The Economic Coordination Committee (ECC) has agreed to increase the gas tariff for captive power plants while maintaining local consumer rates without change. The decision was taken during a meeting on Saturday, chaired by the Federal Minister of Finance, Mohamed Orangezib. The gas tariff for captive power plants has been raised from Ru rupe. 3000 … Read more
Oil and Gas Development Company Limited (OGDCL) has announced a significant increase in its operating interest in the Qadirpur Development and Production Lease (D&PL) through a farm-in agreement with KUFPEC Pakistan B.V. The energy giant revealed this development through a notice addressed to the Pakistan Stock Exchange (PSX) on Thursday. The move boosts OGDCL’s stake … Read more
The new year begins with another development in the war between Ukraine and Russia, the gas war in Europe. Before Russia launched its full-scale invasion of Ukraine in 2022, Russia was the EU’s largest supplier of natural gas. The EU (and to a lesser extent the wider European bloc) has thus reduced Russia’s share of … Read more
MOL Pakistan’s gas sale deal with Universal Gas Distribution Company Ltd (UGDCL) from the newly developed Razgir field has drawn criticism from its joint venture partners and other private gas distribution companies, who claim that the gas sale bypassed the mandatory competitive bidding process. dawn I mentioned. This is the first deal of its kind … Read more
In a move that makes some progress towards tackling rising circular debt in Pakistan’s gas sector, the Oil and Gas Regulatory Authority (OGRA) has approved significant price increases for the country’s two major gas distribution companies. The decision, announced on December 18, 2024, allows Sui Northern Gas Pipelines (SNGP) and Sui Southern Gas Company (SSGC) … Read more
Oil and Gas Development Corporation Limited (OGDCL) announced on Thursday that the Kunar West 3 well in Sindh has successfully commenced production at a wellhead flow pressure (WHFP) of 1,200 psi with a choke size of 32/64”. According to a filing with the Pakistan Stock Exchange (PSX), the West Kunar field is part of the … Read more
The Oil and Gas Regulatory Authority (OGRA) has recommended an increase in gas prices for the current financial year, with separate adjustments for Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company (SSGC). Under the requirement set by the International Monetary Fund (IMF) for timely notification of gas tariffs. According to media reports, … Read more
Oil and Gas Development Company Limited (OGDCL) has announced the discovery of gas and condensate in the Samanasuk Formation, an exploration area, at the Petani-02 (Slant) well located in Lakki Marwat District, Khyber Pakhtunkhwa Province. The exploration and production giant shared this development with the Pakistan Stock Exchange (PSX) through a notification on Friday in … Read more
Sui Southern Gas Company Limited (SSGC) reported a significant financial turnaround for Q1FY24 (Sep 30, 2023), posting a profit of Rs 4.16 billion (earnings per share: Rs 4.72), compared to a loss of Rs 5.16. 59 billion (loss per share: Rs 6.35) during the same period last year. The company’s improved performance was driven by … Read more
Sui Northern Gas Pipelines Limited (SNGPL) has intensified its campaign against gas theft, carrying out large-scale raids in Punjab, Khyber Pakhtunkhwa and Islamabad. During the operations, the company cut 186 illegal gas connections and imposed fines amounting to Rs 7 million on violators. According to media reports, in Lahore, SNGPL teams disconnected 21 illegal gas … Read more