Category: Recent Post

Oil & Gas Development Company Limited (OGDCL) as operator with (50%share), Mari Petroleum Company Limited (MPCL) (33.33%) & Saif Energy Limited(SEL)(16.67%) in joint venture of Kohat Exploration Licence (E.L) has started commercial production of Gas and Condensate from its exploratory well Togh # 01, which is located in district Kohat, Khyber Pakhtunkhwa Province. OGDCL indigenously completed 8” inch dia, 3.5 Km flow line from |Togh Well # 01 to Sheikhan Well # 01. The well head assembly and other allied facilities includinggathering area, separation facility, dehydration plant, storage facility, dispatch…

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ISLAMABAD: After months of speculation, the government removed Secretary Power Irfan Ali on Tuesday following his disagreements with key authorities over a number of contentious issues, including net hydel profit (NHP) to provinces, unending circular debt, the procedure for induction of future power projects and ongoing problems with K-Electric. A grade-22 officer of the Pakistan Administrative Service, Mr Ali was made an officer on special duty (OSD) and directed to report to the Establishment Division. He was immediately replaced by another PAS officer of same grade Omar Rasool who was…

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Bus ride-hailing service Airlift has raised an impressive $10 million in Series A-1 financing, taking its total investment to $24.1m, its co-founder and CEO Usman Gul said in a statement. “At a time of mass turbulence in capital markets, Airlift’s Series A-1 round marks one of the largest capital investments in the region,” Gul said in a statement posted on Medium. “We are thrilled to partner with investors who share our vision for building decentralised platforms to introduce easier, faster and more efficient ways of moving people and goods around urban…

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KARACHI: K-Electric (KE) has received a fresh Public Announcement of Intention (PAI) from Shanghai Electric to acquire 66.4 per cent voting shares of KE. As per documents, Shanghai Electric intends to acquire 18,335,542,678 ordinary shares of KE, which is equivalent to 66.4 per cent of KE’s total issued share capital. The intended acquisition entails a purchase of 66.4 per cent of shares through agreement and a purchase of 16.8 per cent of shares through a public offer. KE’s share price quoted on the Pakistan Stock Exchange (PSX) a day before the…

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Belgium has surpassed Denmark in terms of the installed offshore wind capacity and is now ranked fourth in the world, Belgian Offshore Platform (BOP) said. Following the commissioning of the 219 MW Northwester 2 wind farm in May, Belgium now has 1,775 MW of installed offshore wind capacity, compared to Denmark’s 1,703 MW. The United Kingdom is at the top of the list with 10,428 MW of installed capacity, Germany is second with 7,659 MW, and China third with 7,000 MW. With its 1,775 MW production capacity, wind power in…

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