Day: March 24, 2026

Middle East Conflict Offers ‘Silver Lining’ for Pakistan’s E&P Sector

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Energy-Shock

KARACHI: Escalating tensions in the Middle East have triggered sharp volatility in global energy markets, but the crisis is emerging as a potential opportunity for Pakistan’s exploration and production (E&P) sector, according to a research report. The conflict involving the United States, Israel, and Iran has disrupted key energy infrastructure and supply routes, particularly the Strait of Hormuz, through which nearly 20% of global oil and LNG trade flows. These disruptions have pushed international oil prices sharply higher, with Arab Light crude reaching around $120 per barrel. A report by…

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Mari Energies Signs Deals with Fertilizer Giants to Strengthen Gas Supply

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Mari-Petroleum

KARACHI: Mari Energies Limited has entered into multiple agreements with leading fertilizer manufacturers—Fauji Fertilizer Company Limited, Engro Fertilizers Limited, and Fatima Fertilizer Company Limited—to enhance gas supply for the agriculture sector, the company announced in a notice to the Pakistan Stock Exchange on Tuesday. The agreements relate to the development of Pressure Enhancement Facilities (PEF) at Daharki, Sindh, a strategic project aimed at improving gas flow and reliability from the Habib Rahi Limestone (HRL) reservoir. According to the company, the PEF project includes debottlenecking of pipelines, installation of compression facilities…

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K-Electric Appoints Syed Taha as New CEO

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Syed-Taha

KARACHI: K-Electric has appointed Syed Taha as its new Chief Executive Officer (CEO), replacing interim head Adeeb Ahmad, the company announced in a notice to the Pakistan Stock Exchange on Monday. According to the notice, Taha will formally assume charge on April 15, 2026. He currently serves as Managing Director and CEO of Pakistan State Oil, a position he has held since February 2020. Taha brings extensive experience in the energy sector, having previously worked as Executive Director at Oasis Energy, where he led the Program Management Office for Port…

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Govt Supports Solar Growth but Warns of Grid Risks, Says Owais Leghari

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Awais-Leghari

ISLAMABAD: Federal Minister for Energy Sardar Awais Ahmed Khan Leghari on Monday said the government fully supports solarisation but is committed to a “fair and balanced” solar policy to ensure long-term energy stability. Speaking on key energy sector developments, the minister cautioned that unregulated rooftop solar expansion could create grid stability challenges, stressing the need for proper planning and integration. He noted that while solar energy is being encouraged, reliable sources such as gas remain essential, particularly to meet electricity demand during nighttime. Leghari highlighted that LNG supplies from Qatar…

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Govt Defends Fuel Price Hike, Says Pakistan Still Below Global Surge

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energy-costs

ISLAMABAD: The government on Monday defended recent increases in petroleum prices, arguing that Pakistan’s fuel hikes remain significantly lower than those witnessed globally amid a sharp surge in energy costs. In a statement on social media platform X, Advisor to the Finance Minister Khurram Schehzad said that petrol and diesel prices have risen far more steeply in both developed and emerging economies. “Globally, fuel prices have increased by 27% to 71%, compared to Pakistan’s relatively moderate rise of 22–24%,” he noted, adding that many countries have passed on international price…

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