Day: May 14, 2025

DGPC provisionally awards 10 onshore exploration blocks to MariEnergies

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Mari energies

The Directorate General of Petroleum Concessions (DGPC) has provisionally awarded 10 new onshore exploration blocks to MariEnergies, one of Pakistan’s largest exploration and production (E&P) companies. “These blocks have been awarded after competitive bidding on the basis of work units committed by various E&P companies in the Pakistan E&P Onshore Bid Round 2025 (30th April 2025) conducted by the DGPC,” MARI said in its notice to the Pakistan Stock Exchange (PSX) on Wednesday. According to the notice, MARI will operate seven blocks as an operator. At the same time, the…

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OGRA reduces imported LNG prices for May

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OGRA

The Directorate General of Petroleum Concessions (DGPC) has provisionally awarded 10 new onshore exploration blocks to MariEnergies, one of Pakistan’s largest exploration and production (E&P) companies. “These blocks have been awarded after competitive bidding on the basis of work units committed by various E&P companies in the Pakistan E&P Onshore Bid Round 2025 (30th April 2025) conducted by the DGPC,” MARI said in its notice to the Pakistan Stock Exchange (PSX) on Wednesday. According to the notice, MARI will operate seven blocks as an operator. At the same time, the…

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Government Proposes Dual Pricing Model for Petroleum Products to Encourage Digital Payments

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Petrol-Diesel

Islamabad, May 14, 2025 — In a bid to promote digital transactions and curb fuel smuggling, the government is considering a dual pricing model for petroleum products across the country. Under the proposed scheme, consumers would be offered a PKR 5 per liter discount when purchasing petrol or diesel through digital payment methods. As per initial details, the model would set two price tiers for POL (Petroleum, Oil, and Lubricants) products: The price differential will be achieved by reducing the Petroleum Levy (PL) on digital transactions, allowing the government to…

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Pakistan, Russia Agree to Set Up New Steel Mill in Karachi to Bolster Bilateral Ties

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New-Project20

ISLAMABAD: Pakistan and Russia have agreed to collaborate on establishing a new steel mill in Karachi, marking a significant step forward in strengthening bilateral industrial cooperation. The decision was reached during a follow-up meeting between Special Assistant to the Prime Minister on Industries and Production, Haroon Akhtar Khan, and a Russian delegation led by Denis Nazaroof. The Russian side reaffirmed its commitment to support Pakistan’s steel sector and invited Pakistani representatives to an upcoming industry exhibition in Moscow. This follows earlier discussions in September 2024 between Russia’s Deputy Minister for…

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MariEnergies Secures 10 New Onshore Exploration Blocks in DGPC Bid Round

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New-Mari1

ISLAMABAD: Mari Energies, formerly known as Mari Petroleum Company Limited, has provisionally secured 10 onshore exploration blocks in Pakistan following the recent competitive bidding round conducted by the Directorate General of Petroleum Concessions (DGPC) on April 30, 2025. In a notice to the Pakistan Stock Exchange (PSX), the company confirmed that it will independently operate seven of the awarded blocks, while the remaining three will be developed through joint ventures (JVs). These JV arrangements include partnerships with Oil and Gas Development Company Limited (OGDCL), Pakistan Petroleum Limited (PPL), and Prime…

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