Category: Latest News

KARACHI: Oil and Gas Development Company Limited (OGDCL) has announced that its Sahito-1 gas discovery in the Lower Goru Formation (Massive Sand), located within the Khewari Exploration License in Sindh, has successfully been brought into production. According to a statement issued on Tuesday, the well is currently producing around 6.0 million standard cubic feet per day (MMSCFD) of gas, with output expected to be gradually increased following planned expansion of surface facilities. To enable early monetisation of the discovery, OGDCL has laid a 6-inch, 5-kilometre flowline connecting Sahito-1 to the…

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ANKARA: Pakistan and Türkiye have reaffirmed their commitment to strengthening bilateral cooperation in the energy sector, with both countries expressing interest in expanding investment and exploring new avenues for strategic collaboration. The understanding emerged during a high-level meeting between Adviser to the Prime Minister on Privatisation Muhammad Ali and Türkiye’s Minister for Energy and Natural Resources during Ali’s visit to the Ministry of Energy and Natural Resources in Ankara on Monday, according to an official statement. The two sides exchanged views on enhancing cooperation in the energy sector, identifying investment…

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ISLAMABAD: Pakistan and Qatar have reported significant progress in the first high-level negotiations between the United States and Iran held under the framework of the Islamabad Memorandum of Understanding (MoU), with both sides agreeing on a roadmap aimed at reaching a comprehensive agreement within 60 days. A joint statement issued following the Lake Lucerne Summit in Burgenstock, Switzerland, described the talks as “positive and constructive,” resulting in the establishment of a High-Level Committee and multiple technical working groups to address key issues, including sanctions, nuclear matters, monitoring mechanisms and dispute…

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ISLAMABAD: The federal government has decided to discontinue the fuel subsidy programme for motorcyclists, small farmers, public transport operators and goods transporters after a significant decline in global oil prices led to substantial reductions in domestic fuel rates. The decision was made during the seventh meeting of the National Steering Committee on Fuel Subsidy, chaired by Deputy Prime Minister and Foreign Minister Ishaq Dar. The committee reviewed the implementation of the subsidy programme across all provinces, as well as Gilgit-Baltistan and Azad Jammu and Kashmir. Officials noted that the sharp…

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ISLAMABAD: The controversy surrounding the allocation of gas from the Spinwam field continues, with holders of Oil and Gas Regulatory Authority (OGRA) gas marketing licences once again raising concerns over the bidding framework, arguing that it contradicts the decision of the Council of Common Interests (CCI). During a recent consultation session organized by Mari Energies, industry participants questioned the eligibility criteria for bidders, particularly the inclusion of entities that do not possess an OGRA licence at the time of bidding. While the bidding deadline has been extended to July 2,…

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