NetLine First Company in Pakistan to receive a 4.5 million USD valuation in the Energy sector
Family Based Solar Business, NetLine raises funds at a 4.5 million USD valuation Intermarket securities, a leading brokerage firm, confirmed a 4.5 million USD valuation for NetLine, a family-owned business in the energy and power sector. NetLine is known as one of the pioneering businesses in the field of solar and UPS (uninterruptible power supply)….
Adil Aziz
Pakistan’s energy sector needs up to $155 Billion investment until 2030: Report
Pakistan’s energy sector needs investments ranging from US$62 billion to US$155 billion until the 2030, according to a report titled “CAREC Energy Outlook 2030” recently released by the Asian Development Bank (ADB). “The energy investment needs until 2030 vary significantly across the three scenarios, with estimates ranging from $62 billion to $155 billion. The most…
Oil rises in thin trade on concerns over US storm impact
OIL prices rose in light trade on Tuesday on concerns that winter storms across the United States are affecting logistics and production of petroleum products and shale oil. Brent crude was up 73 cents, or 0.9 per cent, at US$84.65 a barrel by 0122 GMT, while US West Texas Intermediate crude was at US$80.41 a…
KE seeks Rs 7 per unit relief for customers For November’s FCA
For the month of November, K-Electric has filed a petition for a reduction in FCA at the rate of PKR 7.04 /kwh (per unit) NEPRA will conduct a public hearing today over the petition submitted by K-Electric on account of Fuel Charges Adjustments (FCA) for November 2022. November’s FCA was lower primarily due to a…
Oil falls by US$1 a barrel as rate hike fears outweigh tighter US stockpiles
OIL fell by around US$1 a barrel on Thursday (Dec 22) in volatile trade as the impact of tighter US crude stocks due to a winter storm in the United States was outweighed by fears that Federal Reserve interest rate hikes and China’s rising Covid-19 cases would dent demand. Brent crude futures settled at US$80.98…
OGDCL makes another oil & gas reserves recovery in Sindh
The Oil and Gas Development Company (OGDCL) announced an oil and gas discovery at the exploratory well namely Kot Nawab-1, located in Sanghar District, Sindh. “Based on the results of wireline logs interpretation, Drill Stem Test-1 in the Basal Sand has tested 125 Barrel of Oil per Day (BOPD) and 0.483 Metric Million Standard Cubic…
OGDCL carries out 221 Line-km 2D seismic surveys in 1st quarter of FY 2022-23
Oil and Gas Development Company Limited (OGDCL), during the first quarter of the current fiscal year, carried out 221 Line-km 2D and 21 Square-KM 3D seismic surveys in its various operational areas to discover hydrocarbon reserves. “The acquired 221 Line km of 2D seismic data and 21 Sq. km of 3D seismic data represents 49%…
Committee formed to settle circular debt for gas sector companies
Minister for Finance Senator Ishaq Dar notified a committee on Circular Debt (CD) settlement plan for gas sector companies. According to a notification issued by the finance division, the committee would undertake a detailed mapping of the gas sector’s circular debt stock as of June 30, 2022, segregating the principal amount of debt, LPS, penalties,…
Multi pronged strategy seems working to avert severe gas crisis
Global economic recession and regional conflicts landed many of the world’s nations in serious trouble to meet the energy needs of their people during chilly winters. Unlike many previous years, the post-COVID and Russia-Ukraine war era had rung alarm bells even across Europe and in many Asian countries. The situation was also not different for…
Oil prices steady as drawdown in U.S. crude stocks counters China COVID concerns
Oil prices were little changed as a larger-than-expected draw in U.S. crude stocks offset worries about rising COVID-19 cases in top oil importer China. Brent crude futures rose 7 cents, or 0.1%, to $80.06 per barrel by 0404 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained 4 cents, or 0.1%, to $76.27. U.S. crude…