Category: Highlights

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

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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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Elon Musk’s Starlink gets registered in Pakistan

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elon musk starlink

ISLAMABAD: IT and Telecom Minister Shaza Fatima Khawaja on Saturday announced that the satellite-based internet-providing company ‘Starlink’ had been registered in Pakistan. Elon Musk responded to messages on social media platform X, confirming that the company was negotiating with the government. The IT minister has responded to queries regarding the status of Starlink’s entry into Pakistan’s internet business on the social media platform, saying, “It is registered, and the licensing is in process.” At the same time, some enthusiasts tagged the owner of Tesla, X and Starlink, requesting him to…

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Solis Solarator Series: Pakistan’s Ultimate Solution for Uninterrupted PowerExperience Uninterrupted Power with Solis Energy Storage Inverters—Your 24/7 Energy Solution!

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Solis-Project

In a country like Pakistan, where energy reliability is a persistent challenge, Solis introduces the Solarator Series—a cutting-edge range of energy storage inverters designed to ensure uninterrupted power supply, even in areas with frequent load shedding and grid instability.The name Solarator represents its mission: combining “solar” and “generator” to provide a dependable energy solution for your home, business, or industry.Why Solarator is Perfect for Pakistan·Seamless Operation with Generators: For regions where generator use is common, the Solarator integrates effortlessly, ensuring continuous power when you need it most.·Low-Voltage Compatibility: Designed to…

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Sindh Energy Minister Pledges Support to Thar Coal Project-Affected Communities

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Thar-Coal

KARACHI: Sindh Energy Minister Syed Nasir Hussain Shah, during a meeting with a delegation of Thar Coal project-affected individuals on Friday, assured them of the government’s unwavering support in addressing their grievances. The delegation, comprising Bhim Raj, Leelaram, and other community representatives, raised concerns about employment, access to clean water, and basic amenities. Minister Shah reaffirmed the Sindh government’s commitment to resolving these issues, emphasizing the Pakistan Peoples Party’s (PPP) focus on community welfare. “Our leadership, including PPP President Asif Ali Zardari, Chairman Bilawal Bhutto Zardari, Faryal Talpur, and the…

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Ministry Flags Financial Mismanagement in Oil and Gas Sector, Highlights Circular Debt Crisis

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oil-and-gas

ISLAMABAD: The Ministry of Finance has raised concerns over the poor financial management in Pakistan’s oil and gas sector, attributing it to the rising circular debt and operational inefficiencies. In its report, the ministry identified key weaknesses in the business strategies of major state-owned enterprises (SOEs), including Pakistan State Oil (PSO), Pakistan Petroleum Limited (PPL), Oil and Gas Development Company (OGDC), Sui Northern Gas Pipelines Limited (SNGPL), and Sui Southern Gas Company Limited (SSGCL). Ineffective financial practices and delays in payments from other SOEs and customers have resulted in significant…

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