Russian energy behemoth Gazprom faced its first annual loss since 1999, marking a significant downturn attributed to dwindling gas exports and Western sanctions. The state-owned company reported a staggering net loss of 629 billion rubles (.7 billion) in 2023, in stark contrast to the .2 billion net profit recorded in 2022. This financial setback follows…
China’s imports of natural gas were up around 21% in the first four months of this year against the corresponding period in 2023. According to customs data, this is result of an overall exports and imports in April in wake of a contraction during the previous month. According to Chinese Customs, the country imported 43…
The exploration companies have called for granting 15% depletion allowance on aging fields rather imposing additional 15% well head value. Sources told Express tribune that oil and gas exploration companies say that there should be some more consideration to waive off the additional 15% well head value imposed (i.e. extra royalty other than 12.5%) on…
ISLAMABAD: Oil & Gas Development Company Limited (OGDCL), the operator of the Togh and Togh Bala Development and Production Lease (D&P.L), announced the successful commencement of production from the Togh-02 well from Lumshiwal-I Formation. The well is situated in the Kohat district of Khyber Pakhtunkhwa. The Togh-02 well is currently contributing 70 barrels of condensate…
ISLAMABAD: The three-day Pakistan Sustainability Week (PSW), country’s biggest and only dedicated alternative energy exhibition, alongside Solar Pakistan – 15th International Renewable Energy Exhibition and Conference – organized by Fakt Exhibitions (Pvt.) Ltd., Pakistan’s leading exhibitions organizing company, on Saturday successfully concluded at the Pak-China Friendship Centre in Islamabad. The flagship alternative energy exhibition continued…