oil and gas
Senate Panel Calls for 50% Oil and Gas Revenue Share for Producing Provinces
The Senate Functional Committee on Devolution has urged the federal government to fully implement constitutional provisions by ensuring that oil- and gas-producing provinces receive their rightful 50% share of revenue generated from natural resources extracted within their territories. The directive came during a committee meeting chaired by Senator Zamir Hussain Ghumro, where members reviewed the […]
Pakistan Forced to Buy Costliest LNG Cargo in Four Years as Global Supply Tightens
Pakistan has been compelled to purchase one of its most expensive liquefied natural gas (LNG) cargoes in the past four years as geopolitical tensions in the Middle East continue to disrupt global energy markets. The latest procurement reflects the growing pressure on LNG-importing countries as supply constraints push spot prices higher across Asia. According to […]
PSO Profit Surges 150% to Rs. 38.1 Billion in 9MFY26
Pakistan State Oil (PSO) has reported a massive jump in profitability for the nine months ending March 31, 2026, showcasing strong financial resilience despite a volatile energy market. The company posted a net profit of Rs. 38.1 billion, marking an impressive 149 percent increase compared to Rs. 15.3 billion in the same period last year. […]
OGDC Achieves Record-Breaking Oil and Gas Output from Baragzai X-01 Well
Oil and Gas Development Company Limited has marked a historic milestone by commencing production from the Baragzai X-01 (Slant) well in the Nashpa Block, located in the Kohat district of Khyber Pakhtunkhwa. The development is being described as the highest-ever oil and gas production from a single well in Pakistan. The inauguration ceremony took place […]