Category: Shortcode

Four new exploration blocks in Balochistan have been provisionally awarded to Mari Petroleum Company Limited (MARI), Pakistan Petroleum Limited (PPL), and Oil and Gas Development Company Limited (OGDCL) by the Ministry of Energy’s Directorate General of Petroleum Concessions (DGPC). The E&P companies informed the Pakistan Stock Exchange (PSX) of this on Tuesday. “The Government of Pakistan has provisionally awarded four new blocks (Shaigalu, South Pishin, Tanishpa, and Lugai) to joint ventures of PPL, OGDCL and MARI,” said PPL in its notice, of which two blocks will be operated by ODGCL,…

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Winters are approaching, in fact are there already. There is usually higher gas demand in winters due to heating and later heating requirements. Local gas supplies have been decreasing 10% per year. In the last few years, LNG filled quite some gap and used to be quite affordable. As is common knowledge, there is energy and especially gas crisis all over the world. Suppliers are not responding to our tenders due to the tight supply situation. Europe is a large well-paying market. LNG is not available at right prices. As…

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The Ministry of Energy’s Petroleum Division on Tuesday dismissed reports over an impending fuel shortage, terming the news “contrary to facts”. The ministry in a post on its Twitter handle informed that as of November 7, 2022, petrol stocks were around 550,000 metric tons (MT), which is sufficient for 21 days. “Diesel stocks are 438,000MT, adequate for 15 days, based on Oil Companies Advisory Council’s (OCAC) stock position,” it said. Earlier on Tuesday, the Oil and Gas Regulatory Authority (OGRA) regarding the looming shortage of diesel stocks in the country.…

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Two state-owned energy companies announced separately on Tuesday they’ll seek approval from their respective shareholders to subscribe to 33.3 per cent shares of Pakistan Minerals Ltd for taking part in the reconstituted Reko Diq project. The reconstituted project, which will excavate gold and copper reserves in Balochistan, has saved the country from an $11 billion penalty in the Reko Diq case. Pakistan Minerals Ltd will then buy a 25pc shareholding in Tethyan Copper Company Pakistan Ltd — to be re-named as Reko Diq Mining Company Ltd — from its present…

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M/s Foundation Power Company Daharki Limited (FPCDL) has expressed willingness for an out of court arbitration with CPPA-G/ GoP with no obligation, liability or claim towards/ or by either party. This message has been conveyed by CEO/ MD FPCDL, Major General, Muhammad Junaid (retired) in a letter to Power Division. The Company had entered into a certain Master Agreement on February 11, 2021 with the Central Power Purchasing Agency-Guarantee Limited (CPPA-G). As per Clause 8 of the Master Agreement titled “alleged savings, the resolution of the dispute as to alleged…

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