The Oil and Gas Development Company Limited (OGDCL) has made 19 oil and gas discoveries across Sindh, Punjab, and Khyber Pakhtunkhwa since 2023, marking a major boost to Pakistan’s energy security and a key step toward cutting reliance on expensive fuel imports. According to official documents available with Wealth Pakistan, the discoveries carry an estimated […]
gas
Government revives offshore oil, gas hunt after two decades
Pakistan’s offshore frontier was formally reopened after nearly two decades on Wednesday as the government inked Production Sharing Agreements (PSAs) and Exploration Licences (ELs) for offshore blocks. Federal Minister for Petroleum Ali Pervaiz Malik witnessed the signing ceremony of PSAs and ELs for offshore exploration blocks awarded under the Offshore Bid Round 2025, read an […]
Gas sector circular debt swells to Rs 3.2 trillion
Pakistan’s gas sector is sinking under a staggering Rs3.283 trillion circular debt, lawmakers were told, as parliamentarians warned that mounting losses at state-run utilities could ultimately collapse the system and further burden consumers. The disclosure before the National Assembly’s Standing Committee on Petroleum triggered sharp criticism and calls for structural reform, including privatisation, of the […]
New gas connections fee for domestic consumers increased
The Sui Northern Gas Pipelines Limited (SNGPL) has started receiving applications for new domestic gas connections. The official sources told APP that priority will be given to applicants who had already paid the urgent fee or demand notice before the ban was imposed. Applicants can get the connection by signing the RLNG agreement and paying […]
Russia can send gas to Pakistan in long term, says deputy PM
Russia can send natural gas to the markets of Afghanistan and Pakistan in the long term, said Russian Deputy Prime Minister Alexander Novak. He added that this can be possible either using the infrastructure of Central Asia, or in a swap from the territory of Iran. The deputy premier also said Moscow is ready to resume gas supplies […]
Europe could face gas shortage next year: IEA
Paris: Europe must act immediately to prevent a shortage of natural gas next year as Russia slashes deliveries in the wake of the Ukraine war, the International Energy Agency warned Thursday. The IEA said the shortfall would occur if Russia stops pipelines deliveries completely and China steps up its imports of liquefied natural gas, which […]
Putin says pipeline gas supplies to Pakistan are possible
Russian President Vladimir Putin said on Thursday that pipeline gas supplies to Pakistan are possible, and that part of the necessary infrastructure is already in place, Russian state-owned news agency RIA reported. Russian President and Prime Minister Shehbaz Sharif met today on the sidelines of the Shanghai Cooperation Organisation (SCO) summit in Samarkand, Uzbekistan. Prime Minister Muhammad […]
Petrol price in Pakistan likely to decrease by Rs9.62
Petrol price in Pakistan likely to decrease by Rs9.62: It is is likely to drop from Rs235.98 per litre to Rs226.36 after a cut of Rs9.62 per litre on September 16 (Friday) for the next fortnight. However, a minor increase of Rs3.04 per litre is expected in the price of diesel, taking the rate up […]
Iran offers completion of gas pipeline project with Pakistan
ISLAMABAD: Iranian Ambassador Mohammad Ali Hosseini on Tuesday offered his government’s support to complete Iran-Pakistan (IP) Gas Pipeline project and hinted to extend cooperation in other fields of mutual interest. Ambassador Hosseini, in an interview, said Iran was willing to further strengthen mutual trade cooperation; completion of energy projects, especially the IP gas pipeline; progress […]
Strike threatens to cut Norway gas exports by nearly 60 percent
OSLO: A Norwegian oil and gas industry group said Tuesday that a strike by oil and gas workers, which has already closed three fields, could cut Norway’s gas exports by more than half by Saturday. “Almost 60 percent of gas exports from the Norwegian continental shelf (NCS) will be affected when the strike action is […]