Latest news with #Petroleum
Business Recorder
13 hours ago
- Business
- Business Recorder
Urea sector: Body decides to extend gas supply until Sept 30
ISLAMABAD: The committee constituted by Prime Minister Shehbaz Sharif to ensure stability of urea prices, under the chairmanship of Deputy Prime Minister Ishaq Dar held a meeting on Friday. The committee expressed satisfaction with urea stock levels and price stability, and decided to extend gas supply to the urea sector until 30th September 2025 to ensure continued availability. The meeting was attended by SAPM Tariq Bajwa, Minister for Petroleum, federal secretaries of agriculture and industries, and senior officials. Copyright Business Recorder, 2025
Business Recorder
a day ago
- Business
- Business Recorder
Pakistan's energy sector challenges: Dar directs ministries to develop actionable solutions
ISLAMABAD: Deputy Prime Minister Ishaq Dar has emphasised the need for reforms in the energy sector and directed relevant ministries to present concrete, actionable solutions to address these challenges while avoiding any increase in gas tariffs for the domestic consumers. Deputy Prime Minister Dar chaired a high-level meeting to review critical challenges facing the energy sector. The meeting was attended by the ministers for Petroleum, Power and Food; SAPM Tariq Bajwa; National Coordinator on Power reforms; secretaries Petroleum and Power, and other senior government officials. Copyright Business Recorder, 2025
Business Recorder
2 days ago
- Business
- Business Recorder
Energy sector challenges: Dar directs ministries to develop actionable solutions
ISLAMABAD: Deputy Prime Minister Ishaq Dar has emphasised the need for reforms in the energy sector and directed relevant ministries to present concrete, actionable solutions to address these challenges while avoiding any increase in gas tariffs for the domestic consumers. Deputy Prime Minister Dar chaired a high-level meeting to review critical challenges facing the energy sector. The meeting was attended by the ministers for Petroleum, Power and Food; SAPM Tariq Bajwa; National Coordinator on Power reforms; secretaries Petroleum and Power, and other senior government officials. Copyright Business Recorder, 2025
Mint
6 days ago
- Business
- Mint
Ivory Coast Sees Oil Output Increasing More Than Fivefold by 2035
(Bloomberg) -- Ivory Coast expects its oil output to increase more than fivefold in the next decade, boosted by recent discoveries and the start of production at two offshore fields. 'By 2035, crude-oil production is expected to reach at least 500,000 barrels per day, placing our country among the top five oil-producing countries on the continent,' Minister of Petroleum, Energy and Mines Mamadou Sangafowa-Coulibaly said. 'Natural gas will account for 1 million cubic feet per day.' The world's leading cocoa producer aims to position itself as a major regional oil-and gas-player and energy hub, the minister said at the inauguration of a new wharf owned by state petroleum company Petroci, in Abidjan, the commercial capital. Increased production will straddle a period of surging oil prices after Israel launched a surprise attack on Iran, which retaliated with waves of ballistic missiles and drones, raising fears of a wider regional conflict and disruptions to flows of the fuel. Eni SpA has made significant offshore hydrocarbon discoveries at Baleine and Calao. Ivory Coast is in talks with Eni over a new oil-exploration block after the Italian major in December started a second phase at Baleine aimed at increasing output to 60,000 barrels a day. A third phase will more than double production to 150,000 barrels a day. Houston-based Vaalco Energy Inc. and Brazil's Petrobas are in talks with Petroci to invest in as many as 10 offshore oil blocks. The nation expects more than $16 billion of investments in its oil sector by 2030, including infrastructure such as pipelines, tankers and railways, Sangafowa-Coulibaly said. Washington-based Yaatra Ventures recently reached an agreement with state-owned Société Ivoirienne de Raffinage to build the country's second petroleum refinery, with a potential investment of 3 trillion CFA francs ($5.3 billion). Sign up here for the twice-weekly Next Africa newsletter, and subscribe to the Next Africa podcast on Apple, Spotify or anywhere you listen. --With assistance from Katarina Höije. More stories like this are available on
Express Tribune
19-06-2025
- Business
- Express Tribune
Restaurants 'hoard' cylinders amid anticipated LPG crisis
Empty Liquefied Petroleum Gas (LPG) cylinders are seen at a gas distribution centre. PHOTO: REUTERS Amid fears of a looming liquefied petroleum gas (LPG) crisis, large hotels and tandoors in Rawalpindi have allegedly begun hoarding gas cylinders, buying and storing four to seven extra commercial cylinders. LPG Association Chairman Irfan Khokhar warned that tensions between Iran and Israel could aggravate the LPG situation, with negative impacts already being felt. He expressed concern over a potential nationwide shortfall in LPG supply. According to Khokhar, the price of domestic gas cylinders could exceed Rs6,000, with per-kilogram rates reaching up to Rs500. Commercial cylinder prices could hit Rs23,000. Pakistan's daily LPG consumption stands at 6,000 metric tons, while current reserves are insufficient. Only 13,000 metric tons of LPG are stored at Port Qasim, and imports of 100,000 metric tons per month from the Pak-Iran border have been halted. The association has submitted a formal request to Prime Minister Shehbaz Sharif and the Minister of Petroleum for immediate action. Without timely intervention, a severe gas cylinder crisis is feared.
