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Business

Web Desk Karachi
Dec 26, 2024

Pakistan’s economy faces $194m setback due to local gas production cuts

This reduction has also led to losses in crude oil output amounting to Rs5 billion, alongside a hit of Rs20 billion tax revenue.

Business

Web Desk
Dec 24, 2024

OGDCL revives key oil well in Sindh, resumes hydrocarbon production

Oil and Gas Development Company Limited (OGDCL) has brought an oil well back into production in the Tando Allah Yar district of Sindh.

Business

Web Desk Karachi
Dec 24, 2024

KUFPEC exits Pakistan, sells $60 million in assets to PEL

Many foreign E&P companies frustrated due to the extensive circular debt in the gas sector, which has escalated to Rs2,700 billion.

Business

Web Desk
Nov 13, 2024

OGDCL starts natural gas production from Uch-35 well in Balochistan

The Oil and Gas Development Company Limited (OGDCL), Pakistan’s largest oil and gas exploration company, has begun producing natural gas from the Uch-35 well, located in Dera Bugti district, Balochistan.

Business

Web Desk
Aug 30, 2024

OGDCL notifies major gas condensate reserves discovery in Sanghar

OGDCL has announced a significant discovery of gas condensate reserves at its Baloch-2 well in the Sanghar district of Sindh.

Pakistan

Web Desk
Jul 01, 2024

OGDCL ramps up oil and gas production at Nashpa-4 well in KP

OGDCL has successfully revitalised the Nashpa-4 well in Khyber Pakhtunkhwa, significantly enhancing its production capacity.

Business

Web Desk
May 09, 2024

OGDCL’s new well expected to save Pakistan $38 million annually

Oil and Gas Development Company Limited (OGDCL) has announced that it has successfully started production at its Togh-02 well, located in the Togh and Togh Bala Development and Production Lease (D&P.L.) area.

Business

Web Desk
Apr 08, 2024

OGDCL strikes new tight gas reserves in Sindh

In the letter submitted to the PSX, the company, operating with a 100 per cent stake in the Nur Development & Production Lease (D&PL), expressed gratitude for the discovery, attributing it to the company’s technical prowess and operational capabilities.

Business

Web Desk
Apr 03, 2024

Saudi Arabia eyes major investments in Pakistan’s energy sector

Saudi Arabia is set to deepen its involvement in Pakistan’s energy sector and foster stronger economic relations between the two countries by potentially acquiring shares in two of Pakistan’s major energy companies, Oil and Gas Development Company Limited (OGDCL) and Pakistan Petroleum Limited (PPL).

Business

Web Desk
Mar 26, 2024

PSX closing: KSE-100 index gains 381 points

The Pakistan Stock Exchange (PSX) experienced a bullish trading session on Tuesday, with its key index, the KSE-100, climbing by 381 points and closing near the 66,000 mark.