Year: 2024

OGDCL Strikes Hydrocarbon Reserves in Khyber Pakhtunkhwa

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LAKI MARWAT: Oil and Gas Development Company Limited (OGDCL), Pakistan’s premier exploration and production entity, has announced a significant hydrocarbon discovery at the Bettani-02 (Slant) well in Laki Marwat, Khyber Pakhtunkhwa. In a notice to the Pakistan Stock Exchange (PSX), OGDCL confirmed the find within the Samanasuk formation, an exploratory zone in the Wali Exploration License, where it holds a 100% working interest. The Bettani-02 well, drilled as an appraisal effort to a depth of 5,080 meters into the Shinawari formation, revealed a 247-meter-thick hydrocarbon-bearing Samanasuk formation. The well flowed…

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Diesel Price Set to Drop by Rs3.90; Minor Petrol Hike Expected

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ISLAMABAD: Starting December 16, high-speed diesel (HSD) prices are expected to decrease by Rs3.90 per litre, providing relief to the transport and agriculture sectors. This adjustment aligns with global oil market fluctuations and is anticipated to ease inflationary pressures on consumers. Conversely, petrol prices may increase slightly by 81 paisa per litre, reaching Rs252.91, when the government announces its fortnightly price revision on December 15. The inland freight equalisation margin (IFEM) for petrol and HSD is projected at Rs7.92 and Rs4.15 per litre, respectively. Following the revision, the HSD price…

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Solis Powers PSA Cricket Tournament Season II as Platinum Sponsor

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Lahore, Pakistan : Solis, a global pioneer in solar inverter technology, proudly served as the Platinum Sponsor for the PSA Cricket Tournament Season II, held on December 7 and 9, 2024, at a private ground in Lahore. This exhilarating event brought together cricket enthusiasts and industry leaders to celebrate sportsmanship and innovation. The tournament’s grand finale culminated in the victorious team receiving a cutting-edge Solis 15 KW Low Voltage Energy Storage Inverter, highlighting Solis’ dedication to sustainable energy solutions. In addition, Solis presented exclusive gifts to all participants, attendees, and…

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K-Electric Consumers to Get Rs0.27/Unit Reduction in Power Bills

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K-Electric

ISLAMABAD: K-Electric (KE) customers will see a reduction of Rs0.27 per unit in electricity rates for October 2024 under the Fuel Charge Adjustment (FCA) mechanism. This follows a Rs0.17 per unit reduction in September, offering some financial respite to Karachi residents. During a public hearing held by the National Electric Power Regulatory Authority (Nepra), KE’s proposed FCA adjustment sparked debate about electricity costs and production efficiency. Nepra officials presented data showing that KE customers have historically paid lower FCA rates compared to other power distribution companies (XWDISCOs). In 2022, KE’s…

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Delays in Appointing Financial Advisers for Power Firms Spark Senate Panel’s Concern

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Sahiwal-Power

ISLAMABAD: The federal government has yet to appoint financial advisers (FAs) for three power distribution companies (Discos) and two generation companies (Gencos) earmarked for the initial phase of privatisation, drawing criticism from the Senate Standing Committee on Power. Presided over by Senator Mohsin Aziz, the committee expressed displeasure at the absence of Power Minister Awais Leghari and Secretary Power Dr. Fakhre Alam, despite prior commitments. The meeting agenda included negotiations with independent power producers (IPPs) and discussions on asset disposal and employee liabilities related to privatisation, which were deferred due…

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