Tag: OGDCL

Mari Energies’ Ghotki Development Lease Renewed Until 2065

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Mari Energies’ Ghotki Development Lease Renewed Until 2065 KARACHI: The federal government has approved the renewal of the Mari Development and Production Lease (D&PL) in District Ghotki, Sindh, in favour of Mari Energies Limited, allowing the company to continue exploration and production activities at the field until 2065. According to a material information disclosure submitted by the company to the Pakistan Stock Exchange (PSX) on Friday, the lease has been renewed until November 10, 2065, subject to applicable rules and conditions. Mari Energies, formerly known as Mari Petroleum Company Limited,…

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Govt Sets Rs1.676 Trillion Petroleum Levy Target for FY2026-27

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Petrol-Diesel

Govt Sets Rs1.676 Trillion Petroleum Levy Target for FY2026-27 ISLAMABAD: The federal government has set a target of Rs1.676 trillion in petroleum levy collections for fiscal year 2026-27, based on an average levy of Rs80 per litre on petrol and high-speed diesel (HSD). Minister for Energy (Petroleum Division) Ali Pervaiz Malik disclosed the target in a written response submitted to the National Assembly on Friday. The minister said the petroleum levy had been reduced during a period of exceptional volatility in international oil markets to provide relief to consumers, but…

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Pakistan Refineries Approved to Export 185,000 Tonnes of Fuel Oil in August

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New-refinery

Pakistan Refineries Approved to Export 185,000 Tonnes of Fuel Oil in August KARACHI: Pakistan’s oil refineries have received regulatory approval to export around 185,000 metric tonnes of fuel oil in August, while maintaining strategic reserves to meet the requirements of the domestic power generation sector, according to notifications issued by the Oil and Gas Regulatory Authority (OGRA). Under separate approvals dated August 12, Pak-Arab Refinery Company (PARCO) has been permitted to export 50,000 tonnes, Cnergyico Pk. Ltd. 45,000 tonnes, Pakistan Refinery Ltd. (PRL) 40,000 tonnes and National Refinery Ltd. (NRL)…

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ADNOC Launches Ninth Spot Crude Tender Since June Amid Strait of Hormuz Disruptions

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New-Project32

ADNOC Launches Ninth Spot Crude Tender Since June Amid Strait of Hormuz Disruptions NEW DELHI/SINGAPORE: The Abu Dhabi National Oil Company (ADNOC) has launched its ninth spot crude tender since the beginning of June, offering Gulf-produced crude as the UAE state-owned oil giant seeks to move supplies from inside the Strait of Hormuz, according to trade sources. The latest tender includes Upper Zakum, Umm Lulu and Das crude, with cargoes available for loading in October and November. Bids are due by August 24 and will remain valid until August 26,…

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Pakistan seeks stable policies to unlock offshore exploration investment

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August 20, 2026 (MLN): Pakistan is seeking consistent and predictable energy policies to attract major investment in upstream exploration, particularly offshore projects, Federal Minister for Petroleum Ali Pervaiz Malik said on Thursday. Addressing the Energy Conference 2026, the minister said Pakistan was reviving offshore exploration after two decades under the leadership of Prime Minister Shehbaz Sharif, with friendly countries, Mari Petroleum, Pakistan Petroleum Limited (PPL) and Oil and Gas Development Company Limited (OGDCL) participating in the initiative. He said investors undertaking high-risk exploration required policy consistency and medium-term visibility, particularly when…

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