Tag: oil

Addicts Turn to Power Line Theft in Peshawar, Sparking Blackouts and Fatal Accidents

Admin
New-Project8

PESHAWAR, July 2025 — A disturbing trend has emerged in Peshawar, where drug addicts are now targeting high-voltage electricity cables for theft, posing grave risks to public safety and severely disrupting power supply across the city. According to the Peshawar Electric Supply Company (PESCO), millions of rupees worth of copper wires have been stolen in recent weeks. Thieves, often addicts armed with axes, operate under the cover of darkness in areas such as Chamkani, Doranpur, Northern Bypass, Motorway Toll Plaza, Budhni, Ring Road, Tehkal, Hazarkhwani, and GT Road. Unlike previous…

Read More

Oil steadies near three-week high on signs of tighter supply

Admin
Oil prices

LONDON: Oil prices steadied on Monday, holding close to their highest level in three weeks, as investors eyed further U.S. sanctions on Russia that may affect global supplies, while tariff uncertainty weighed. Brent crude futures rose 16 cents, or 0.2%, to $70.52 a barrel by 1326 GMT, while U.S. West Texas Intermediate crude futures climbed 12 cents, also 0.2%, to $68.57. Higher crude imports by China and expectations around U.S. President Donald Trump’s announcement on Russia are supporting prices, UBS analyst Giovanni Staunovo said. “There is still a perceived tightness…

Read More

Mari Energies to Acquire Stakes in Three Oil and Gas Blocks from Orient Petroleum

Admin
New-Mari

KARACHI: Mari Energies Ltd has entered into farm-out agreements with Orient Petroleum Inc (OPI) to acquire interests in three oil and gas blocks across Pakistan, marking a strategic expansion of its upstream portfolio. Under the agreements, Mari Energies will assume a 45% working interest and operatorship in the Marwat Block (Khyber Pakhtunkhwa) and the Harnai South Block (Balochistan). Additionally, the company will acquire a 20% non-operating working interest in the Ratana Development and Production Lease located in Punjab. The deal is subject to regulatory approvals, execution of assignment deeds with…

Read More

EPQL Urges Power Division to Expedite Gas Supply Approval from Badar Field

Admin
Engro Powergen Qadirpu

ISLAMABAD: Engro Powergen Qadirpur Limited (EPQL) has called on the Power Division to fast-track the approval of a Supplementary Agreement (SA) that would enable the use of low-BTU indigenous gas from the Badar-1 gas field, aiming to boost electricity generation and reduce reliance on costly imported fuels. In a letter to the Power Division, EPQL CEO Adeel Qamar highlighted the company’s successful track record, operating a 225-MW power plant primarily on permeate gas from the Qadirpur field under a Power Purchase Agreement (PPA) with CPPA-G since March 2010. To date,…

Read More

OGDCL Boosts Oil and Gas Production at Rajian-05 Well in Chakwal Through Successful ESP Installation

Admin
New-Project7

ISLAMABAD, July 7, 2025: Oil and Gas Development Company Limited (OGDCL) has successfully enhanced production at its Rajian well -05 in Chakwal district by installing an Electrical Submersible Pump (ESP), resulting in a significant increase in oil and gas output. Following a planned workover and ESP deployment, production from Rajian-05 has increased to 3,100 barrels of oil per day (BPD) and 1.0 million standard cubic feet per day (MMSCFD) of gas. Prior to this intervention, the well was producing 820 BPD of oil and 0.5 MMSCFD of gas. Rajian Field,…

Read More