Category: Shortcode

NPGCL Board Reinstates CEO Sabeeh Uz Zaman Faruqui

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New-NPGCL

ISLAMABAD: In a move contrary to Prime Minister Shehbaz Sharif’s directives, the Northern Power Generation Company Limited (NPGCL) Board has reinstated Sabeeh Uz Zaman Faruqui as CEO to leverage his expertise amid operational challenges. On December 20, 2024, the Prime Minister had suspended the CEOs of three Generation Companies (GENCOs), including Faruqui (GENCO-III), for hindering the disposal of dead assets and delaying human resource restructuring. Despite this, the NPGCL Board, following a formal inquiry, exonerated and reinstated Faruqui on January 3, 2025. Chairman of the NPGCL Board, Tabrez Aslam Shami,…

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Russia Warns New US Energy Sanctions Will Destabilize Global Markets

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New-Russia

MOSCOW: The Kremlin has criticized the latest US sanctions targeting the Russian energy sector, warning of potential destabilization of global oil markets. Moscow vowed to take measures to mitigate the impact of the sanctions, which were announced on Friday. “These actions by the United States are an attempt to undermine our companies through non-competitive means, but we are confident in our ability to counteract them,” Kremlin spokesman Dmitry Peskov stated. Peskov cautioned that such sanctions would inevitably disrupt international energy and oil markets. “We will closely monitor the repercussions and…

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Petrol, Diesel Prices Set to Rise by Rs6 per Litre

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Petrol-oil

ISLAMABAD: The prices of petroleum products, including high-speed diesel (HSD), petrol, and kerosene, are expected to increase by up to Rs6 per litre starting Wednesday, owing to a surge in international oil prices. Sources indicate that petrol prices may rise by Rs5-6 per litre, while kerosene and diesel prices are likely to increase by Rs3 and Rs2 per litre, respectively. The exact adjustment will be finalized by January 15. The upward trend follows a rebound in global oil markets, fueled by geopolitical tensions after US President-elect Donald Trump’s threats of…

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Pakistani delegation led by Dr Musadik Malik will showcase the mining potential at Future Mineral Forum, Riyadh

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Coal-Minig

January 13, 2025: Pakistan’s Minister of Petroleum and Water Resources Dr. Musadiq Malik alongside key policymakers, state-owned entities and industry leaders will represent Pakistan at the Future Minerals Forum (FMF) in Riyadh from the 14-16th of January. The delegation, including prominentcompanies like Pakistan Petroleum Limited, Oil and Gas Development Company Limited, MariEnergies, Government Holdings (Private) Limited, Pakistan Minerals (Private) Limited, Saindak MetalsLimited, Pakistan Mineral Development Corporation, Balochistan Mineral Resource Limited, BolanMining Enterprises, Wah Nobel, HTMA Private Limited and BIAFO Industries Limited, aims to unlockthe country’s mining potential and foster international…

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OGDCL Unveils Ambitious Plan for Shale and Tight Gas Production

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ISLAMABAD: The Oil and Gas Development Company Limited (OGDCL) has announced an aggressive exploration and production (E&P) strategy, focusing on 10 unconventional wells for shale and tight gas, alongside enhanced activities in conventional gas fields. A key highlight is the initiation of E&P efforts in Balochistan, with special attention on the Zin block, which boasts confirmed reserves of 840 billion cubic feet per day (bcfd). The company is also advancing its shale gas pilot project at KUC-1 in Hyderabad, Sindh, where promising reservoirs have been identified. OGDCL has partnered with…

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