ISLAMABAD – The Ministry of Energy has announced the results of the Offshore Bid Round 2025, marking the country’s first competitive bidding for offshore petroleum exploration licenses in 18 years. The bid round, launched in January 2025, offered 40 offshore blocks as part of Prime Minister Shehbaz Sharif’s vision to enhance energy security, indigenization, and local […]
energy security
Pakistan receives first US crude oil shipment, marks energy milestone
Pakistan received its first-ever shipment of US crude oil on Tuesday, marking a historic milestone in the country’s energy and trade sector. The Suezmax-class vessel MT Pegasus, carrying 1 million barrels of West Texas Intermediate (WTI) crude, docked at Cnergyico’s offshore terminal in Balochistan. The shipment strengthens Pakistan’s energy diversification and deepens economic ties with […]
EU approves 19th sanctions package against Russia
BRUSSELS: The European Union (EU) on Thursday formally adopted its 19th package of sanctions against Russia over the war in Ukraine, introducing a ban on Russian liquefied natural gas (LNG) imports and fresh restrictions on financial and trade activities. The 27-member bloc approved the package after Slovakia lifted its objection late Wednesday, paving the way […]