Category: Highlights

OGDCL Revives Heavy Oil Well in Chakwal, Enhances Production at Rajian Oil Field

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Heavy Oil Well in Chakwal

ISLAMABAD, December 16, 2024: Oil and Gas Development Company Limited (OGDCL), Pakistan’s leading exploration and production company, has successfully revived a heavy oil well in the Northern Region field, marking a significant milestone in the nation’s energy sector. The initiative was undertaken at the Rajian Oil Field located in Gujar Khan Exploration License (E.L.), district Chakwal, and is part of OGDCL’s strategic moves to enhance production capabilities. Earlier, the field’s four heavy oil-producing wells were contributing 1,500 barrels per day (BPD). With the successful completion of the revival process, the…

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Historic Shift: Mari Petroleum Overtakes OGDC”

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ojdc

Mari Petroleum has overtaken Oil & Gas Development Company (OGDC) to become the largest company on the Pakistan Stock Exchange (PSX) by market capitalization. Mari’s market value surged to Rs984 billion ($3.5 billion), driven by a 7% year-on-year increase in hydrocarbon sales. The company’s share in the gas market rose to 29%, with a profit-after-tax of Rs77.28 billion in FY24, reflecting a 38% YoY increase. According to a brokerage firm, Mari’s market value surged to Rs984 billion ($3.5 billion), surpassing OGDC’s Rs963 billion ($3.4 billion). This marks a significant shift,…

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NIMA Conference explores US-China Trade Wars, Pakistan Maritime Strategy in the Indian Ocean.

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US-China Trade Wars

ISLAMABAD – The National Institute of Maritime Affairs (NIMA) hosted a Roundtable Conference titled US-China Maritime Competition in the Indian Ocean Region Under the Trump Administration and Options for Pakistan, aimed at providing policy recommendations to key stakeholders. Senator Mushahid Hussain Sayed graced event as Chief Guest, with Vice Admiral Khan Hasham bin Siddique delivering the keynote address. Dr. Baber Bilal, Vice President of NIMA, welcomed attendees and introduced the theme of the event. The session was moderated by Vice Admiral Ahmed Saeed, President of NIMA, and was attended by…

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Gold rates in Pakistan increase further

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gold price

ISLAMABAD: The price of 24 karat per tola gold increased further by Rs.2,300 and was sold at Rs 282,800 on Thursday against its sale at Rs 280,500 on previous trading day, All Sindh Sarafa Jewellers Association reported. The price of 10 grams of 24 karat gold also increased by Rs.1,971 to Rs.242,455 from Rs 240,484 whereas that of 10 gram 22 karat also went up to Rs.222,250 from Rs 220,443. The prices of Per tola and ten gram silver remained constant at Rs 3,450 and Rs.2,957.81 respectively. The price of…

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Midea Hiconics Introduces HIENERGY Three-Phase All-in-One Residential Energy Storage System

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Energy-Storage

Midea Hiconics has launched its cutting-edge HIENERGY Series Three-Phase All-in-One Residential Energy Storage System (RESS), addressing the rising demand for efficient and safe home energy solutions. This advanced system boasts quick and cable-free installation, ensuring ease of use for homeowners. Its modular all-in-one design offers flexible installation options, blending seamlessly with diverse home interiors. Designed with a sleek, modern aesthetic, the HIENERGY Series complements various architectural styles, making it a visually appealing energy solution. Safety and durability take center stage in the HIENERGY Series. Constructed with anti-fire materials and an…

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