Day: July 12, 2025

Mari Energies to Acquire Stakes in Three Oil and Gas Blocks from Orient Petroleum

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New-Mari

KARACHI: Mari Energies Ltd has entered into farm-out agreements with Orient Petroleum Inc (OPI) to acquire interests in three oil and gas blocks across Pakistan, marking a strategic expansion of its upstream portfolio. Under the agreements, Mari Energies will assume a 45% working interest and operatorship in the Marwat Block (Khyber Pakhtunkhwa) and the Harnai South Block (Balochistan). Additionally, the company will acquire a 20% non-operating working interest in the Ratana Development and Production Lease located in Punjab. The deal is subject to regulatory approvals, execution of assignment deeds with…

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Gandapur Seeks PM’s Support for Swift Resolution of Net Hydel Profit Dispute

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CM-Gandapur

ISLAMABAD: Khyber Pakhtunkhwa Chief Minister Sardar Ali Amin Gandapur has appealed to Prime Minister Shehbaz Sharif to facilitate an “out-of-the-box” resolution to the long-standing Net Hydel Profit (NHP) issue, which remains unresolved between WAPDA and the provinces. In a letter to the Prime Minister, Gandapur invoked Article 161(2) of the Constitution, which guarantees net profits from hydroelectric power generation to the provinces. He highlighted that the Kazi Committee Methodology (KCM), endorsed by the Council of Common Interests (CCI) and upheld by the Supreme Court, has formed the legal and constitutional…

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EPQL Urges Power Division to Expedite Gas Supply Approval from Badar Field

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Engro Powergen Qadirpu

ISLAMABAD: Engro Powergen Qadirpur Limited (EPQL) has called on the Power Division to fast-track the approval of a Supplementary Agreement (SA) that would enable the use of low-BTU indigenous gas from the Badar-1 gas field, aiming to boost electricity generation and reduce reliance on costly imported fuels. In a letter to the Power Division, EPQL CEO Adeel Qamar highlighted the company’s successful track record, operating a 225-MW power plant primarily on permeate gas from the Qadirpur field under a Power Purchase Agreement (PPA) with CPPA-G since March 2010. To date,…

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Federal Policies Stalling Sindh’s Energy Growth, Says CM Murad

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CM-Murad

KARACHI: Sindh Chief Minister Syed Murad Ali Shah on Friday voiced strong concerns over federal government policies that he said are obstructing the province’s energy sector development, despite its vast potential to power the nation. Speaking at the Sindh Energy Diversity Conference, organized by Energy Update in collaboration with the Sindh Energy Department, Mr Shah described Sindh as Pakistan’s “energy basket,” rich in coal, natural gas, wind, and solar resources. Yet, he noted that federal policies continue to pose “major hurdles” to the province’s progress. He recalled past setbacks —…

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SOEs’ Profits Decline Amid Soaring Power Sector Losses Reaching Rs5.9 Trillion

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Power-sector

ISLAMABAD: Pakistan’s state-owned enterprises (SOEs) continue to weigh heavily on the economy, as their profits and revenues dropped significantly in the first half of FY2024-25, driven largely by persistent inefficiencies and mounting losses in the power sector. According to the Ministry of Finance’s biannual report released on Friday, aggregate revenues of federal SOEs fell by 8%, while profits dipped 10% during July–December FY25. The Central Monitoring Unit (CMU) flagged the power sector as the biggest drag, with cumulative losses hitting an alarming Rs5.9 trillion — Rs2.4 trillion of which stems…

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