Day: February 20, 2025

Pakistan’s Oil output rises by 10,000 barrels due to tech innovation: Musadik Malik

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oil-and-gas

ISLAMABAD, Feb 20 (APP):Federal Minister for Petroleum Dr. Musadik Malik on Thursday underscored the transformative impact of technological advancements on Pakistan’s energy sector, revealing that a single innovation has led to a 10,000-barrel increase in the Oil and Gas Development Company Limited (OGDCL)’s oil production.Addressing a celebration event organized by OGDCL and Schlumberger, he said that if four more companies adopt similar technological advancements, Pakistan may no longer require International Monetary Fund (IMF) programs for financial stability.He further highlighted that $250 million worth of innovation has been introduced in the…

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Nasir Shah announces to provide solar power in remote areas

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soalr energy

Karachi (Feb 20): Provincial Minister for Energy, Development and Planning Syed Nasir Hussain Shah has said that solar panels will be provided where electricity has not reached, Bilawal Bhutto Zardari’s vision is to provide electricity to everyone. He said this while addressing the inauguration ceremony of electricity supply in Abdullah Rind Goth, Manghopir Town today. PPP MNA Shahida Rehmani, Manghopir Town Chairman Nawaz Ali Brohi and other PPP leaders were present on the occasion. Nasir Shah said that Abdullah Rind Goth Manghopir Town is a pre-Pakistan settlement but has been…

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China, Pakistan strengthen renewable energy ties with strategic accord

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Pakistan-China

ISLAMABAD  –  A strategic cooperation agreement to enhance clean energy collaboration was signed between Mingyang Smart Energy Group Co, Ltd, China and the Energy Department of Sindh, Pakistan, China Economic Net (CEN) reported on Tuesday. Under the agreement, Mingyang Smart Energy will construct a 350MW wind-solar integrated power storage project and a 75MW wind power project in Sindh. These projects are expected to be completed and operational within three years. The signing ceremony was witnessed by President Asif Ali Zardari and Zhang Qiying, President of Global Business Line and CTO…

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Oil rises on supply concerns as market awaits clarity on sanctions

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Oil holds at two-month

NEW YORK: Oil prices rose about 1% to a one-week high on Wednesday on worries about supply disruptions in Russia and the US, while the market awaits clarity on sanctions as the US attempts to broker a deal to end the war in Ukraine. Brent futures were up 65 cents, or 0.9%, at $76.49 a barrel by 10:38 a.m. EST (1538 GMT), while US West Texas Intermediate (WTI) crude rose 89 cents, or 1.2%, to $72.74. That puts both crude benchmarks on track for their highest closes since February 11.…

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Oil little changed after report of rising US crude inventories

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oil-and-gas

Oil prices were little changed on Thursday after rising to a near one-week high in the previous session, as an industry report showing a buildup in U.S. crude stockpiles weighed on sentiment. Brent futures were up 20 cents at $76.24 a barrel by 0600 GMT. U.S. West Texas Intermediate crude dropped 30 cents to $71.95. The March contract expires on Thursday, while the more active April contract rose 21 cents to $72.31. U.S. crude stocks rose by 3.34 million barrels last week, market sources said, citing American Petroleum Institute figures…

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