Category: Shortcode

Mari Petroleum successfully drills appraisal well in Sindh

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Mari-Petroleum

Mari Petroleum Company Limited (MARI), one of Pakistan’s largest energy and exploration companies, has successfully drilled and tested the appraisal well Mari Ghazij-l, located in Mari D&PL, Sindh. The company shared the development in its notice to the Pakistan Stock Exchange (PSX) on Monday. Back in January, the E&P company discovered gas at its exploratory well Mari Ghazij-l, located in Mari D&PL. “As part of the appraisal plan of the discovery, MARI has successfully drilled and tested the appraisal well Mari Ghazij-2 in Mari D&PL area,” the company shared in…

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CCOE likely to curtail free power facility

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free-power

ISLAMABAD: The cabinet committee on energy (CCoE) will today (Tuesday) do away with the free electricity units allotted to officers of 17-21 grades in electric power distribution companies (DISCOs), Generation Companies (GENCOs), Wapda Hydel Company, NTDC, and PITC and save Rs6 billion annually. However, the employees up to grade 16 will continue to have the facility of free electricity. Nonetheless, the free units allotted to 17-21 grade officials will be monetized. The monetization has been fixed to the amounts and there will be no change even if the power rates…

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Cheap power during winter months: Package for industry on the cards

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Power-control

ISLAMABAD: The federal government is working on a four-month “winter package” for industry on incremental consumption basis aimed at providing cheap electricity during the winter months, which will not only improve industrial growth but also reduce burden of capacity payment of power plants, well informed sources told Business Recorder. The winter package will be applicable across the country including K-Electric jurisdiction, after formal approval of the federal cabinet and International Monetary Fund (IMF). The impact of incremental package will be around Rs 25 billion but the key question remains: who would…

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Pakistan finds indications of shale gas presence in well

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gaspipeline_akhbar

ISLAMABAD: Amid declining natural gas production by 8-9 percent annually, the country has found promising indications of the presence of heavy reservoirs of shale gas at the pilot well KUC-1, Hyderabad, Sindh. The project was initiated by the Oil and Gas Development Company Limited (OGDCL) in 2020. As per a USAID study, more than 3,000 TCF (trillion cubic feet) shale gas resources exist in various shale horizons of Pakistan. “We have vertically dug the well and discovered two layers of rocks containing shale gas and OGDCL experts will further vertically…

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Opec leaders make case for fossil fuels at climate event

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Saudi-Energy

RIYADH: Opec heavyweights said on Sunday oil and gas should not be stigmatised in the climate debate and that the industry had a role to play in an orderly energy transition. Energy ministers from Saudi Arabia, the United Arab Emirates and Iraq, the three largest members of the Opec, have gathered in the Saudi capital Riyadh for the UN MENA climate week. “The three of us here as major hydrocarbon producers also have a responsibility to the world to provide the transition with enough hydrocarbon reso­urces to make sure we…

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