Tag: Oil
OGDCL to add 125mmcfd of gas to the system next month
Oil and Gas Development Company Limited (OGDCL) is preparing to add 125 mmcfd (million cubic feet gas per day) of gas to the national...
OGDCL’s efforts yielding results
The public sector company-Oil and Gas Development Company Limited (OGDCL) is effectively contributing to overcome the country’s growing energy needs, spudding four wells during...
Iraqi premier says IS smuggles majority of oil via Turkey
Iraqi Prime Minister Haider al-Abadi said Monday that most oil smuggled by the Islamic State group goes through Turkey, joining a chorus of countries...
Turkey has alternatives to Russian oil, gas: Erdogan
Turkish President Recep Tayyip Erdogan said Saturday that Ankara could find alternatives to Russian oil and gas, as bilateral tensions escalated over the downing...
Use it or lose it!
Govt takes action against inactive companies in oil, gas sector
Federal government has tightened the noose around exploration and production (E&P) companies for failing to...
Government’s efforts in oil, gas sector yielding results
The government is taking concrete measures to meet the country's growing energy needs, surging oil production to around 100,000 barrels per day, official sources...
Oil down in Asia on oversupply fears
Oil prices fell in Asia on Monday, extending their slide as a stronger dollar and news that world stockpiles have reached a record high...
OMCs seeks imports as fuel runs out in Pakistan
As demand rises and parts of the country run out of high octane blending component (HOBC), oil marketing companies (OMCs) have turned to the Ministry...
Comprehensive strategy evolved to enhance oil and gas production: minister
775,000 gas connections provided in two years, Senate told
Opp stages walkout for ignoring it in LNG deal with Qatar
The Senate was informed on Tuesday...
Only 947 wells producing oil, gas out of 2,210 wells, PAC...
Ministry of Petroleum and Natural Resources on Wednesday informed the Public Account Committee (PAC) that out of 2,210 wells, only 947 were producing oil...
Chinese companies encouraged to invest in oil, gas sectors
Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi on Tuesday said that the government was offering good opportunities for investment in energy sector...
Petrol prices likely to rise from Nov 1
The Oil and Gas Regulatory Authority (OGRA) suggested raising the prices of petrol, diesel and high octane blending component and kerosene on Thursday.
The move,...
KSE-100 gives in to ‘uncertainty’, melts by 1,419 points
Political uncertainty in the country and falling oil prices in international markets crushed Pakistani bourses on Monday with Karachi Stock Market (KSE) 100-index nose diving by 1,419 points in a single day.
US dollar hits 17-month high at Rs 104.10
With reports that some dominant exporter groups are trying to create instability in the market by buying US dollars in large quantities, the exchange rate for US dollar in the interbank market has appreciated by Rs 2.10, reaching a 17-month high of Rs 104.10.
Oil Tumbles to Fresh Lows
Oil prices tumbled to fresh lows in Asian trade Monday, in line with the selloff in wider financial markets, as investors were shaken by...
Oil approaches key $40 level in Asian trade
Oil prices slid to a fresh six and a half year low in Asia Thursday, approaching the key $40 a barrel level after a...
No ceilings, no floor; it’s slippery!
Pakistan Vanaspati Mills Association (PVMA) has rejected the price fixation mechanism of Punjab government through notification and said that it will re-negotiate with provincial government over the issue.
