Month: August 2024

ISLAMABAD, August 30, 2024: Oil & Gas Development Company Limited (OGDCL) on Friday announced a significant gas condensate discovery at the Baloch-2 well, in the exploratory zone of the Sembar Formation located in the Sanghar district of Sindh. This discovery marks the first milestone in Sinjhoro Block from Sembar Formation in the Baloch Development and Production Lease (D&PL) area, under the Sinjhoro Exploration Licence.The Baloch-2 well was spudded-in on February 24, 2024, and successfully drilled to a total depth of 3,920 meters True Vertical Depth (TVD) within the Sembar Formation.…

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ISLAMABAD, August 29, 2024: Oil and Gas Development Company Limited (OGDCL) on Thursday hosted a seminar titled “Awareness and Prevention from Corruption” organized by the National Accountability Bureau (NAB) in collaboration with the Sustainable Development Policy Institute (SDPI) at the OGDCL Head Office in Islamabad to combat corruption through increased awareness and the implementation of transparent practices.While speaking at the event, Mr. Shahzad Safdar, Executive Director of HR/Admin at OGDCL, said that the seminar is part of OGDCL’s ongoing efforts to raise awareness about the importance of curbing corruption and…

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The federal government has constituted a four-member committee to devise a strategy for the conversion of three power plants in the country set up under the China-Pakistan Economic Corridor regime from imported coal to indigenously extracted Thar coal.The notification announcing the constitution of the committee for conversion of the three independent power producers from imported coal to Thar coal has been issued by the Power Division of the federal government on the directives of Federal Energy Minister, Sardar Awais Ahmed Khan Leghari. The committee in question will be headed by…

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ISLAMABAD: In a development that may herald some financial relief for power consumers, the National Electric Power Regulatory Authority (Nepra) has been directed to re-evaluate its previous decisions related to fuel price adjustments (FPA) and quarterly tariff adjustments (QTA). The directive, issued by a tribunal and the Islamabad High Court, pertains to 20 decisions taken by the Nepra since March 2021, which have been described as “impugned”. These decisions have a direct impact on the state-run power distribution companies (DISCOs). Notably, K-Electric, the power distributor for Karachi, is excluded from…

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ISLAMABAD: In a shocking development, Iran has served its last notice on Pakistan informing that Tehran is left with no option but to move the Paris Arbitration Court in September 2024 against Pakistan for not constructing the pipeline under the IP gas project during the extended 180-day deadline, senior official sources told The News. The project has been facing a 10-year delay since 2014 over proposed US sanctions on the project. “The GSPA (Gas Sales Purchase Agreement) was signed in 2009 under French law and the Paris-based Arbitration court is…

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