Day: April 10, 2025

OGDCL Targets 2027 for Production in ADNOC’s Offshore Block-5, Eyes Expansion in Minerals

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ISLAMABAD, April 10, 2025: Pakistan’s state-run Oil and Gas Development Company Limited (OGDCL) plans to commence production from Abu Dhabi’s Offshore Block-5 by 2027, marking a major step in its international expansion, said CEO Ahmed Hayat Lak on Wednesday. Speaking on the sidelines of the Pakistan Minerals Investment Forum 2025, Lak stated that while reserves in the ADNOC-partnered block are still under evaluation, the company anticipates production within two years. Domestically, OGDCL aims to ramp up its oil production from 37,000 to over 50,000 barrels per day and increase gas…

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Fuel Prices in Pakistan May Drop by Up to Rs12 Amid Falling Global Oil Rates

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Fuel-Price

Islamabad, April 10, 2025: Consumers in Pakistan could soon see a significant drop in fuel prices, with a potential reduction of up to Rs12 per litre in petrol and diesel, following a sharp decline in global crude oil prices, according to sources in the Petroleum Division. Brent crude oil has experienced a steep fall over the past week, currently trading at $60.12 per barrel—down from $74.74 on March 31. Although prices briefly rose to $74.95 on April 1 and 2, they have since plummeted by more than $14 per barrel.…

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NEPRA Recommends Immediate Removal of IESCO CEO Over Poor Performance

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New-NEPRA

Islamabad, April 10, 2025: The National Electric Power Regulatory Authority (NEPRA) has strongly recommended the immediate removal of Naeem Jan, Chief Executive Officer of Islamabad Electric Supply Company (IESCO), citing unsatisfactory performance. The recommendation was made by NEPRA Member (Technical) Rafique Ahmad Shaikh during a public hearing on IESCO’s request for adjustments related to the multi-year tariff (MYT) components for the financial year 2025-26. The hearing also covered proposed changes to end-consumer tariffs. Shaikh expressed deep dissatisfaction with the CEO’s performance, noting that the company had failed to present a…

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Kazakhstan to Join TAPI Gas Pipeline Project, Strengthen Scientific and Economic Ties with Pakistan

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TAPI-gas

Islamabad, April 10, 2025: Kazakhstan is poised to formally join the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project, marking a significant step forward in regional energy integration and cooperation. The development was shared by the Kazakh Ambassador during a meeting with Pakistan’s Federal Minister for Science and Technology, Khalid Hussain Magsi, held in Islamabad on Tuesday. The meeting underscored a shared commitment to bolstering bilateral relations, particularly in education, science, and technology. Minister Magsi announced that several Memorandums of Understanding (MoUs) are being finalized to strengthen collaboration in the education sector. Kazakhstan…

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Italy Targets $3 Billion Trade with Pakistan: Italian CG Calls for Stronger Economic Ties

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Pak-Italy

Karachi, April 10, 2025: Italy is aiming to double its bilateral trade with Pakistan to at least $3 billion in the coming years, announced Italian Consul General in Karachi, Fabrizio Bielli, during his visit to the Karachi Chamber of Commerce & Industry (KCCI). Highlighting Karachi’s economic significance, Bielli described the city as rich with untapped opportunities, particularly in energy, agriculture, water recycling, and industrial machinery. He emphasized Italy’s global leadership in advanced medical equipment and textile machinery, expressing Italy’s readiness to support Pakistan’s development, especially in the healthcare sector. Bielli,…

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