Pakistan Petroleum Limited (PPL) has commenced oil and gas production from the Adhi South-9 development well within the Adhi Mining Lease. PPL holds a 39% working interest in the well, collaborating with joint venture partners Oil & Gas Development Company Limited (OGDCL) at 50% and Pakistan Oilfields Limited (POL) at 11%. The well, successfully drilled to a depth of 3,430 meters, has shown promising log results, confirming its potential as a producer. Following its integration with the processing plant, Adhi South-9 is now producing at a rate of 530 barrels per day (bpd) of oil and 0.6 million standard cubic feet per day (MMscfd) of gas. This development marks a significant step for PPL and its partners in enhancing oil and gas production in the region.
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Gas Production from Adhi South-9
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Chinese Investment Corporation to Provide $1 Billion to Pakistan Refinery Limited (PRL)
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A Chinese investment corporation has committed $1 billion to Pakistan Refinery Limited (PRL) for its upgrade project, aimed at enhancing the refinery's production capacity. The Chinese firm has specified that it desires no government involvement in the deal and expects PRL to repay the loan in dollars without any governmental oversight, emphasizing the need for smooth dollar remittance back to China. PRL’s upgrade project aims to double its production capacity from 50,000 barrels per day to 100,000 barrels per day. The refinery has partnered with China's United Energy Group (UEG) for this substantial expansion, which focuses on transitioning from a basic hydro-skimming process to a deep-conversion process. This change will allow PRL to produce Euro 5 compliant high-speed diesel (HSD) and motor spirit (petrol), while phasing out the less profitable production of furnace oil. Currently, PRL produces 250,000 tons of motor spirit annually, which is projected to rise to 1.5 million tons post-expansion. HSD production is expected to grow from 600,000 tons per year to approximately 2 million tons. The investment and modernization effort positions PRL to significantly impact Pakistan’s energy sector by providing cleaner fuels and meeting the increasing domestic demand.
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Pakistan and Indonesia are enthusiastically strengthening their trade relations, recently signing a series of business-to-business agreements and Memorandums of Understanding (MoUs) worth $10.7 million. These agreements cover a diverse range of sectors, including coconut products, gum, copal, cocoa, dried coconut, ginger, spices, consumer goods, and auto parts. The partnerships are the result of collaborative efforts among private companies, business institutions, and government agencies from both countries, marking a significant step towards enhanced economic cooperation. Abid Nisar, Chairman of the Pakistan-Indonesia Business Council, expressed optimism about the growing economic ties, highlighting the strong historical and cultural connections that can facilitate mutual prosperity. As a member of the G20, Indonesia is keen to share its economic expertise to support Pakistan's stability and growth. The initiatives promoted by the Special Investment Facilitation Council (SIFC) are expected to further boost Pakistan’s economy and deepen the bilateral relationship between the two nations.
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$10.7 Million MoUs Signed Between Pakistan and Indonesia
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WFP, FAO and IFAD to Boost Food Security in Pakistan
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United Nations-affiliated organizations, including the World Food Program (WFP), the International Fund for Agricultural Development (IFAD), and the Food and Agriculture Organization (FAO), are collaborating with the Government of Pakistan to enhance food security and nutrition, particularly for underserved communities. In rural areas, food insecurity and climate change present significant challenges. WFP is implementing various initiatives, such as school meal programs, including a new effort in Baluchistan that sources nutritious meals from local produce. Their global experience shows that these programs can improve school attendance and academic performance. WFP is fortifying staple foods in partnership with 150 local wheat mills and promoting kitchen gardening, enabling families to grow their own nutritious food. The overarching goal is to provide all Pakistanis with access to healthy, safe, and nutritious diets. IFAD emphasizes the need to address ongoing challenges faced by smallholder farmers by supporting the adoption of climate-resilient practices to ensure food production meets local demands. Despite sufficient global food production, millions still suffer from hunger due to climate shocks. IFAD’s focus on nutrition, gender equality, and sustainable agriculture is transforming Pakistan's rural economy and enhancing climate resilience. FAO is working to improve access to healthy food for vulnerable populations by enhancing supply chains. With 20% of Pakistan's population classified as underweight and 15% facing severe food insecurity, FAO promotes sustainable agricultural practices that boost productivity and improve dietary quality. They also emphasize empowering women farmers by enhancing their access to resources and decision-making roles, crucial for securing resilient food systems. These organizations aim to ensure that all communities in Pakistan have access to nutritious food and the necessary tools to thrive in an increasingly challenging climate.
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The Pakistan Space and Upper Atmosphere Research Commission (SUPARCO) is poised to inaugurate the Space Applications and Research Center (SPARC-GB) in Gilgit-Baltistan, a significant milestone for the country’s space and environmental research initiatives. This event will gather distinguished scientists, environmental experts, and students, highlighting the center’s role in advancing research and technology in Pakistan. SPARC-GB represents SUPARCO’s commitment to leveraging space technology for environmental monitoring, particularly addressing the unique challenges faced by Gilgit-Baltistan. The region's geography makes it highly vulnerable to climate change and natural hazards, underscoring the need for innovative solutions to better understand and mitigate these vulnerabilities. The center will serve as a research hub focused on critical areas such as glacier monitoring, climate change mitigation, and disaster management. It aims to facilitate advanced studies on glacier dynamics, natural hazards, biodiversity conservation, and sustainable resource management. The alliance among scientists, students, and experts, SPARC-GB is set to become a leading institution dedicated to addressing some of the most pressing environmental issues in the region.
