ECC constitutes price negotiation committee for TAPI gas pipeline project

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Wednesday approved the constitution of Price Negotiation Committee (PNC) for TAPI(Turkmenistan-Afghanistan-Pakistan-India) Gas pipeline project. Read more »

POL prices increased up to Rs3.10/liter

ISLAMABAD: The government has increased the prices of petroleum products (POL) up to Rs3.10 per liter effective from January 01, 2020. Read more »

PPL announces major discoveries of hydrocarbons in Sindh, Balochistan

KARACHI: Pakistan Petroleum Limited (PPL) has announced major discoveries of hydrocarbons in Sindh and Blochistan, according to notifications received by Pakistan Stock Exchange (PSX) on Monday. Read more »

K-Electric warns of crisis on non-payment of dues by Sindh departments

KARACHI: K-Electric – the power generation and distribution company – has demanded the Sindh government to pay the dues on urgent basis as non-payment will result into potential crisis for Karachi city. Read more »

Customs intelligence recovers Rs221.7 million from OGDCL for claiming wrong exemption

KARACHI: Directorate of Customs Intelligence and Investigation, Karachi has recovered Rs221.7 million from Oil and Gas Development Company Limited (OGDCL) against avoiding payment of duty and taxes on import of seamless pipes. Read more »

SRB suspends sales tax registration of Burshane Petroleum

KARACHI: Sindh Revenue Board (SRB) has suspended sales tax registration of M/s. Burshane Petroleum Private Limited for defaulting payments for eight months and non-compliance of return filing for the same period. Read more »

PPL plans to spud 20 exploratory, developmental wells

KARACHI: Pakistan Petroleum Limited (PPL) has planned to spud 20 wells during fiscal year 2019/2020 out of which half of wells are exploratory and remaining are developmental. Read more »

OGDCL clarifies shale gas discovery

KARACHI: Oil and Gas Development Company Limited (OGDCL) on Monday clarified media reports regarding huge discovery of shale gas in Sindh. Read more »

World Bank’s IFC signs financing agreement to build six power projects in Pakistan

ISLAMABAD: IFC, a member of the World Bank Group, has signed a financing agreement of $450 million to build six wind power projects in Pakistan. Read more »

PPL announces highest-ever Rs61.6 billion after tax profit with record 11 discoveries

KARACHI: Pakistan Petroleum Limited (PPL) has posted the highest-ever Rs61.6 billion after tax profit with a record number of 11 discoveries during financial year ended June 30, 2019. Read more »

Mari Petroleum sets up subsidiary at Dubai Free Zone

KARACHI: Mari Petroleum Company Limited (MPCL) has announced establishment of a wholly owned subsidiary company at Dubai Free Zone for expansion of operations. Read more »

PM inaugurates CPHGC 1320MW Coal-fired Power Plant

KARACHI: Prime Minister Imran Khan on Monday inaugurated CPHGC 1320MW Coal-fired Power Plant, Hub, Balochistan and said that more collaborations on the same pattern may be seen in future. Read more »