Day: August 2, 2025

Pakistan’s Oil and Gas Production Declines for Fifth Consecutive Year

Admin
crude oil

KARACHI: Pakistan’s domestic oil and gas production has continued its downward trajectory for the fifth straight year, driven by a combination of policy uncertainty, security challenges, and natural reserve depletion, further exacerbating the country’s reliance on expensive energy imports. Data reviewed by The News reveals a consistent drop in output since FY20. According to the Pakistan Petroleum Information Services, oil production fell from 76,734 barrels per day (bopd) in FY20 to 62,395 bopd in FY25. The trend includes minor fluctuations, with output slightly recovering to 70,524 bopd in FY24 before…

Read More

OGDCL Boosts Production at Rajian Well-05 with ESP Installation in Chakwal

Admin
OGDCL

ISLAMABAD: The Oil and Gas Development Company Limited (OGDCL) has successfully increased oil and gas production at its Rajian Well-05 in Chakwal District by installing an Electrical Submersible Pump (ESP), demonstrating the company’s continued commitment to enhancing field performance through advanced technologies. Following a planned workover and ESP deployment, output from Rajian-05 surged to 3,100 barrels of oil per day (BPD) and 1.0 million standard cubic feet per day (MMSCFD) of gas. Previously, the well had been producing only 820 BPD of oil and 0.5 MMSCFD of gas. The Rajian…

Read More

Exchange Rate Adjustment, Levy Hikes Push Up Diesel Price Despite Petrol Cut

Admin
fuel-price

ISLAMABAD: High-Speed Diesel (HSD) prices have increased by Rs 1.48 per litre in the latest fortnightly review for August, largely driven by a Rs 3.21 per litre exchange rate adjustment applied to Pakistan State Oil (PSO), the country’s primary fuel importer. The Finance Division, in its Thursday announcement, also revealed a significant Rs 7.54 per litre cut in petrol prices, reflecting international market trends. However, several policy-driven adjustments contributed to the uptick in diesel pricing. One of the key factors was the rise in the petroleum levy on HSD, which…

Read More

Sahiwal Coal Plant Warns of Forced Outage Amid Railway Wagon Shortage

Admin
Sahiwal-Power

ISLAMABAD: The Sahiwal coal-fired power plant, a flagship project under the China-Pakistan Economic Corridor (CPEC), has raised alarm over a critical shortage of railway wagons for coal transportation, warning that continued delays could trigger a forced outage and threaten national grid stability. Huaneng Shandong Ruyi (Pakistan) Energy (Private) Limited (HSRL), the Chinese operator of the 1,320 MW facility, has formally communicated its concerns to top government officials, including the Special Assistant to the Prime Minister. The plant is already grappling with financial strain due to payment delays from the Central…

Read More

Donors Pledge \$5 Billion for Reko Diq Mining Project Amid Foreign Investment Surge

Admin
Reko-Diq

ISLAMABAD: Pakistan has received an overwhelming \$5 billion in financing offers from leading global donors and development agencies to support the execution of the Reko Diq copper and gold mining project in Balochistan, far exceeding the estimated project requirement of \$3 billion. Key contributors include the Asian Development Bank (ADB), Islamic Development Bank (IDB), International Finance Corporation (IFC), and the US Exim Bank—along with development agencies from Germany and Denmark. Sources highlight that the financial close is at an advanced stage, with Petroleum Minister Ali Pervaiz Malik and the Special…

Read More