The Oil & Gas Development Company Limited (OGDCL) has completed drilling of the Chak 63-05 development well in the Chak 63 Development and Production Lease (D&PL), located in Sanghar district, Sindh. During production testing through a 32/64-inch choke, Chak 63-05 produced 600 barrels of condensate per day (BPD) and 10.5 million standard cubic feet of gas per day (MMSCFD) at a wellhead flowing
The Oil and Gas Regulatory Authority (OGRA) on Tuesday reduced liquefied petroleum gas (LPG) prices for July. The price of an 11.8kg domestic LPG cylinder has been cut by Rs794.50, bringing the new price down to Rs2,848.91 for the month. “The LPG producer price is linked with Saudi Aramco-CP and the US dollar exchange rate. As compared to the previous month, Saudi Aramco-CP has decreased by 25.
Oil prices were little changed on Tuesday but were headed for their biggest monthly and quarterly losses since the COVID-19 pandemic in early 2020, with investors eyeing potential US-Iran talks in Doha amid a strained interim ceasefire in the four-month-long war. Brent futures fell 13 cents, or 0.2 percent, to USD 73.02 a barrel at 12:34 p.m. EDT (1634 GMT), while US West Texas Intermediate (WT
Buying interest returned at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index gaining over 1,400 points during the opening hours of trading on Tuesday. At 11:25am, the benchmark index was hovering at 179,856.53, up by 1,441.74 points or 0.81%. Buying was observed in key sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration companies, OM
Oil and Gas Development Company Limited (OGDCL) has commenced crude oil production from its Bobi Deep-1 discovery well in Sindh on a fast-track basis, less than a month after announcing the discovery. In a notice submitted to the Pakistan Stock Exchange (PSX) on Monday, OGDCL said it had successfully connected the Bobi Deep-1 well to the existing Bobi processing plant through a newly laid 4-inc