Author: Admin

Amended E&P Policy to Be Notified Today, Aims to Attract $5 Billion Investment

Admin
oil and gas

ISLAMABAD: The government is set to notify the amended Exploration and Production (E&P) Policy 2012 today, enabling E&P companies to sell 35% of gas from future discoveries to the private sector through competitive auctions. This policy aims to attract $5 billion in investments to Pakistan’s oil and gas sector. According to the implementation framework approved by ECNEC on November 25, 2024, private sector purchases will be capped at 100 mmcfd for the current year. A senior official confirmed that the Law Division has cleared the draft notification, and the Directorate…

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Pakistan Reaffirms IMF Commitment: Gas Supply to Captive Power Plants to CeaseFinance Minister Addresses Senate Panel on Economic Reforms

Admin
Gwadar-power

ISLAMABAD: Finance Minister Mohammad Aurangzeb has reiterated Pakistan’s commitment to the International Monetary Fund (IMF) by affirming the discontinuation of gas supply to captive power plants (CPPs), a promise made under the 2021 IMF agreement but left unimplemented by the previous government. During a heated Senate panel session, the finance minister emphasized that failing to honor the 2021 commitment had eroded the trust of the IMF. He assured that the current government would implement the IMF program without compromise, prioritizing macroeconomic stability over short-term growth ambitions. “The IMF program will…

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Canada’s PM Justin Trudeau announces resignation

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Justin Trudeau announces resignation

What we covered here • Canadian Prime Minister Justin Trudeau announced Monday he intends to step down as the country’s prime minister, leaving office once a new ruling party leader is chosen. • Canada’s parliament will be suspended until March 24 while a new leader is chosen, he said. • Trudeau, leader of the Liberal Party for 11 years and prime minister for nine, was facing a mounting set of crises, from Donald Trump’s tariff threats to the resignation of key allies and disastrous opinion polls.

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Chairman WAPDA visits Mohmand Dam:

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Chairman reviews construction

Chairman reviews construction activities at key sites Chairman directs Project Management for timely completion of the Project January 06, 2025: Chairman WAPDA Engr Lt Gen Sajjad Ghani (Retd) visited Mohmand Dam, a multipurpose project being constructed across River Swat in Mohmand District of Khyber Pakhtunkhwa, and reviewed the ongoing construction activities carried out at the key sites of the project. During his visit, Chairman WAPDA Engr Lt Gen Sajjad Ghani (Retd) was briefed about the construction in progress at different sites of Mohmand Dam Project that include Diversion Tunnels Outlet…

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PPL’s subsidiary receives $6mn settlement from Iraq’s Midland Oil Company

Admin
Oil prices

PPL Asia E&P B.V. (PPL Asia), a subsidiary of Pakistan Petroleum Limited (PPL), has received a settlement amount of $6 million from Midland Oil Company (MdOC), a state-owned Iraqi oil entity. PPL, one of Pakistan’s largest exploration and production (E&P) companies, shared the development in its notice to the Pakistan Stock Exchange (PSX) on Monday. “This is further to our letter regarding the successful settlement with Midland Oil Company (MdOC) in respect of the Exploration, Development, and Production Service Contract (EDPSC) for Block-8, Iraq. “We are now pleased to notify…

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