Category: Highlights

Sindh Investment Dept, Swiss Business Council agree to promote trade, facilitate Swiss investment in Sindh

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KARACHI: Sindh Investment Department (SID) and Swiss Business Council (SBC) have signed an MoU to promote trade and investment in the province. SID, Government of Sindh’s primary investment has been active in facilitating investments and this partnership with Swiss Business Council aims to create the requisite nexuses crucial to further tap the trade and investment opportunities in Pakistan and Switzerland whilst encouraging links and cooperation in economic, cultural, and educational fields.Talking on the occasion, Georg Steiner, Ambassador of Switzerland to Pakistan, emphasized the importance of a collaborative approach in fostering…

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OGDCL Announces Production Commencement from Chanda-7 Well in Kohat & Production Revival from Kunnar-8 Well in Hyderabad

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OGDCL-Project

ISLAMABAD, June 03, 2024: Oil and Gas Development Company Limited (OGDCL), Pakistan’s largest Exploration and Production company, has announced the commencement of production from the Chanda-7 well in Kohat, Khyber Pakhtunkhwa, and successful revitalization of the Kunnar-8 well located in Hyderabad, Sindh to enhance oil and gas production.Chanda-7, a new development well, has been successfully tested, completed, and brought into production utilizing OGDCL’s in-house expertise. The well is currently producing 305 barrels per day (BPD) of oil and 2.5 million standard cubic feet per day (MMSCFD) of gas. Furthermore, 3.0…

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PM Shehbaz Sharif’s Visit to China Expected to Strengthen Economic Ties

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Shehbaz-Sharif

ISLAMABAD: Prime Minister Shehbaz Sharif is set to visit China on Tuesday, aiming to enhance economic and trade relations between the two nations. Invited by President Xi Jinping and Premier Li Qiang, the visit is anticipated to foster collaboration in the energy and IT sectors through various memorandums of understanding (MoUs) and agreements. During his visit, PM Sharif will engage with corporate executives from leading Chinese companies in the fuel and energy sectors, and address the Pakistan-China Business Forum. He will also meet entrepreneurs and investors from both countries to…

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Global gas market to grow 50% amid energy transformation

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As those trends ripple through the industry, growth in oil investment shows signs of peaking in non-OPEC countries, while investment in liquified natural gas (LNG) is expected to increase more than 50% by 2029, according to Goldman Sachs Research. The industry had 73 major projects under development worldwide last year, 30% more than at the beginning of the decade but still 32% below the level in 2014, according to Top Projects, GS Research’s 21st annual analysis of the energy sector. Underscoring this shift, Goldman Sachs Research projects the global gas market will grow 50% during the next five years.

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Nepra Approves Rs46.6 Billion Additional Financial Burden on Consumers ISLAMABAD:

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NEPRA

The National Electric Power Regulatory Authority (Nepra) has approved an additional financial burden of Rs46.613 billion on consumers of distribution companies (Discos) and K-Electric (KE) under the Quarterly Tariff Adjustment (QTA) for the third quarter (January-March) of the current fiscal year. Of the total approved adjustment, Rs28.515 billion is attributed to capacity charges. An additional Rs10.284 billion will be recovered due to the lower Fuel Cost Adjustment (FCA) impact of Transmission and Distribution (T&D) losses, Rs5.309 billion for Operations and Maintenance (O&M), and Rs2.541 billion for Use of System Charges.…

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