Category: News & Announcement

KARACHI: Pakistan Pet­­r­o­leum Ltd (PPL) ann­ou­nced two discoveries on Monday. A notice to the PSX info­rmed of hydrocarbon discovery in exploratory well, Bitro-I, in Latif Block loca­ted in Khairpur District, Sindh, by the Joint Venture Partners of the Latif Explo­ration Licence. The company holds 33.30pc working interest in the block. The second notice to the exchange related to hydrocarbon discovery in the first exploratory well, Margand X-I, in Margand Block (2866-4) that is operated by the company and holds 100pc interest in it.PPL SAID THAT IT WAS THE FIRST DISCOVERY…

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ISLAMABAD: Energy prices are rising consistently, so is the cost of doing business, which ultimately dents competitiveness of Pakistan. At the same time, the high prices are not enough to slash the growing circular debt in the energy chain. Though the government has taken measures to tackle the circular debt by curtailing losses of energy companies and checking power theft along with improved bill recoveries, the debt continues to plague the entire energy chain. The elimination of circular debt requires politically unpopular moves such as strict action against power theft and…

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CAIRO: Egypt will begin importing natural gas from Israel by mid-January 2020, Israeli Energy Minister Yuval Steinitz told Israel Radio on Sunday. “(The exports) will begin in the middle of next month and perhaps even earlier,” he said. Israeli gas exports to Egypt will gradually reach 7 billion cubic metres, a senior industry source, who earlier in the day disclosed a mid-January starting date, said. Steinitz said Egyptian petroleum minister Tarek El Molla had spoken to him two days ago and congratulated him on signing export permits for the gas. Egyptian company…

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KARACHI: The closure of CNG stations for a longer duration has proved to be a great burden on the pockets of consumers as rickshaw and taxi drivers are demanding exorbitant fares while peak factor on ride-hailing services has remained a constant irritant owing to lack of public transport. The current week also saw a huge rush of people at bus stops waiting for public transport vehicles as buses were taking too long to reach their designated stops because of being a few in numbers. A number of transporters had also…

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LAHORE: With a sudden drop in temperature across the country, the ongoing gas crisis deepened on Sunday as the total shortfall surged to 600 million metric cubic feet a day (MMCFD) that may compel the Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company (SSGC) to curtail the supply to sectors other than domestic consumers. The shortfall has affected not only the supply to domestic consumers but also to the Compressed Natural Gas (CNG) sector for the past several days. Addressing a press conference in Sialkot on Sunday, Special Assistant…

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