Category: Shortcode

Mari Petroleum Company Limited on Thursday announced a temporary suspension of production operations at its Zarghun South Gas Field and Ziarat Block after flash floods adversely impacted gas pipelines and road infrastructure in Balochistan. As per a notice sent to the Pakistan Stock Exchange (PSX), MPCL, which is the operator of Zarghun South Gas Field and Ziarat Block in Balochistan with 35% and 60% working interests, respectively, informed that ongoing torrential rains and flash floods in Balochistan have severely impacted the gas pipeline and road infrastructures around Zarghun South Gas…

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Pakistan was massively short of energy as there were 18 hours of blackouts across the country back in 2014. China has come to our support to overcome the energy crisis by adding clean and green energy to the national grid,” a Pakistani minister said.   ISLAMABAD, Sept. 9 (Xinhua) — Pakistan’s Minister for Power Khurram Dastgir Khan said on Thursday that power projects under the China-Pakistan Economic Corridor (CPEC) helped Pakistan in alleviating severe energy shortages while promoting renewable energy goals. “Pakistan was massively short of energy as there were…

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The federal government has finalized names for appointment of managing directors in Oil and Gas Development Company (OGDCL) and Pakistan Petroleum Limited (PPL), ARY NEWS reported. According to sources privy to the matter, it has been decided to appoint Zahid Mir as MD OGDCL while Imran Abbasi will be posted as MD PPL. “The federal cabinet has approved both the appointments through a circulation summary,” they said. In July 2018, Managing Director (MD) Oil and Gas Development Company Limited (OGDCL) Zahid Mir tendered resignation from the post over ongoing National Accountability…

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Asian spot liquefied natural gas (LNG) prices climbed to near record levels this week as Asian buyers sought to secure supply ahead of winter, narrowing the price spread with Europe where Russian gas flows remain curtailed. The average LNG price for September delivery into north-east Asia was estimated at $48 per million British thermal units (mmBtu), up $3, or 6.7%, from the previous week, industry sources said. The average price for October delivery was estimated at $51/mmBtu, exceeding Reuters estimated record levels seen in December at slightly over $48/mmBtu. “Prices…

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The Power Division has proposed imposition of surcharge at Rs 1.52 per unit on consumers of K-Electric (KE) to recover an amount of Rs 204 billion as pending Quarterly Tariff Adjustments (QTAs) in 12 months, well-informed sources told Business Recorder. According to available details background of the case was discussed by the ECC in its meeting March 26, 2020 and September 21, 2021. The ECC in both the meetings discussed and decided that the Nepra may work out a mechanism to recover the amounts due on account of pending quarterly tariff…

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