ISLAMABAD: Oil & Gas Development Company Limited (OGDC) on Thursday announced the signing of a Production Concession Agreement (PCA) for the development of Offshore Block 5 in Abu Dhabi, solidifying its participation in an international upstream venture through a consortium-based…
ISLAMABAD: Pakistan’s Ministry of Energy has provisionally awarded petroleum exploration rights for seven new blocks to a consortium of local and international energy firms, including Oil and Gas Development Company Limited (OGDCL), officials announced Tuesday. The blocks, located in Balochistan,…
Pakistan’s equity market has recorded an increase of 13.5% or 5,569pts (USD based return of 12.9%) since the last MSCI semi annual review back in Nov’20. At present, Pakistan has a weight of 0.021% in MSCI EM. Within the MSCI…
OGDC: Profitability to plunge by 24% YoY in 2QFY21 We expect OGDC’s earnings in 1HFY21 to arrive at PKR 42,964mn (EPS: PKR 9.99), down by 19% YoY. The fall is anticipated owed to i) drop in oil prices by 32%…
KARACHI, PAKISTAN: Oil & Gas Development Company Limited (OGDCL), operator of Bitrism Block has announced oil and gas discovery from its exploratory well Pandhi # 01, which is located in District Sagnhar, Sindh. The well has tested 9.12 Million Cubic…