Author: Admin

IMF spox says EFF reforms helped stabilise Pakistan’s economy

Admin
IMF

The International Monetary Fund (IMF) has said that Pakistan’s policy efforts under its Extended Fund Facility (EFF) programme have “helped stabilise the economy and rebuild confidence” with fiscal performance described as “strong”. Speaking at a weekly press briefing on Thursday, IMF Communications Director Julie Kozack said a staff team is expected to visit Pakistan from February 25 to hold discussions on the third review under the EFF and the second review under the Resilience and Sustainability Facility (RSF). Kozack noted that Pakistan currently holds a primary fiscal surplus of 1.3% of gross domestic product…

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OGDC Announces Oil and Gas Discovery at Baragzai X-01 (Slant) in Kohat

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oil

ISLAMABADOil and Gas Development Company Limited (OGDC), Pakistan’s leading exploration and production company, on Friday announced a significant oil and gas discovery at its exploratory well Baragzai X-01 (Slant), located in Kohat district of Khyber Pakhtunkhwa province.The discovery has been made over the Lumshiwal Formation within the Nashpa Exploration Licence. During Cased Hole Drill Stem Test (CHDST-04) conducted in the Hangu and Lumshiwal formations, the well produced 225 barrels of oil per day (BOPD) and 1.01 million standard cubic feet per day (MMSCFD) of gas through a 32/64’’ choke at…

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US Supreme Court strikes down Trump’s global ‘Liberation Day’ tariffs

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US Supreme Court

America’s top court has struck down some of US President Trump’s most sweeping tariff moves, concluding that he violated federal law by imposing the duties on nations around the world. In a six-to-three vote, the US Supreme Court decided that the International Emergency Economic Powers Act (IEEPA) does not empower the president to unilaterally impose tariffs. The judgment throws out the sweeping “Liberation Day” announcement made in April 2025, which saw Trump impose tariffs across US trading relationships and shake up key shipping markets.

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OGDC Announces Oil and Gas Discovery at Baragzai X-01 (Slant) in Kohat, Khyber Pakhtunkhwa

Admin
ogdcl-1

ISLAMABAD, February 20, 2026: Oil and Gas Development Company Limited (OGDC), Pakistan’s leading exploration and production company, on Friday announced a significant oil and gas discovery at its exploratory well Baragzai X-01 (Slant), located in Kohat district of Khyber Pakhtunkhwa province.The discovery has been made over the Lumshiwal Formation within the Nashpa Exploration Licence. During Cased Hole Drill Stem Test (CHDST-04) conducted in the Hangu and Lumshiwal formations, the well produced 225 barrels of oil per day (BOPD) and 1.01 million standard cubic feet per day (MMSCFD) of gas through…

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SIFC-backed projects drive historic energy output surge in Pakistan

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SIFC-body

Pakistan has achieved a major milestone in energy production with the support of the Special Investment Facilitation Council (SIFC), signaling historic progress in the country’s oil and gas sector. Officials emphasized that these developments will enhance energy security and strengthen the nation’s economic foundation. The initiative reflects Pakistan’s commitment to modernizing its energy infrastructure through strategic partnerships and technological innovation.The Oil and Gas Development Company Limited (OGDCL) has partnered with foreign firms and adopted advanced technical measures to boost daily production. Key agreements include collaboration with French company SNF S.A.…

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