Category: Shortcode

The Federal Government has decided to amend Petroleum Concession Agreement (PCA), allowing a Chinese company, China ZhenHua Oil, to maintain 17.50 share of Baska Block and transfer 82.50 working interests to Pakistan Petroleum Limited (PPL). According to Petroleum Division, Baska Exploration Licence was granted over block number (3020-13) (Zone-II) covering an areas of 2,442 sq kilometres located in districts D I Khan and Musa Kehl and D G Khan to M/s China ZhenHua Oil from March 29, 2007, in accordance with the terms of Petroleum Policy 2001 and Pakistan Petroleum…

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Pakistan is expected to approve a gas pricing policy this year that would drive up domestic costs for the urea industry and enable it to export, the chief executive of Engro Fertilizers told Reuters. Pakistan’s parliament last week passed a bill, which has yet to be enacted, to shift gas pricing to the weighted average cost of gas (WAGOC). The legislation would unify pricing, and address shortages in the natural gas sector. CEO Nadir Qureshi said in an interview he believed there was a will to finalise the law this…

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Pakistan is expected to approve a gas pricing policy this year that would drive up domestic costs for the urea industry and enable it to export, the chief executive of Engro Fertilizers told Reuters. Pakistan’s parliament last week passed a bill, which has yet to be enacted, to shift gas pricing to the weighted average cost of gas (WAGOC). The legislation would unify pricing, and address shortages in the natural gas sector. CEO Nadir Qureshi said in an interview he believed there was a will to finalise the law this…

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Pakistan’s eatable import bill surged by 21.32 per cent to $5.63 billion in the July-January period compared to $4.64bn in the corresponding period last year owing to higher international prices and massive depreciation of the rupee. The growth in food import bill was seen to bridge the shortfall of eatables in the domestic market. The share of eatables in the total import bill also posted growth during the current fiscal year. The total import bill reached $46.62bn in the first seven months of this fiscal year against $29.26bn over the…

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Pakistan Petroleum Limited disclosed that it has made a hydrocarbon discovery from exploratory well, Mohar-1, in the Latif Block (the “Block”) in Sindh, in a notice sent to the Pakistan Stock Exchange (PSX) on Monday. PPL holds a 33.30% working interest, Eni Pakistan Limited holds 33.30% and United Energy Pakistan Limited (UEPL), formerly known as BP Pakistan, which is an operator of the block, holds the remaining 33.40% working interest in the block. “The well was drilled and tested using the operator’s internal expertise and in consultation with the Block’s…

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