Jul 6

Pakistan’s Oil and Gas Sector to Boost with $5 Billion Investment

Islamabad, July 6, 2024 – In a promising development for Pakistan’s energy sector, a delegation of local and international oil and gas exploration and production (E&P) companies announced a significant investment of $5 billion over the next three years. The announcement came during a meeting with Prime Minister Shehbaz Sharif at the Prime Minister’s House.

by Mrs. Anjum Shahnawaz

NRL Granted Mineral Exploration Lease in Balochistan

Oct 24

Trade & Industry

NRL Granted Mineral Exploration Lease in Balochistan

Quetta, October 24, 2023 – National Resources Limited (NRL) has been awarded an exploration lease for minerals in the Chagai district of Balochistan.

by Faisal Shahnawaz

Mari Petroleum signs exploration agreement

Jul 19

Energy

Mari Petroleum signs exploration agreement

KARACHI: Mari Petroleum Company Limited (MPCL) on Monday announced that it has executed a farm-in agreement. The company signed the with MOL Pakistan Oil and Gas Co. B.V. for acquisition of significant working interest in Margala Block. The company signed the deal to collaborate resources and efforts to jointly perform exploration activities. The Block is […]

by Faisal Shahnawaz

OGDCL-PPL awarded exploration rights of new block in Balochistan

Jan 29

Energy

OGDCL-PPL awarded exploration rights of new block in Balochistan

KARACHI: The government has provisionally awarded exploration rights of a new block situated in the Balochistan Province to a joint venture comprising Oil and Gas Development Company Limited (OGDCL) and Pakistan Petroleum Limited (PPL), a statement said on Friday. The statement issued by PPL said that the government had provisionally awarded a new block ‘Suleiman […]

by Mrs. Anjum Shahnawaz

Reduction in corporate rate for E&P companies recommended

May 13

Budget 2020-2021, Energy

Reduction in corporate rate for E&P companies recommended

KARACHI: Federal Board of Revenue (FBR) has been recommended to reduce the income tax rate for exploration and production (E&P) companies especially in wake of massive reduction in international oil prices. Overseas Investors Chamber of Commerce and Industry (OICCI) in its proposals for budget 2020/2021, said that higher corporate tax rate on exploration and production […]

by Mrs. Anjum Shahnawaz

Reduction in corporate tax for E&P companies recommended to attract foreign investment

May 26

2019-2020, Budget, Taxation, Trade & Industry

Reduction in corporate tax for E&P companies recommended to attract foreign investment

KARACHI: Federal Board of Revenue (FBR) has been recommended to reduce corporate tax rate for exploration and production companies in order attract foreign investment in this sector and generate more revenue for the country. The Overseas Investors Chamber of Commerce and Industry (OICCI) in its tax proposals for budget 2019/2020 said that the applicable tax […]

by Faisal Shahnawaz

New petroleum policy to offer incentives to foreign E&P companies: Imran Khan

May 22

Energy

New petroleum policy to offer incentives to foreign E&P companies: Imran Khan

ISLAMABAD: Prime Minister Imran Khan has said that the government is working on a new petroleum policy, which will offer incentives to foreign exploration and production (E&P) companies. The prime minister said this at a meeting with Chief Executive Officer Kuwait Petroleum Shaikh Nawaf Saud Al-Sabah, along with his delegation, which called on Prime Minister […]

by Faisal Shahnawaz

Income Tax Ordinance 2001: Computation of profits, gains from exploration, production of petroleum

Feb 10

Exclusive, Taxation

Income Tax Ordinance 2001: Computation of profits, gains from exploration, production of petroleum

KARACHI: The income tax law has explained separately for computation of profits and gains from exploration and production of petroleum in Pakistan.

by Mrs. Anjum Shahnawaz

Pakistan offers incentives to Chinese investors in oil, gas exploration

Jan 19

Energy

Pakistan offers incentives to Chinese investors in oil, gas exploration

ISLAMABAD: Pakistan on Friday offered incentives to Chinese investors interested in oil and gas exploration in a bid to further strengthen economic ties and foster collaboration.

by Mrs. Anjum Shahnawaz

KSE-100 gains 169 points on activities in E&P sector

Jan 10

Stock & Commodity

KSE-100 gains 169 points on activities in E&P sector

The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) closed with a gain of 169 points on Thursday, largely driven by increased activity in the exploration and production (E&P) sector.

by Mrs. Anjum Shahnawaz