Category: Highlights

PSO Approves gas Agreement with Azerbaijan’s SOCAR

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SOCAR-PSO

KARACHI: The Management Board of Pakistan State Oil Company Limited (PSO), a leading state-owned oil marketing company, has approved the execution of a Sale and Purchase Agreement (SPA) with the State Oil Company of the Republic of Azerbaijan (SOCAR). As per a notice issued to the Pakistan Stock Exchange (PSX), PSO received the signed agreement from SOCAR on December 24. The execution of the SPA will proceed shortly. Earlier, on November 8, PSO had assured stakeholders of providing updates once the agreement was finalized. This development follows a series of…

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PTT Oil and Retail Business Charts Path to Global Leadership with Sustainability at the Core

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PTT-Oil

PTT Oil and Retail Business Charts Path to Global Leadership with Sustainability at the Core December 27, 2024 BANGKOK, THAILAND – Media OutReach Newswire – 27 December 2024 – PTT Oil and Retail Business Public Company Limited (OR) is driving international growth and sustainable innovation, leveraging its diverse portfolio to navigate volatile global markets. Amid geopolitical uncertainties and fluctuating oil prices, OR has posted robust financial results and unveiled a strategic roadmap aimed at transforming its business for a sustainable and inclusive future. For the first nine months of 2024,…

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Bharat Petroleum Plans $11 Billion Refinery in Andhra Pradesh

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LNG industry.

NEW DELHI: Bharat Petroleum Corporation Limited (BPCL) has announced plans to invest approximately $11 billion in a state-of-the-art refinery and petrochemical complex in Andhra Pradesh, aiming to address surging fuel demand in India, the world’s fastest-growing major economy. “This is a significant opportunity for the refining sector as India’s primary energy demand is projected to grow three to four times with the expansion of its economy,” BPCL Chairman G. Krishnakumar stated in an interview with Reuters. The facility will feature a 35% petrochemical intensity and is expected to cost between…

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OGDCL Revives and Enhances Oil Production from Pasakhi-5 Well in Hyderabad, Sindh

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crude oil

ISLAMABAD, December 26, 2024: Oil & Gas Development Company Limited (OGDCL), Pakistan’s largest exploration and production company, has successfully revived and enhanced oil production from the Pasakhi-5 well, located in Hyderabad district of Sindh. The well is part of the Pasakhi Development & Production Lease (D&PL), with OGDCL holding a 100% working interest.As part of a strategic optimization initiative, OGDCL deployed a rig to install an artificial lift system (ESP) at the well to enhance oil production. Previously, the well was producing 480 barrels of oil per day (BPD) on…

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Democracy thrives on dialogue: if dialogue can be initiated with an enemy country, why not with the perpetrators of May 9, says Murad Shah

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infrastructure

KARACHI (Dec 25): Sindh Chief Minister Syed Murad Ali Shah stated that democracy thrives on dialogue, if we can engage in dialogue with an enemy country, then we should also engage with those involved in the May 9 incident, as we see them as Pakistani citizens. “It is important to address those who have been misled and help them change their perspectives.” He said this on Wednesday while talking to the media at Mazar-e-Quaid, where he was joined by his cabinet members to pay tribute to Pakistan’s founder, Quaid-e-Azam Muhammad…

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