Category: Shortcode

Output to reach 50,000 bpd: OGDCL

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Oil-and-Gas

ISLAMABAD: State-run hydrocarbon exploration firm Oil and Gas Development Company Limited (OGDCL) is targeting to boost crude oil production to 50,000 barrels per day (bpd) to meet more consumer demand, which will help curtail imports as Pakistan is facing a dearth of US dollars. Soon after assuming charge as OGDCL Managing Director, Ahmed Hayat Lak formed a working group on production optimisation to ramp up energy output by optimally utilising modern technologies. This dedicated group is putting greater emphasis on individual wells and fields to increase oil and gas production…

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Power sector’s sustainability linked with tough moves

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Waseem-Mukhtar

LAHORE: National Elec­­­tric Power Regulatory Authority (Nepra) Chair­man Waseem Mukhtar has said there was no other option but to take some harsh decisions to make the power sector sustainable. Talking to the media after attending an energy conference on Saturday, the power sector regulator head said the situation has reached a point where such decisions have be­­come imperative for the government and people should support the government. “If we have to make this sector sustainable and stop any further increase in tariff, there are only [three] ways: stop power theft,…

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Fuel price hike likely to ‘disrupt’ SBP inflation range

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petrol-price

KARACHI: The unexpected massive increase in petrol and diesel prices was widely felt as inflationary at the retail level and the State Bank of Pakistan (SBP) may have to review its decision of leaving the key interest rate unchanged. Many analysts believe that the inflation would be in the range of 30-31 per cent in the ongoing month which is against the SBP’s expectation to bring it down to 20-22pc. After keeping its policy rate unchanged at 22pc by the central bank on Sept 14, the government increased the petroleum prices by over Rs26…

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Missed opportunities of delayed oil refining policy

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fuel-oil

KARACHI: Timing is of the essence in policymaking. A well-timed decision can yield optimal results. Although delays might bring benefits, they can also do considerable damage. Reflecting on the recently introduced oil refining policy for both existing and new projects, one can’t help but wonder about the lost opportunities that might have been seized with more proactive decision-making. Currently, Pakistan has five oil refineries with a combined potential to produce approximately 20 million tonnes of petroleum products annually, including diesel, petrol, furnace oil, and jet fuel. However, a myriad of…

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Chinese firm to establish electric vehicle plant in Pakistan

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electric-vehicles

ISLAMABAD: A Chin­ese electric car manufacturing company has announced establishing an electric vehicle (EV) plant in Pakistan and chain of showrooms in major cities of the country. This announcement was made by a delegation of XinjianJingyi Cheng Group, led by its assistant chairman GU Xongquan, during a meeting with FPCCI Vice President Amin Ullah Baig here on Thursday. Mr Baig, who is also chairman of the FPCCI Capital Office, held an extensive discussion with the Chinese firm’s team on the investment landscape of Pakistan. Mr GU said entering the Pakistani…

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