Author: Admin

Qatar hikes March al-Shaheen oil term price to over 2-year high

Admin
oil term price

SINGAPORE: QatarEnergy has raised the term price for al-Shaheen crude oil loading in March, trade sources said on Thursday, setting it at a premium that has been the highest in more than two years. The term price has risen by $2.76 to $3.81 per barrel, from the premium of $1.05 per barrel set for February-loading cargoes, the sources said. The premium is at its highest level since prices were set in October 2022 for cargoes loading in December that year. Saipem wins $4bn contract from Qatar Energy The hike comes…

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Race to renewables: Attock Cement commissions 4.8MW windmill project

Admin
windmill project

As Pakistan’s corporate sector increasingly turns to renewable energy to meet its power needs, Attock Cement became the latest entrant to join this trend, announcing the successful commissioning of a 4.8MW windmill project. The listed company shared the development in a notice to the Pakistan Stock Exchange (PSX) on Thursday. “We would like to convey the information that our windmill of 4.8MW capacity has been successfully commissioned and is now fully operational with effect from January 15, 2025. Following the announcement, the company’s share price surged to Rs228, an increase…

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OGDCL Begins Oil and Gas Production from Kharo-1 Well in Sindh

Admin

KARACHI: Oil & Gas Development Company Limited (OGDC), Pakistan’s largest exploration and production (E&P) firm, has officially started oil and gas production from its Kharo-1 well in Khairpur, Sindh. The company made this announcement in a notice to the Pakistan Stock Exchange (PSX) on Wednesday. The Kharo-1 well is currently producing 20 barrels of oil per day (bpd) and five million standard cubic feet per day (mmscfd) of gas. The production has been connected to the OGDC Sinjhoro Processing Plant via a 6-inch, 12.5 km flow line, with the gas…

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Leghari Announces Rs1.4 Trillion Savings from IPP Contract Reviews, New Initiatives to Tackle Power Sector Issues

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Awais-Leghari

ISLAMABAD: Federal Minister for Energy, Sardar Awais Ahmad Khan Leghari, informed the National Assembly on Wednesday about significant progress in the power sector. He highlighted that the government had reviewed contracts with 28 Independent Power Producers (IPPs), leading to savings of Rs1,457 billion for the national exchequer. In response to questions during the Question-Hour session, Leghari denied reports that any power distribution company (DISCO) had been handed over to the Inter-Services Intelligence (ISI). He clarified that specialized intelligence units, consisting of provincial officials, the Federal Investigation Agency (FIA), and intelligence…

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Wafi Energy Pakistan Appoints Zubair Shaikh as Interim CEO Following Leadership Transition

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Wafi-Energy

The Board of Directors of Wafi Energy Pakistan Limited, formerly Shell Pakistan Limited, has appointed Zubair Shaikh as interim Chief Executive Officer (CEO), effective February 1, 2025. The announcement follows Waqar I. Siddiqui’s decision to step down as CEO on January 31, 2025. The development was disclosed in a notice to the Pakistan Stock Exchange (PSX) on Wednesday, with the company expressing confidence in Shaikh’s leadership during this transitional phase. This leadership change coincides with the company’s official rebranding to Wafi Energy Pakistan Limited. The transformation follows Wafi Energy Holding…

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