Karachi, December 24, 2024 – The Oil and Gas Development Company Limited (OGDCL) has successfully revived hydrocarbon production from the Dars West-2 Well by tapping into a new interval, the B-Sand of the Lower Goru Formation. This significant milestone showcases OGDCL’s innovative approach and its commitment to enhancing hydrocarbon recovery through advanced, rigless interventions.
(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.
-
OGDCL Optimizes Rajian Field, Enhances Oil Output
Karachi, December 16, 2024 – Oil and Gas Development Company Limited (OGDCL) has successfully restored production at a heavy oil well located within its Northern Region field, marking a significant milestone in the company’s efforts to enhance output and operational efficiency.
(more…) -
Pakistan Revises Petroleum Prices for Final Fortnight of 2024
Islamabad, December 16, 2024 – Pakistan has announced a revision in petroleum prices for the final fortnight of the year 2024. According to a statement issued by the Finance Division, the price of petroleum-based petrol will remain unchanged at Rs252.10 per litre for the next two weeks. However, the government has reduced the prices of high-speed diesel (HSD), kerosene, and light diesel oil (LDO), providing some relief to consumers.
(more…) -
OGDCL Discovers Gas and Condensate in Khyber Pakhtunkhwa
Karachi, December 13, 2024 – Oil and Gas Development Company Limited (OGDCL) has made a significant breakthrough with the discovery of gas and condensate in the Khyber Pakhtunkhwa (KPK) province, a promising development for Pakistan’s energy sector.
(more…) -
Pakistan Secures $200M ADB Loan for Electricity Improvements
The Asian Development Bank (ADB) has approved a $200 million loan to support Pakistan in modernizing its power distribution infrastructure and enhancing the capacity of distribution companies to provide reliable electricity.
(more…) -
KE Faces Strong Reaction from Traders
KARACHI: Traders in the city have issued a stern warning to K-Electric (KE) against recovering its outstanding dues of Rs68 billion from compliant bill-paying citizens and businesses, threatening widespread protests if such an attempt is made.
(more…) -
Latest Petrol and Diesel Prices in Pakistan as of December 9, 2024
As of December 9, 2024, the latest petrol and diesel prices in Pakistan remain unchanged from the adjustments made on December 1, 2024, and will stay in effect until December 15, 2024.
(more…) -
Pakistan Rebuffs Reports of Discounted Oil Deal with Russia
Islamabad, December 4, 2024 – Petroleum Minister Musadik Malik on Wednesday categorically denied reports suggesting that Pakistan and Russia had reached an agreement for the supply of discounted crude oil.
(more…) -
Latest Petroleum Price Hike Driven by Taxes and OMC Margins
The recent increase in petroleum product prices in Pakistan has been attributed to multiple factors, including taxes and Oil Marketing Companies’ (OMCs) margins, which collectively account for 68% of the ex-depot prices. Effective December 1, 2024, petrol prices rose by Rs 3.72 per litre to Rs 252.10, while High-Speed Diesel (HSD) saw a hike of Rs 3.29, now costing Rs 258.43 per litre.
(more…) -
Petroleum Sales Surge to 25-Month High in November 2024
Karachi, December 3, 2024 – Pakistan’s petroleum sales climbed to a remarkable 25-month high of 1.58 million tons in November 2024, marking a 15% year-on-year (YoY) increase, according to analysts at Arif Habib Limited. This significant growth is attributed to heightened demand driven by curbs on smuggled Iranian petroleum products and a 12-15% YoY reduction in motor spirit (MS) and high-speed diesel (HSD) prices, respectively.
(more…)