Author: Admin

Islamabad: In a major move aimed at enhancing Pakistan’s maritime competitiveness and positioning Gwadar Port as a regional logistics hub, Federal Minister for Maritime Affairs Junaid Anwar Chaudhry on Monday announced significant reductions in port tariffs and charges for international shipping lines. According to an official statement, berthing fees for container vessels at Gwadar Port have been reduced by 25 percent, while port charges on international transshipment containers have been slashed by 40pc. In addition, charges on transit container cargo have been cut by up to 31pc to encourage greater…

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KARACHI, May 8, 2026: Pakistan Petroleum Limited (PPL) has successfully commissioned Faiz X-1 Deep (Basal Sand) at its operated Gambat South Block in District Sanghar, Sindh. Production from Faiz X-1 Deep was ramped up in stages since its commissioning on February 25, 2026, gaining a current flow of approximately 3.6 MMscfd gas and 750 bpd condensate, following optimization of operational parameters.Drilled in 2014, Faiz X-1 discovery could not be developed due to absence of nearby pipeline infrastructure, leaving the project uneconomical. Following the pipeline connectivity and technical and economic re-evaluation,…

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Islamabad — The National Electric Power Regulatory Authority (NEPRA) has approved a Distribution Investment Plan (DIP) worth Rs42.577 billion for Peshawar Electric Supply Company (PESCO) for the 2025–2029 period, substantially lower than the utility’s original and revised investment proposals. PESCO had initially submitted its DIP to NEPRA on February 27, 2025, for the Multi-Year Tariff (MYT) control period covering FY2025-26 to FY2029-30, proposing total investments of Rs123.808 billion. The company planned to finance the projects through internal resources and borrowings after approval from its Board of Directors. The proposed investment…

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Pakistan Petroleum Limited (PPL) has successfully commissioned the Faiz X-1 Deep (Basal Sand) well in Sanghar after the project remained undeveloped for more than a decade due to infrastructure constraints. The leading oil and gas exploration and production company disclosed the development in a notice submitted to the Pakistan Stock Exchange (PSX) on Friday. “We, the operator of Gambat South Block, are pleased to announce the successful commissioning of Faiz X-1 Deep (Basal Sand) well,” the company stated. According to PPL, the well was originally drilled in 2014, but the…

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Cebu — Leaders of the Association of Southeast Asian Nations (ASEAN) concluded their summit on Friday with a renewed call to accelerate ratification of a regional oil-sharing framework, as member states grapple with the growing economic fallout from the Middle East conflict and disruptions in global energy supplies. The summit, hosted in Cebu, focused heavily on the unprecedented energy crisis triggered by the effective closure of the Strait of Hormuz, a vital maritime route that previously handled nearly one-fifth of the world’s oil and gas shipments and around 130 vessels…

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