AIRLINK 170.57 Decreased By ▼ -2.58 (-1.49%)
BOP 11.18 Increased By ▲ 0.53 (4.98%)
CNERGY 8.41 Decreased By ▼ -0.11 (-1.29%)
CPHL 99.73 Increased By ▲ 2.27 (2.33%)
FCCL 46.60 Decreased By ▼ -0.65 (-1.38%)
FFL 15.15 Decreased By ▼ -0.27 (-1.75%)
FLYNG 27.55 Decreased By ▼ -0.58 (-2.06%)
HUBC 137.78 Decreased By ▼ -1.13 (-0.81%)
HUMNL 12.92 Increased By ▲ 0.11 (0.86%)
KEL 4.54 No Change ▼ 0.00 (0%)
KOSM 5.36 Decreased By ▼ -0.19 (-3.42%)
MLCF 62.40 Increased By ▲ 0.14 (0.22%)
OGDC 212.16 Decreased By ▼ -2.59 (-1.21%)
PACE 5.42 Decreased By ▼ -0.13 (-2.34%)
PAEL 47.18 Increased By ▲ 2.32 (5.17%)
PIAHCLA 18.48 Decreased By ▼ -0.22 (-1.18%)
PIBTL 10.36 Decreased By ▼ -0.38 (-3.54%)
POWER 12.33 Increased By ▲ 0.07 (0.57%)
PPL 169.60 Decreased By ▼ -4.27 (-2.46%)
PRL 35.85 Decreased By ▼ -0.37 (-1.02%)
PTC 23.09 Decreased By ▼ -0.47 (-1.99%)
SEARL 96.26 Increased By ▲ 0.95 (1%)
SSGC 39.52 Increased By ▲ 0.39 (1%)
SYM 13.84 Decreased By ▼ -0.18 (-1.28%)
TELE 7.15 Decreased By ▼ -0.08 (-1.11%)
TPLP 10.03 Decreased By ▼ -0.26 (-2.53%)
TRG 63.48 Decreased By ▼ -1.20 (-1.86%)
WAVESAPP 9.99 Decreased By ▼ -0.05 (-0.5%)
WTL 1.31 Decreased By ▼ -0.02 (-1.5%)
YOUW 3.66 Decreased By ▼ -0.04 (-1.08%)
BR100 12,305 Decreased By -186.6 (-1.49%)
BR30 37,415 Decreased By -278.7 (-0.74%)
KSE100 114,853 Decreased By -1335.9 (-1.15%)
KSE30 35,217 Decreased By -533.1 (-1.49%)
Markets

E&Ps look to invest $5bn in Pakistan’s energy sector: govt statement

  • Delegation meets PM Shehbaz Sharif who forms committee headed by deputy premier Ishaq Dar
Published July 6, 2024

Oil and gas exploration and production companies are looking to invest $5 billion in Pakistan’s energy sector in the next three years.

The development was announced by the government of Pakistan after a meeting of E&P companies with Prime Minister Shahbaz Sharif on Saturday.

As per a statement released by the Government of Pakistan, the PM has constituted a committee headed by Deputy Prime Minister Ishaq Dar.

“After consultation with the representatives of the sector, the committee will formulate proposals to formulate an attractive policy for the exploration and development of petroleum and gas reserves in the country,” read the statement.

Tanveer urges govt to annul agreements with IPPs forthwith

Expressing confidence in the Prime Minister’s leadership, the E&Ps announced to invest $5 billion in Pakistan in the next three years, according to the statement.

As per the statement, PM Shehbaz invited E&Ps to explore offshore reserves. “Exploration of domestic oil and gas reserves in Pakistan is our top priority,” he was quoted as saying.

He said that production from local reserves will make fuel and gas economical for the common man.

PM Shehbaz directed the authorities concerned to facilitate the energy sector on a priority basis.

The oil and gas sector is a crucial component of Pakistan’s economy, playing a significant role in energy supply, economic growth, and development.

Equity swap only option to address circular debt issue, says PSO

Pakistan has significant reserves of natural gas and smaller reserves of crude oil. Major gas fields include Sui, Mari, and Qadirpur, while oil fields are primarily located in the Potohar region and southern Sindh.

However, the sector remains engulfed in the vicious cycle of circular debt, unaccounted for gas (UFG), lines/distribution losses, and capacity payments-related issues.

Comments

Comments are closed.

KU Jul 06, 2024 07:54pm
Pakistan has significance gas reserves n water for now, but who are the mysterious rascals who have made life miserable for Pakistanis, n plundered country to bankruptcy? We will keep suffering them?
thumb_up Recommended (0)
Arsalan Jul 06, 2024 09:46pm
Now the govt wants to have thr illegal share in the new ventures and discoveries as well. pls leave something for the country where they can take advantage of thr own resources. the intl groups will take thr share for explorations n these govt officials will take thr's which is unacceptable. Let the intl bodies get thr share only
thumb_up Recommended (0)
test Jul 07, 2024 12:07am
Energy related investments particularly oil and gas related are shady & corrupt. I love investments in green energy, electric vehicles, computers, smartphones, engines, electronics, metals, chemicals.
thumb_up Recommended (0)