Islamabad, October 9, 2024 – In a transformative step towards revolutionizing Pakistan’s electricity market, the Cabinet Committee on Energy has officially approved the establishment of an Independent System and Market Operator (ISMO).
(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 Reaches Momentous Settlement with Iraqi Oil Company
Karachi, October 7, 2024 – Pakistan Petroleum Limited (PPL) has disclosed the successful conclusion of a long-standing contractual matter with Midland Oil Company (MdOC) of Iraq, culminating in a strategic settlement agreement concerning Block-8 in Iraq.
(more…) -
MD OGDCL Unveils 12% Revenue Growth and Key Discoveries
Karachi, October 4, 2024 — Oil and Gas Development Company Limited (OGDCL), Pakistan’s leading exploration and production (E&P) company, has announced a 12% annual increase in sales revenue for the fiscal year 2023-24, according to CEO and Managing Director Ahmed Hayat Lak.
(more…) -
Pakistan’s Petroleum Sales Surge by 20% YoY in September 2024
Karachi, October 1, 2024 – Pakistan’s petroleum sales witnessed a significant surge of 20% year-on-year (YoY) in September 2024, reaching a total of 1.27 million tons, according to data released by analysts at Arif Habib Limited.
(more…) -
Oil Prices Surge 5% Following Iran’s Missile Strike on Israel
Oil prices surged nearly 5% on Tuesday in response to escalating geopolitical tensions after Iran launched a barrage of missiles toward Israel. This action has sent shockwaves through the energy market, intensifying concerns over the stability of oil supplies from the Middle East.
(more…) -
Pakistan Slashes Petroleum Prices for October’s First Fortnight
Islamabad, September 30, 2024 – In a welcome development for consumers, Pakistan’s federal government announced a significant reduction in petroleum prices for the first half of October 2024.
(more…) -
Today Petroleum Prices in Pakistan – September 30, 2024
Karachi, September 30, 2024 – As of today, the petroleum prices in Pakistan remain as follows: Petrol at Rs 249.10 per liter, High-Speed Diesel (HSD) at Rs 249.69 per liter, Kerosene at Rs 158.47 per liter, and Light Diesel Oil (LDO) at Rs 141.93 per liter.
(more…) -
Pakistan May Reduce Petroleum Prices from October 1, 2024
Islamabad, September 28, 2024 – Pakistan is expected to announce a reduction in petroleum prices starting October 1, 2024, in response to declining international oil prices. However, the reduction may not extend to petrol, which is likely to remain at its current price levels, according to government sources.
(more…) -
OGDCL Announces New Gas Discovery in Khairpur District, Sindh
Karachi, September 25, 2024 – The Oil and Gas Development Company Limited (OGDCL) has announced a significant gas discovery in the Sawan South Block at the Akhiro-1 Exploratory Well located in the Khairpur district of Sindh. This new find is expected to bolster Pakistan’s energy sector and contribute to the country’s growing demand for indigenous energy resources.
(more…) -
Mari Petroleum Announces Rs 10 Billion Equity Investment
Karachi, September 24, 2024 – Mari Petroleum Company Limited (MPCL) has announced a significant equity investment of Rs 10 billion into a newly proposed subsidiary company. This move is part of the company’s broader strategy to diversify its business portfolio and explore emerging sectors beyond its traditional focus on petroleum exploration and production.
(more…)