Author: Admin

OGDCL Collaborates with NCSW for Women Empowerment and Growth

Admin
OGDCL-Meeting

ISLAMABAD, July 02, 2024: Oil and Gas Development Company Limited (OGDCL) has partnered with the National Commission on the Status of Women (NCSW) to empower women and foster their growth within the company.Mr. Ahmed Hayat Lak, MD/CEO of OGDCL, and Ms. Nilofar Bakhtiar, Chairperson of NCSW, on Tuesday, signed a Letter of Intent (LoI) to formalize this collaboration. The LoI signing ceremony was held at the OGDCL Head Office in Islamabad. This strategic partnership underscores OGDCL’s commitment to recognizing and honoring the invaluable contributions of women within its operations.Earlier this…

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Mari Petroleum Successfully Tests Fourth Appraisal Well in Sindh

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mari-petrolium

KARACHI: Mari Petroleum Company Limited (MARI) has successfully drilled and tested the fourth appraisal well in the Mari Ghazij Formation, located in the Mari Development and Production Lease (D&PL) in Sindh, as stated in a notice to the Pakistan Stock Exchange (PSX) on Monday. The notice read, “MARI has successfully drilled and tested the fourth appraisal well in the Ghazij formation (Ghazij discovery) in Mari D&PL.” This well is part of the appraisal program for the Ghazij discovery, which was initially disclosed on January 25, 2023. According to the notice,…

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Government Considers Ethanol-Blended Petrol

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petrol-price

KARACHI: The government is exploring the possibility of blending ethanol into petrol, with the prime minister forming a committee to investigate this prospect. The committee, led by the minister of petroleum, includes the minister of finance, minister of state for finance, and the secretary of the Petroleum Division. This committee will develop a policy for ethanol-blended petrol, acting under specific terms of reference (TORs). It will study international best practices and analyze previous attempts in Pakistan to blend ethanol into petrol. The committee aims to create a concrete plan and…

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KCCI Expresses Disappointment Over Petrol Price Hike

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KCCI-Import

KARACHI: The business community has expressed its disappointment over the recent hike in petroleum and diesel prices by Rs7.45 and Rs9.56, respectively, according to a statement issued on Monday. Businesses fear this increase will not only raise the cost of doing business but also exacerbate the hardships faced by ordinary people. Iftikhar Ahmed Sheikh, President of the Karachi Chamber of Commerce and Industry (KCCI), stated, “It seems that the government has decided not to share any burden or shoulder any responsibilities, instead shifting the entire load of the ill-performing economy…

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OMC Sales Plummet to 18-Year Low in FY24

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russia-oil

KARACHI: The sale of petroleum products in Pakistan hit an 18-year low in the financial year ending June 30, 2024, according to official data. Petroleum product sales declined by 8.0% year-on-year (YoY) to 15.28 million tonnes during FY24, attributed to the economic slowdown and the smuggling of petroleum products, impacting legal sector sales. Oil sales data showed that in June 2024, the OMC industry’s sales increased by 8.0% YoY and 4.0% month-on-month (MoM) to 1.45 million tonnes. However, total sales for FY24 settled at 16.61 million tonnes, marking an 8.0%…

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