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Karachi: OGDCL’s exploration activities result in discoveries
The Oil and Gas Development Company Limited (OGDCL) is successfully going ahead with its mission to fulfil the country’s energy demand and its recent discovery of hydrocarbon at well Zin X-I would go a long way in this regard.
According to Standard Capital, the company together with its Joint Venture partner Government Holdings Private Limited has discovered a hydrocarbon-bearing horizon in its exploratory well Zin X-1, located in District Dera Bugti Balochistan, an official source said. The Zin X-1 well was drilled down to the depth of 2300 metre targeting to test the hydrocarbon potential of Pab Sandstone and Sui main limestone formations.
Pakistan to import 500MW electricity from India
Indian energy managers due in February to ink the deal Pakistan signed agreement with an Iranian company to import 5,000 MW of electricity Energy and trade managers of India would likely to visit Islamabad in mid-February to finalize export of estimated 500MW electricity to Pakistan.
Weekly inflation goes up
The Sensitive Price Indicator (SPI), for the week ended on January 5, for the lowest income group up to Rs8,000 has registered increase of 1 per cent over the previous week. The SPI for the week under review in the above mentioned group was recorded at 170.10 points against 168.41 points registered in the previous week, according to provisional figures of Federal Bureau of Statistics (FBS).
Despite growth in investment Banks’ advances remain subdued
Advances of the scheduled banks faltered by 4 per cent in last year as per the latest figures released by the SBP. According to a report issued by though, after witnessing decline of mere 2 per cent during first nine months of the last year, the sector’s advances were bolstered by 1 per cent during Oct-11.
50,000 tons of urea: TCP awards contract to Trasfert
Trading Corporation of Pakistan (TCP) finalised a deal with M/s Trasfert FZCO, Dubai for the import of 50,000 tons of urea. TCP had issued an international gallop tender for the import of 300,000 tons on December 28, 2011. The tender was opened on January 9, 2012 and some 14 bidders participated in the tender.
NIT adopts latest technology
National Investment Trust, Pakistan’s first and largest asset Management Company has electronically transformed its services using modern technological techniques to facilitate its unit-holders. With the introduction of latest technology for transaction, NIT is now set to redefine the mutual funds market as well as better serve its valued investors and customers”.