attock Refinery, Cinergyco, and National Refinery, expressed their apprehensions in a letter to the country’s oil regulator, the Oil & Gas Regulatory Authority (OGRA). The proposed deregulation by OGRA would allow oil marketers and refineries to set fuel prices independently,…

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Pakistan Seeks $3.5 Billion Financing from Saudi Arabia for Diamer-Bhasha Dam

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Bhasha-Dam

Pakistan has formally requested $3.5 billion in financing from the Kingdom of Saudi Arabia (KSA) for the Diamer-Bhasha Dam project during a recent high-powered delegation visit from KSA on April 15-16. A senior government official mentioned that KSA would respond after input from the financial adviser on the dam project. Both KSA and Wapda, Pakistan’s water and power development authority, will appoint financial advisers to conduct due diligence on the project’s business model. The total cost of the Diamer-Bhasha Dam is $8 billion, with a foreign component of $4 billion.…

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Iran Ready to Expand Energy Cooperation, Emphasizes Strong Ties with Pakistan

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Pak-iran-1

Iranian President Dr Seyyed Ebrahim Raisi expressed readiness to enhance energy cooperation with Pakistan during his visit to the country. Commending Pakistan’s stance on the Gaza situation, President Raisi highlighted the enduring bond between the two nations. Speaking at the mausoleum of Allama Dr Muhammad Iqbal, President Raisi emphasized the role of poetry in strengthening bilateral relations. He praised Allama Iqbal’s legacy as a bridge between Pakistan and Iran, noting the deep historical, religious, and cultural ties between the two countries. President Raisi laid a floral wreath at the mausoleum,…

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Experts Advocate Privatisation and Clear Roadmaps for Pakistan’s Power Sector

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power-subsidy

At the 7th Leaders in Islamabad Summit, industry leaders and experts discussed the future of Pakistan’s power sector, emphasizing the need for new roadmaps and privatisation to address challenges and drive progress. KE CEO Moonis Abdullah Alvi highlighted privatisation as crucial for tackling circular debt and advocated for clear long-term strategies to expedite sectoral growth. Federal Minister of Energy Awais Ahmad Khan Leghari echoed this sentiment, emphasizing privatisation as a key government agenda for ensuring sector stability and consumer welfare. Alvi noted KE’s interest in renewable energy projects, reflecting a…

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