Author: Admin

PPL Increases Gas Output at Shahdad X-1 Well in Sindh

Admin
New-PPL

KARACHI: Pakistan Petroleum Limited (PPL) has significantly boosted natural gas production at its Shahdad X-1 well in the Gambat South Block, Sanghar District, Sindh, following a successful water shut-off operation. According to a notice submitted to the Pakistan Stock Exchange (PSX) on Thursday, gas production at the well has surged from 2.2 million standard cubic feet per day (mmscfd) to 8.4 mmscfd. Simultaneously, water production has dropped dramatically from 3,000 barrels per day (bpd) to just 26 bpd. The Shahdad X-1 well, drilled in 2012 and operational since 2015, originally…

Read More

Energy Ministry Spends Billions on Free Electricity for Employees

Admin
power-tariff

ISLAMABAD: Official documents presented in the National Assembly on Thursday revealed that the Energy Ministry spends billions of rupees annually on providing free electricity to over 200,000 current and retired employees. The records disclosed that these employees collectively consume 441.5 million units of electricity free of charge each year. Of this, 308.2 million units are allocated to serving employees, while 133.2 million units benefit retired staff. The majority of beneficiaries are employees of Distribution Companies (DISCOs), with 149,000 individuals—78,000 active and 71,800 retired—receiving free electricity. This is followed by 20,000…

Read More

IMF Recommends Aligning CPP Gas Tariffs with RLNG Prices from February

Admin
Pakistan-LNG

ISLAMABAD: The International Monetary Fund (IMF) has proposed aligning gas tariffs for captive power plants (CPPs) with re-gasified liquefied natural gas (RLNG) prices, effective February 1, 2025, as part of efforts to recover the full cost of energy. Previously, the government had agreed to disconnect gas supply to CPPs, citing inefficiency and the supply of electricity to these plants from the national grid at subsidized rates. Accountability authorities had earlier deemed the practice of providing gas to CPPs at discounted rates a criminal offense, emphasizing the need to prioritize efficient…

Read More

‘Saudi Arabia Eyes $600bn Investment, Trade Boost with US Over Four Years

Admin
bin-Salman

Saudi Arabian Crown Prince Mohammed bin Salman has expressed plans to expand investment and trade with the United States by $600 billion over the next four years, according to the Saudi State News Agency. In a phone call with President Donald Trump, the crown prince highlighted the potential economic prosperity anticipated from the Trump administration’s reforms. He noted that Saudi Arabia aims to capitalize on these favorable conditions through significant investments, with the figure potentially increasing if new opportunities arise. Details on whether the $600 billion would come from public…

Read More

PM Lauds $20bn World Bank Partnership to Drive Economic Growth and Resilience

Admin
world-bank

ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday hailed the $20 billion Country Partnership Framework (CPF) with the World Bank as a groundbreaking initiative to address Pakistan’s developmental challenges and boost economic growth. Speaking at the launch ceremony, he described the decade-long collaboration as a transformative partnership promoting employment, IT-led development, and climate resilience. The prime minister emphasized that the CPF is designed to foster growth, economic stability, and technological progress. He commended the World Bank’s support in hydropower, water management, and economic reforms, calling the framework a timely intervention to…

Read More