Category: Shortcode

Mari Petroleum Company Limited has announced that the gas production from Zarghun South Gas Field, Balochistan has been resumed. The field is currently producing around 5mmscfd of gas which will be gradually ramped up to its optimum production rate, material information sent to Pakistan Stock Exchange on Wednesday said, adding that the gas is being supplied to Sui Southern Gas Company Limited (SSGCL). MPCL is the Operator of the Zarghun South Gas Field with a 35 percent working interest.

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Amid the IMF demand for hiking gas tariffs, the government has constituted a high-powered committee on Circular Debt Settlement Plan for gas sector companies with the mandate to devise a clear roadmap for erasing this monster within 10 days. The circular debt of the cash-bleeding gas sector has accumulated to Rs1,600 billion and has now gripped the gas sector after the failure of the government to erase this menace from the power sector. The committee has been constituted with the mandate of three major tasks including mapping of gas sector’s…

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The overall business confidence in Pakistan fell to minus four per cent, according to a survey of the Overseas Investors Chambers of Commerce and Industry (OICCI) conducted during September-October 2022. The business confidence score was low — 17pc — in the previous survey of March-April as well, but it was still positive. The OICCI says the decline in business confidence is not surprising “considering the highly challenging political and economic situation.” It was in April 2022 that PML-N-led coalition government came into power after toppling Imran Khan’s PTI-led coalition government through a…

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For the end consumer in Pakistan, the current tariff structure is uniform throughout the country. Still, it distinguishes between residential, commercial, industrial, agriculture, and customer categories. It is further divided by consumption level (tariff slabs), load, or time of use. The main reason behind a uniform tariff arrangement is political, allowing all consumers across the country to pay the same price, irrespective of service cost. This system inevitably benefits providers operating in areas where costs of provision are high because of high system losses. The design of cross-subsidization across different…

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In order to materialise the $4.5 billion oil refinery project in Gwadar, five-member delegation of Chinese Company “East Sea Group Limited (ESGL)” is visiting Gwadar, Gwadar Pro reported on Tuesday. ESGL official Jason Zhou said that ESGL chief engineer Liu along with other officials will be in Gwadar from December 20. The delegation consisting of technical team with marine engineering, commerce and petroleum professional background will be headed by Group’s General Manager Fang Haixia. Delegation will stay for three or four days in an effort to tune in conceptual and…

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