Author: Admin

Pakistan’s Hydrocarbon Reserves Surge on New Discoveries, Upward Revisions

Admin
Gas-OGDCL

KARACHI: Pakistan’s hydrocarbon reserves have recorded a notable expansion, fueled by fresh discoveries and upward revisions in existing fields, according to a new research report by Topline Securities covering the six months ending June 2025. The report highlights a robust reserve replacement ratio of 235 percent for natural gas, with overall balance recoverable gas reserves rising by 4.6 percent and oil reserves increasing by nearly 1 percent. Mari Petroleum Company Limited (MARI) led the surge, contributing 996 billion cubic feet (BCF) of additional gas and extending its reserve life to…

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Neelum-Jhelum Hydropower Project Declared a Costly Failure of Planning and Execution

Admin
Neelum-Jhelum

ISLAMABAD: The Auditor General of Pakistan (AGP) has declared the Rs507 billion Neelum-Jhelum Hydropower Project a failure in terms of objectives, planning, and execution, saying it neither secured Pakistan’s water rights nor delivered the promised power output. Multiple tunnel collapses and structural flaws have cast serious doubt on the quality of work on this project of national importance. In its performance audit report for 2022-23, submitted to the president and parliament, the AGP noted that even the major headrace tunnel collapse last year—which has kept the project shut for months—was…

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Low Petrol Pump Sales Raise Alarm Over Fuel Smuggling

Admin
Billion-Petroleum

KARACHI: Widespread smuggling of petroleum products is suspected as sales volumes at most outlets of oil marketing companies (OMCs) remain far below levels required for commercial viability, industry data shows. Despite government crackdowns, internal assessments reveal that average daily sales of motor spirit (MS) and high-speed diesel (HSD) at many OMC pumps are insufficient to cover operational costs. “This clearly indicates that these outlets are being supplied with smuggled fuel or sourcing products from other OMCs,” industry officials said. On average, 24 OMCs are selling less than 2,500 litres of…

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Pakistan’s Gas Reserves Climb 4.6pc to 18,981bcf

Admin
Gas-OGDCL

KARACHI: Pakistan’s balance recoverable gas reserves increased by 4.6 percent to 18,981 billion cubic feet (bcf) in June 2025, up from 18,142bcf in December 2024, supported by new discoveries and upward revisions at existing fields. According to a report by Topline Securities, the country’s total gas production during the past six months stood at 621bcf. The rise in reserves was led by Mari Energies (MARI), which added 996bcf through discoveries and revisions. Notably, Soho and Spinwam fields contributed 125bcf and 92bcf, while upward revisions at Mari Deep, HRL, Shewa, and…

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Sixth Tanker Loads LNG from Russia’s Sanctioned Arctic LNG 2 Project

Admin
New-Project6-1

SINGAPORE: A liquefied natural gas (LNG) tanker has loaded cargo from Russia’s Arctic LNG 2 project, marking the sixth shipment from the facility this year, ship-tracking data from analytics firms Kpler and Vortexa showed. The cargo, lifted by the tanker La Perouse between August 30–31 after arriving at the plant on August 27, follows China’s receipt of an LNG delivery from Arctic LNG 2 last week — the first end-user cargo since the project began operations late last year. Arctic LNG 2, a key Russian energy project, is under Western…

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