Author: Admin

POL Brings Razgir-1 Well Onstream, Boosting Gas and Condensate Output

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crude oil

ISLAMABAD: Pakistan Oilfields Limited (POL) announced that the Razgir-1 well has been successfully brought onstream at the Tolanj Production Facility on October 12, following approvals from relevant regulatory authorities. In a notice to the Pakistan Stock Exchange (PSX), the company stated that production from the newly commissioned well is being gradually ramped up and is expected to reach a flow rate of 25.1 million cubic feet per day (MMcf/d) of gas and 333 barrels per day (bpd) of condensate by the end of the day, based on commingled production results…

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Uncertainty Looms Over Renewable Energy Projects as PPIB Awaits IGCEP Approval

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PPIB-new

ISLAMABAD: The Private Power and Infrastructure Board (PPIB) has cast uncertainty over the future of nearly a dozen renewable energy projects — including several hydropower and solar ventures — citing both official and undeclared reasons, primarily the pending finalization of the Indicative Generation Capacity Expansion Plan (IGCEP) 2025–35, according to informed sources. During its recent board meeting, PPIB Managing Director Shah Jahan Mirza presented a compliance report outlining the status of key projects, revealing that multiple ventures are now in limbo pending government-level decisions and policy clarity under the upcoming…

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Pakistan, IFC Advance Toward Financial Close of Reko Diq Project

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Reko-Diq

ISLAMABAD: Pakistan and the International Finance Corporation (IFC) have agreed to accelerate efforts for the early financial close of the Reko Diq project, one of the largest foreign investments in the country’s mining sector, the Ministry of Finance announced on Sunday. The development came during a meeting between Finance Minister Muhammad Aurangzeb and Riccardo Puliti, IFC’s Regional Vice President for the Middle East, Central Asia, Türkiye, Afghanistan, and Pakistan, held in Washington, DC on the sidelines of the IMF and World Bank Annual Meetings. Both sides reaffirmed their commitment to…

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Pakistan Braces for Coldest Winter in Decades Amid Lingering Flood Impacts

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New-Project61

ISLAMABAD: Pakistan is expected to experience one of its coldest winters in decades, driven by the ongoing La Niña climate pattern, according to a recent situation report by the Intersector Coordination Group in collaboration with partners, under the UN Office for the Coordination of Humanitarian Affairs (OCHA). The report warns that the colder-than-usual conditions could further strain the coping capacity of flood-affected households—particularly in the mountainous regions of Khyber Pakhtunkhwa (KP) and Gilgit-Baltistan (GB)—as they continue to recover from this year’s devastating monsoon floods. La Niña, which occurs when sea…

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Federal Minister for Petroleum Ali Pervaiz Malik Visits Russia, Strengthens Energy Cooperation

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New-Project59

ST. PETERSBURG, RUSSIA October 13,2025 Mr. Ali Pervez Malik, Federal Minister for Petroleum, undertook a significant visit to Russia, where he participated in the 14th St. Petersburg International Gas Forum 2025 (SPIGF) and held high-level meetings to bolster bilateral cooperation in the oil, gas, and minerals sectors. Minister Malik led the Pakistani delegation at the prestigious forum, a global gathering of energy leaders. During a high-level plenary session, titled “Gas Market 2025–2035: New Contours in a Fast-Moving Environment”he presented Pakistan’s comprehensive energy sector reforms to an international audience, highlighting the…

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