Author: Admin

PSO Cleared to Finalise LNG Cargo Diversion Deal with Qatar by November 15

Admin
LNG

ISLAMABAD: The government has authorised Pakistan State Oil (PSO) to finalise a key agreement with Qatar by *November 15, allowing the diversion of up to *24 LNG cargoes in 2026 under a net proceeds differential formula. In a recent meeting, the Petroleum Division informed the Economic Coordination Committee (ECC) that PSO needed approval to conclude discussions with Qatar Energy before the deadline. It proposed authorising PSO and the Petroleum Division to finalise the Annual Delivery Programme (ADP) for 2026 with a cargo range of 24 to 29. The ECC approved…

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Disasters Inflict $3.26tr Damage on Global Agriculture: FAO Report Warns of Mounting Risks and Digital Solutions

Admin

ISLAMABAD: Global agriculture has suffered an enormous $3.26 trillion in losses from disasters over the past 33 years — averaging *$99 billion annually, or nearly *4% of global agricultural GDP — according to the Food and Agriculture Organisation’s (FAO) latest report, Impact of Disasters on Agriculture and Food Security 2025, released on Friday. The report reveals that from *1991 to 2023, disasters destroyed **4.6 billion tonnes of cereals, **2.8 billion tonnes of fruits and vegetables, and **900 million tonnes of meat and dairy, reducing global food availability by *320 kilocalories…

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2nd International Oil & Gas Conference Pakistan 2025 to be Held on 17th November

Admin
Oil-Gas

Islamabad, 14th November 2025: The 2nd International Oil & Gas Conference Pakistan 2025 is scheduled for Monday, 17th November 2025 in Islamabad, bringing together top leaders, policymakers, and industry experts to discuss emerging trends, challenges, and opportunities in Pakistan’s oil and gas sector. The conference is proudly supported by OGRA (Oil & Gas Regulatory Authority) and OCAC (Oil Companies Advisory Council), emphasizing its importance in shaping the industry’s future. The day-long event will begin with the Inaugural Session, which will feature a welcome address by Mr. M. Naeem Qureshi, Managing…

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Petroleum Division, Ogra Directed to Resolve Grid Levy and RLNG Charge Disputes

Admin
OGRA

ISLAMABAD: Minister of State for Finance and Railways Bilal Azhar Kayani has instructed the Petroleum Division and the Oil and Gas Regulatory Authority (Ogra) to urgently address industry concerns over the grid transition levy and retrospective RLNG charges, sources told Business Recorder. The directives were issued during a meeting with a business community delegation representing the Special Investment Facilitation Council (SIFC). Industry representatives argued that the grid transition levy disproportionately penalises high-efficiency Combined Heat and Power (CHP) plants, which operate at 60–80pc efficiency by utilising waste heat in production processes.…

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Pakistan Revives Offshore Energy Push with Award of 23 Exploration Blocks

Admin
New-oil

ISLAMABAD: Pakistan has reactivated its offshore exploration programme with the provisional award of 23 new offshore blocks to public-sector oil and gas companies, led by Mari Energies, under three-year commitments worth approximately $80 million. Mari Energies — a joint venture of Fauji Foundation and the federal government — emerged as the dominant player, securing stakes in all 23 blocks offered in the latest bidding round. The company obtained operatorship in 18 blocks and partnership roles in five, holding 100pc ownership and operatorship in 10 of them, and majority stakes in…

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