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The Inauguration of The Space Applications and Research Center (SPARC-GB) In Gilgit-Baltistan
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Pakistan Expand Extended Fund Facility (EFF) Program with the IMF
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Pakistan is proposing to expand its Extended Fund Facility (EFF) program with the IMF by incorporating an additional $1.5 to $2 billion for climate finance. This move aligns with the upcoming IMF/World Bank meetings in Washington, D.C. The current $7 billion EFF, with its initial tranche already disbursed, could potentially grow to $8 to $9 billion if the proposal is approved. During the meetings, discussions will also focus on the IMF’s Resilience and Sustainability Facility (RSF), which provides long-term, affordable financing to countries facing balance of payments stability risks due to climate change and pandemics. The RSF aims to support reforms that enhance economic resilience. The IMF emphasizes the need for a thorough assessment of long-term financial sustainability before approving any new or expanded RSF arrangements, making it challenging to immediately quantify the potential impacts of these proposals.
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Oil and Gas Development Company Limited (OGDCL), Pakistan's largest exploration and production (E&P) company, has announced a significant discovery of natural gas reserves at the Shahu-1 well in Khairpur, Sindh. This joint venture involves OGDCL, United Energy Pakistan Limited (UEPL), Government Holding Private Limited (GHPL), and Sindh Energy Holding Limited. Drilled to a depth of 12,675 feet, the well is anticipated to produce about 10 million standard cubic feet of gas per day, with a Wellhead Flowing Pressure (WHFP) of around 4,100 Pounds per Square Inch (Psig). This discovery boosts exploration potential in the Sawan South Block and also purposes to strengthen the country's energy security by tapping into indigenous resources, contributing to Pakistan's hydrocarbon reserves.
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Discovery Of Natural Gas Reserves at The Shahu-1 Well in Khairpur, Sindh
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Gas Production Form Baloch-2 Exploratory Well in Sanghar, Sindh
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Oil & Gas Development Company Limited (OGDCL), Pakistan's largest exploration and production company, has commenced oil and gas production from its Baloch-2 exploratory well in Sanghar, Sindh. The well, which was drilled to a depth of 3,920 meters, is currently producing 350 barrels of oil per day and 5 million standard cubic feet of gas daily. This output is connected to the Sinjhoro Processing Plant, with the gas being directed into the Sui Southern Gas Company Limited (SSGCL) network. This is a collaborative effort involving OGDCL, Orient Petroleum Inc., and GHPL. OGDCL is focused on enhancing its exploration and production activities to strengthen national energy security and promote sustainable development in Pakistan. The start of production at Baloch-2 is a step towards achieving these goals, contributing to the country's energy needs and economic growth.
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The recent approval for importing genetically modified (GMO) soybeans by the federal government marks a significant shift for Pakistan's poultry sector. License has been granted to 39 companies, this decision is seen as essential for stabilizing protein supplies, especially after a long-standing ban that exacerbated feed costs and led to severe contractions in the industry. The Pakistan Poultry Association (PPA) has welcomed this move, highlighting its potential to boost productivity and competitiveness within the sector. The ban had previously resulted in substantial challenges, with many industry players forced to reduce operations or shut down entirely due to high feed expenses. The National Biosafety Committee (NBC) and other government agencies conducted thorough consultations before this approval, reflecting a careful approach to addressing previous biosafety concerns. While the decision has been largely supported, it has also faced opposition from factions such as the Ministry of Climate Change and the Environmental Protection Agency (EPA), indicating ongoing debates about the environmental implications of GMO imports. Organizations like the Sustainable Development Policy Institute (SDPI) have argued for lifting the ban, citing concerns over food security and rising rates of malnutrition as critical reasons for the change. This approval is a pivotal step in addressing the poultry industry's needs and ensuring a more stable protein supply in Pakistan.
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Pakistan Permits GMO Soybean
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$40 Million Textile Cooperation at TEXPO 2024 Between Pakistan and China
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Hunan Dongxin Textiles Ltd, a major Chinese textile firm, and Pakistan’s Keywin Trading Ltd have inked a $40 million partnership at TEXPO 2024 in Karachi, aiming to enhance collaboration in the textile industry. This one-year agreement, signed by executives from both companies along with suppliers Mahmood Textile Mills and Gadoon Textile Mills, represents a significant development for Pakistan’s textile sector. TEXPO 2024, organized by the Trade Development Authority of Pakistan (TDAP), saw participation from over 600 international visitors, including a delegation of 30 from China. The event showcased Pakistan’s textile diversity, featuring 250 companies across various sectors, including denim, home textiles, and leather. This agreement is a crucial step for Pakistan as it aims to boost exports and strengthen international partnerships in the textile market.
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