(Oil Price)– Pakistan and Russia are discussing a potential cooperation agreement in the oil sector, including in exploration, production, and refining, Pakistani Finance Minister Muhammad Aurangzeb told Russian news agency RIA on Tuesday. “All of these areas are Russia’s strengths. And we would be very happy if Russia agreed on an agreement in this sector with Pakistan,” the Pakistani official was
(World Oil) – Pakistan Petroleum Ltd., a state-owned energy company, is reclaiming land from the sea to create a launchpad to ramp up oil and gas exploration. The artificial island will come up about 30 kilometers (19 miles) off the coast of the southern Sindh province, near Sujawal, PPL’s General Manager Exploration and Core Business Development, Arshad Palekar, said on the
(World Oil)- MariEnergies has announced an oil discovery at its Shawal-1 exploration well, located within the Mari Development and Production Lease (Mari D&PL) in Sindh Province, Pakistan. The company operates the block with a 100% working interest. The Shawal-1 well was spudded on Jan. 27, 2024, and drilled to a total depth of 1,136 m in the Ghazij Formation. Well
(World Oil)– A looming surge in liquefied natural gas supply through the end of the decade is poised to create demand that won’t go away, said an ADNOC Gas executive. Prices of the super-chilled fuel are widely expected to drop as a number of LNG projects go online in the coming years, including Abu Dhabi National Oil Co.’s plant at
(World Oil)– The U.S. sealed a trade deal with Pakistan as their officials wrapped up talks in Washington, agreeing to develop oil reserves. The pact involves a reduction of the so-called reciprocal tariffs, especially on Pakistani exports, according to a statement by Pakistan’s finance ministry on Thursday. No details on tariffs were shared by either side. U.S. President Donald Trump
Associated Press•May 20, 2019 ISLAMABAD (AP) — Pakistan’s ministry of petroleum says authorities are ending offshore drilling off the Karachi coast in the Arabian Sea after no reservoirs of oil or gas were found. The news was a setback for Pakistan, which had placed high hopes in the project discovering enough oil for its needs. The ministry said in Sunday’s
From Business Recorder KARACHI: Pakistan’s first Liquefied Natural Gas (LNG) energy terminal has received 120 shipments and injected 7.4 million tonnes LNG in the national transmission network since start of its operations, saving US $1.2 billion per year in the national kitty. “Established by Engro Pakistan, the plant was completed in a record 330 days and succeeded to transfer 120
New pipeline represents the first infrastructure deal between the two countries since the 1970s Pakistan is expected to sign an agreement with Russia for the construction of a 1,100 km (about 684 mile) liquefied natural gas (LNG) pipeline from Karachi in southern Pakistan to Lahore in the North. Under the partnership, Russia will provide $2 billion to lay the pipeline,
