AIRLINK 175.65 Decreased By ▼ -1.91 (-1.08%)
BOP 11.01 Decreased By ▼ -0.04 (-0.36%)
CNERGY 8.33 Increased By ▲ 0.16 (1.96%)
FCCL 47.10 Decreased By ▼ -0.22 (-0.46%)
FFL 16.02 Decreased By ▼ -0.10 (-0.62%)
FLYNG 27.02 Decreased By ▼ -0.33 (-1.21%)
HUBC 142.45 Decreased By ▼ -4.46 (-3.04%)
HUMNL 13.37 Decreased By ▼ -0.14 (-1.04%)
KEL 4.45 Decreased By ▼ -0.05 (-1.11%)
KOSM 5.91 No Change ▼ 0.00 (0%)
MLCF 61.50 Decreased By ▼ -0.52 (-0.84%)
OGDC 226.31 Decreased By ▼ -8.37 (-3.57%)
PACE 5.80 No Change ▼ 0.00 (0%)
PAEL 44.79 Decreased By ▼ -1.62 (-3.49%)
PIAHCLA 17.93 Decreased By ▼ -0.19 (-1.05%)
PIBTL 10.45 Decreased By ▼ -0.12 (-1.14%)
POWER 12.10 Increased By ▲ 0.11 (0.92%)
PPL 185.99 Decreased By ▼ -5.81 (-3.03%)
PRL 37.25 Decreased By ▼ -0.07 (-0.19%)
PTC 24.14 Increased By ▲ 0.94 (4.05%)
SEARL 99.95 Decreased By ▼ -0.94 (-0.93%)
SSGC 38.40 Decreased By ▼ -1.31 (-3.3%)
SYM 14.89 Decreased By ▼ -0.14 (-0.93%)
TELE 7.75 Decreased By ▼ -0.09 (-1.15%)
TPLP 11.10 Decreased By ▼ -0.01 (-0.09%)
TRG 66.00 Decreased By ▼ -1.29 (-1.92%)
WAVESAPP 11.00 Decreased By ▼ -0.35 (-3.08%)
WTL 1.36 No Change ▼ 0.00 (0%)
YOUW 3.82 Increased By ▲ 0.05 (1.33%)
BR100 12,826 Increased By 19.4 (0.15%)
BR30 38,861 Decreased By -842.2 (-2.12%)
KSE100 118,792 Decreased By -146.5 (-0.12%)
KSE30 36,779 Increased By 22.6 (0.06%)
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)