Islamabad, February 26, 2026 – The Government of Pakistan has taken a major step to boost domestic energy production by awarding 11 onshore oil and gas blocks to leading national companies, securing a minimum committed investment of Rs8.66 billion (USD 31 million) over the next three years.
(more…)Category: Energy
You can go through stories related to energy. The stories are about changes in petroleum prices and updates on energy sector of Pakistan and world.
-
PPL settles disputes with Descon over two major EPCC projects
Karachi, February 26, 2026: Pakistan Petroleum Limited (PPL) on Thursday announced that it has reached an amicable settlement with Presson Descon International (Private) Limited (PDIL) and Descon Engineering Limited (DEL) to resolve long-standing disputes related to two major Engineering, Procurement, Construction, and Commissioning (EPCC) projects.
(more…) -
HUBCO posts 152% surge in net profit for 2QFY26, announces PKR 5/share dividend
Karachi, February 24, 2026 — The Hub Power Company Limited (HUBCO) has reported a robust financial performance for the second quarter of fiscal year 2025-26 (2QFY26), posting a 152% year-on-year (YoY) jump in profit after tax (PAT) to PKR 10.6 billion, translating into earnings per share (EPS) of PKR 8.2, compared with PKR 4.2 billion (EPS: PKR 3.2) in the same period last year.
(more…) -
OGDCL suffers 16% fall in net profit in second quarter of FY26
Karachi, February 23, 2026 – Oil and Gas Development Company Limited (OGDCL) on Monday reported a 16% year-on-year decline in net profit for the second quarter of fiscal year 2026, primarily due to lower gas production, rising operating costs, and higher exploration expenses.
(more…) -
Government to cut taxes to lower electricity tariffs: Awais Leghari
Dera Ghazi Khan, February 22, 2026 – Federal Minister for Power Awais Leghari on Saturday said the government is actively working to reduce electricity tariffs by cutting taxes, aiming to provide tangible relief to households, businesses, and industries struggling with rising energy costs.
(more…) -
Industry gets Rs12.13 billion electricity relief in two months under surplus package
Islamabad, February 21, 2026 — The Power Division announced that industrial consumers in Pakistan received electricity tariff relief worth Rs12.125 billion during December 2025 and January 2026 under the government’s Industrial Surplus Electricity Package.
(more…) -
Pakistan petroleum discovers new hydrocarbons from Lumshiwal Formation
Pakistan Petroleum Limited (PPL) on Friday announced a fresh oil and gas discovery from the Lumshiwal Formation at the exploratory well Baragzai X-01 (Slant), located in the partner-operated Nashpa Block in district Kohat, Khyber Pakhtunkhwa.
(more…) -
OGDCL discovers gas and condensate at Tando Allah Yar, Sindh
Islamabad, February 19, 2026 — Oil and Gas Development Company Limited (OGDCL), Pakistan’s leading exploration and production company, has announced a significant gas and condensate discovery at its Dars West-3 well in Tando Allah Yar, Sindh.
(more…) -
Pakistan Petroleum in tax tug-of-war as FBR slaps multi-billion rupee notices
Karachi, February 19, 2026 – Pakistan Petroleum Limited (PPL) has disclosed that it is contesting tax demand notices worth billions of rupees issued by the Federal Board of Revenue (FBR), according to the company’s financial statements for the half year ended December 31, 2025.
(more…) -
Minister directs DISCOs to ensure uninterrupted electricity during Ramazan
Islamabad — Federal Minister for Power Awais Ahmed Khan Leghari on Tuesday directed all power distribution companies (DISCOs), including K-Electric, to guarantee uninterrupted electricity supply during Sehri and Iftar in the holy month of Ramazan.
(more…)