Category: Latest News

Mari Energies Acquires 65% Stake, Operatorship of Peshawar Block from Hycarbex

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KARACHI: Mari Energies Limited has announced a major expansion of its upstream portfolio through the acquisition of a 65% working interest and operatorship of the Peshawar Block in Khyber Pakhtunkhwa from Hycarbex-American Energy Inc. The transaction was formalised under a farmout agreement between the two companies, as disclosed in a material information notice filed with the Pakistan Stock Exchange (PSX) on Tuesday. The deal remains subject to regulatory approvals, execution of deeds of assignment with the Government of Pakistan, and completion of other formalities. Mari Energies said the acquisition reflects…

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OGDCL Strikes Major Gas and Condensate Discovery in Sindh

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ISLAMABAD: Oil & Gas Development Company Limited (OGDCL), Pakistan’s largest exploration and production firm, has announced a significant hydrocarbon discovery at its Bitrism East-1 well in District Khairpur, Sindh. In a notice to the Pakistan Stock Exchange (PSX) on Wednesday, OGDCL said it holds a 95% working interest in the Bitrism Exploration License, while Government Holdings (Private) Limited (GHPL) retains the remaining 5%. The well was spudded on June 30, 2025, and drilled to a depth of 3,800 meters in the Sembar Formation using the company’s in-house expertise with its…

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Pakistan Shares Future Power Generation Plans with German Development Agency

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ISLAMABAD: Federal Minister for Power Sardar Awais Ahmed Khan Leghari has outlined the government’s future power generation roadmap, aimed at building a sustainable, transparent, and modern energy system to address current sectoral challenges. He shared the plans during a meeting with a delegation of the German development agency (GIZ) led by Deputy Head of Mission Arno Kirchhof. Discussions focused on ongoing cooperation under the €7 million “Decarbonization and Digitization of Power Distribution Network” program, launched in 2024 and set to continue until 2026. The initiative provides technical assistance to the…

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Govt Hikes Petrol, Diesel Prices; LPG Rates Cut for October

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ISLAMABAD: The federal government on Tuesday announced a hike in petroleum prices, raising petrol by Rs4.07 and high-speed diesel (HSD) by Rs4.04 per litre for the next fortnight. According to the Finance Division, the new price of petrol stands at Rs268.68 per litre, up from Rs264.61, while HSD has risen to Rs276.81 from Rs272.77. The decision was made on the recommendations of the Oil and Gas Regulatory Authority (Ogra) and relevant ministries. Petrol, widely used in motorcycles, rickshaws, and private vehicles, directly impacts middle- and lower-income households, whereas HSD powers…

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Pakistan Reaffirms Clean Energy Commitment at COMSATS Forum

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The Commission on Science and Technology for Sustainable Development in the South (COMSATS), in collaboration with a number of national and international partner organizations, held international Seminar on The Future of Energy: Innovations in Renewable and Clean Energy Technologies. Federal Minister for power Sardar Awais Ahmed Khan Leghari, graced the inaugural ceremony of the event, as Chief Guest, held at COMSATS University Islamabad (CUI). Ambassadors and diplomats of Palestine, Philippines, Somalia, Syria, Sudan, and Zimbabwe also attended the inauguration. The Federal Minister noted that although Pakistan contributes less than 1%…

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