ISLAMABAD: Pakistan is set to revise petroleum prices for the second half of April 2023 on Saturday April 15, 2023, and experts believe that domestic prices may increase.
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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.
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Mari Petroleum enters into gas processing contract
Mari Petroleum Company Limited (MPCL), a major oil and gas exploration and production company in Pakistan, has signed a Gas Processing Contract with Orient Petroleum Inc (OPI) for the provision of Early Production Facilities (EPF) on a turnkey basis for the Shewa-I Discovery in the Waziristan Block, said a statement issued on Thursday.
This comes after MPCL announced a gas and condensate discovery at the Shewa-I (formerly Bannu West-l) Exploration Well in the KP Province earlier this year. Under the terms of the contract, OPI will also provide Operations and Maintenance (O&M) services for 24 months from the start of production, with MPCL having the option to purchase the EPF equipment.
MPCL is the operator of the Waziristan Block with a 55% working interest, while OGDCL and OPI are joint venture partners with a working interest of 35% and 10%, respectively. The EPF will be crucial in processing the gas and condensate for commercial use, and OPI’s expertise in providing these services will help ensure efficient and safe production.
The gas and condensate discovery at Shewa-I has been a significant development for MPCL, as it contributes to the country’s growing energy demands. In addition to Shewa-I, MPCL also made a gas and condensate discovery in the Bannu West Block earlier this year.
MPCL is committed to the development of Pakistan’s oil and gas resources, and partnerships with companies like OPI are key in maximizing the potential of these reserves. The gas processing contract is expected to help MPCL move towards full-scale commercial production of the reserves in the Shewa-I Discovery, further contributing to Pakistan’s energy security.
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Pakistan to adjust petroleum prices from April 16, 2023
Pakistan is set to revise petroleum prices for the second half of April 2023, and experts believe that domestic prices may increase due to the decline in the value of the Pakistani rupee against the US dollar and an increase in international oil prices over the past few weeks.
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Pakistan makes ready to issue new petroleum prices on April 15, 2023
Pakistan is making ready to issue new petroleum prices on April 15, 2023 for next fortnight starting Aril 16, 2023.
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Pakistan makes unprecedented hike in petroleum prices over one year
Official documents released on Friday revealed that Pakistan has experienced an unprecedented increase in petroleum prices over the past year.
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Pakistan nears to provide low-priced petrol
KARACHI: Pakistan has prepared working for provide low-priced petrol to lower-income group of the society, a minister said on Wednesday.
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Retail petroleum prices in Pakistan for 1st fortnight of April
Pakistan State Oil (PSO) has issued retail prices of petroleum products for first fortnight of April 2023 i.e. from April 01 to April 15.
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Pakistan’s March petroleum sales slump 35-month low
Pakistan’s petroleum sales have slumped 35-month low in March 2023 owing to slowdown in overall economic activity.
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Pakistan Petroleum announces gas discovery in Sindh
Pakistan Petroleum Limited (PPL) on Monday announced gas discovery at its Kirthar Block, located in District Dadu, Sindh Province.
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Ministry debunks petroleum prices circulating on social media
The finance ministry on Sunday debunked a circulating social media notification claiming an increase in petroleum prices as ‘fake.’
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