Author: Admin

Power Sector’s Delayed Payments Push LPS on GDS to Alarming Rs76.4 Billion

Admin
Power-sector

ISLAMABAD: The Late Payment Surcharge (LPS) on Gas Development Surcharge (GDS) owed by power companies to gas utilities, including PPL, MPCL, and SNGPL, has surged to an alarming Rs76.4 billion, according to a report by the Directorate General of Gas (Petroleum Division). The Gas Development Surcharge, governed by the Natural Gas (Development Surcharge) Ordinance, 1967, represents the margin between the sale price and the prescribed price of natural gas. Proceeds from GDS are distributed among provinces under the NFC Award. However, delays in payments by power producers, including WAPDA, GENCO-II,…

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Sharif Orders Uninterrupted Winter Gas Supply to Domestic Consumers

Admin
gas-shortage

ISLAMABAD: Prime Minister Shehbaz Sharif has directed authorities to ensure uninterrupted gas supply to domestic consumers during the winter season, emphasizing it as a top government priority. The Prime Minister’s Office (PMO) issued a notice following a review meeting on the country’s gas supply. Taking note of complaints regarding reduced gas availability, the prime minister stressed the need for structural reforms in the energy sector to address supply challenges permanently. Officials briefed the prime minister that surplus RLNG in the system has improved load management compared to last year, reducing…

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Bharat Petroleum Plans $11 Billion Refinery in Andhra Pradesh

Admin
LNG industry.

NEW DELHI: Bharat Petroleum Corporation Limited (BPCL) has announced plans to invest approximately $11 billion in a state-of-the-art refinery and petrochemical complex in Andhra Pradesh, aiming to address surging fuel demand in India, the world’s fastest-growing major economy. “This is a significant opportunity for the refining sector as India’s primary energy demand is projected to grow three to four times with the expansion of its economy,” BPCL Chairman G. Krishnakumar stated in an interview with Reuters. The facility will feature a 35% petrochemical intensity and is expected to cost between…

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OGDCL Revives and Enhances Oil Production from Pasakhi-5 Well in Hyderabad, Sindh

Admin
OGDCL-Project

ISLAMABAD, December 26, 2024: Oil & Gas Development Company Limited (OGDCL), Pakistan’s largest exploration and production company, has successfully revived and enhanced oil production from the Pasakhi-5 well, located in Hyderabad district of Sindh. The well is part of the Pasakhi Development & Production Lease (D&PL), with OGDCL holding a 100% working interest.As part of a strategic optimization initiative, OGDCL deployed a rig to install an artificial lift system (ESP) at the well to enhance oil production. Previously, the well was producing 480 barrels of oil per day (BPD) on…

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OGDCL Revives and Enhances Oil Production from Pasakhi-5 Well in Hyderabad, Sindh

Admin
crude oil

ISLAMABAD, December 26, 2024: Oil & Gas Development Company Limited (OGDCL), Pakistan’s largest exploration and production company, has successfully revived and enhanced oil production from the Pasakhi-5 well, located in Hyderabad district of Sindh. The well is part of the Pasakhi Development & Production Lease (D&PL), with OGDCL holding a 100% working interest.As part of a strategic optimization initiative, OGDCL deployed a rig to install an artificial lift system (ESP) at the well to enhance oil production. Previously, the well was producing 480 barrels of oil per day (BPD) on…

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