ISLAMABAD (July 29, 2010): The government on Wednesday granted an exploration licence to Oil and Gas Investments Limited (OGIL) for Block No 2667-12 (Baran) located in Sindh. The latter will make an initial investment of $5.2 million at the exploration stage.

ISLAMABAD (July 29, 2010): Private Power Infrastructure Board (PPIB) is reportedly manoeuvring to extend additional incentives to 5 projects initiated under the GoP's fast track initiatives in 2009, informed sources told Business Recorder.

ISLAMABAD (July 29, 2010): The government is in the process of identifying about 2 billion dollar projects for energy sector and seek funding under the Kerry Lugar Bill, an official of Finance Ministry revealed during an informal discussion with the media.

ISLAMABAD (July 29, 2010): The cash-strapped Pakistan State Oil (PSO) increased spending on oil imports by over 32 percent to Rs 537.372 billion during financial year 2009-10 against Rs 363.087 billion in 2008-09 due to low throughput by oil refineries, Business Recorder has learnt reliably.

MULTAN (July 29, 2010): Rejecting the plea of CNG dealers association, local CNG dealers have urged the government not to increase the price of compressed natural gas (CNG) by Rs 3 to Rs 56.63 per kg otherwise this business would collapse. Local dealers said that they were forced to sell gas at Rs 44 to 46 per kg in Multan, Sahiwal, Faisalabad, Lahore and Gujranwala to attract the consumers.

ISLAMABAD (July 29, 2010): A sub-committee of National Assembly's Public Accounts Committee (PAC) on Wednesday rejected the internal inquiry report of Water and Power Development Authority (Wapda) for commissioning two companies for floating Wapda bearer bonds without competitive bidding.

KARACHI (July 29, 2010): National Electric Power Regulatory Authority (Nepra) is unlikely to approve the petition of Karachi Electric Supply Company (KESC) for decommissioning of its seven gas-based power plants of 175 megawatts. According to sources Nepra thinks that as the said units could be used for electricity generation with improved efficiency, there was no justification to decommission or scrap them.

ISLAMABAD (July 28, 2010): The energy conference chaired by Prime Minister Yousuf Raza Gilani on Tuesday decided to continue with two weekly holidays and closure of markets at 8pm for another three months, ie till October, 2010.

ISLAMABAD (July 28, 2010): Prime Minister Syed Yusuf Raza Gilani on Tuesday said the government added 1708 megawatts to the national grid while additional 2000 megawatts are planned to be included during the current year.

ISLAMABAD (July 28, 2010): Economic Co-ordination Committee (ECC) of the cabinet scheduled to meet on Thursday (tomorrow) may allow oil refineries to continue charging current 7.5 percent deemed duty on High Speed Diesel (HSD) which the Judicial Commission had recommended abolishing, Business Recorder has learnt.