Pakistan holds key geographical location in the region and offers the most suitable route for maritime trade for Central Asian states. The expansion of ports in Karachi will improve exports through value-added industries. The modern scanning machinery at the ports, time efficient customs clearance by installing modern equipment, the shipping regulation at Port Qasim and Karachi Port Trust can led Pakistan to earn foreign exchange in billions of dollars. The Lyari Expressway be kept open 24/7 for cargo traffic to facilitate the continuous transportation to and from Karachi Port Trust of goods. The Malir Expressway be connected to the port for more improvement of goods transportation. The volume of shipments transported by rail to and from Karachi Port be improved, and the LNG ship charges at Port Qasim be reduced to align with international rates. It is also focused to condense its expenses of port operations and make its operations more efficient.
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Development In Karachi Port and Port Qasim
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Extended Economic Ties Between Pakistan and Azerbaijan
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Azerbaijan and Pakistan making noteworthy steps in improving economic and diplomatic bonds over the past few months. Realizing the noteworthy developments in strengthening the economic and developmental relationships between them, in coming days several MOUs are expected to be signed during the visit of president of Azerbaijan visit Pakistan. Both countries must continue to support and collaborate with each other in various field to improve their ties. Readiness both countries for closer cooperation with each other across all fields of mutual interest like, including tourism, transport, energy security, and defense to forging robust economic relationships, the need for an early conclusion of the Preferential Trade Agreement (PTA) and Bilateral Transit Trade Agreement (BTTA) in spite of the fact that this requires extra endeavors. Both sides decided on the obligation of a long-term and practical mechanism to improve and monitor bilateral trade and cooperation.
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In a ceremony organized by SMEDA to mark the international Micro, Small and Medium Enterprises (MSME) Day the announcement of a cluster-based 10-year development plan has been unveiled for the growth plan of small and medium enterprises (SMEs). Pakistan’s economic landscape blooms on the vitality of small and medium enterprises (SMEs), which play a pivotal role in driving growth, innovation and job creation. The 10-year cluster-based plan covered five sectors –e-bike, fruit and vegetable processing, seafood, pharmaceutical, and marble and granite.
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10-Year Cluster-Based Plan Launched by SMEDA
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Chagi Exploration by Mari Mining Company
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Baluchistan, known for the home of minerals and natural resources, has picked up step in current times especially, after the establishment of Special Investment Facilitation Council (SIFC). MARI, one of Pakistan’s largest energy and exploration companies, the company is an integrated oil and gas exploration and production company and around 70% exploration success rate. Mari Mining Company (Pvt) Limited (MMC), established by Mari Petroleum Company Limited (MPCL), has recently obtained licenses to explore minerals in the Chagai district of Baluchistan. These licenses, namely EL-322 covering 501.03 square kilometers and EL-323 covering 512.76 square kilometers, mark an expansion of MMC's mining ventures aligned with MPCL's strategic goals. MPCL has expressed its commitment to enhancing Pakistan's mineral mining sector through these new exploration opportunities, emphasizing their role in contributing to the country's economic growth.
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Pakistan Petroleum Limited has discovered gas from the exploratory well Tor-1 in Latif Block, located in Khairpur District, Sindh Province. The well is operated by United Energy Pakistan Beta (UEP Beta) along with its Joint Venture partners PPL and Prime Pakistan Limited. The examining well Tor-1 effectively reached the measured targeted depth of 3,438 meters. The well streamed at the rate of 11.27 MMSCFD gas in contradiction WHFP of 1,424 Pounds per Square Inch (PSI) at 40/64" choke, based on Wireline logs interpretation and Modular Formation Dynamic Tester (MDT), Intra-C Sand of Lower Goru Formation was verified. This exploration of well will add more hydrocarbon reserves and will help in enhancing the indigenous hydrocarbon supply and mitigating the gas demand in the country.
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Tor-1 Well in Khairpur District
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Tajikistan To Avail the Facilities of Pakistani Seaports
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Stressing on the elevation of regional trade and connectivity, Pakistan has invited Tajikistan to avail the facilities of Pakistani seaports for transit trade besides, by constructing road and rail network between the two countries. Signing of several MoUs are best image of rising mutual confidence and corporation on each other. It was highlighted that the Pakistani seaports offer the most efficient, shortest, and economic route for the Central Asian countries to the markets in the Middle East and beyond. Pakistan would continue to pursue enhanced cooperation with Central Asian countries, as part of its ‘Vision Central Asia’ policy. Improved regional connectivity and integration would remain key components for sustainable long-term socio-economic development of the region, the need for enhanced cooperation in culture, education, sports, and people-to-people contacts.
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A non – biding MoU of $10bn green refinery is about materialized among Pakistan State Oil (PSO), Chinese Sinopec and Saudi Aramco. Ministry of Foreign Affairs is recommended to take Saudi Aramco and Sinopec on board for signing a trilateral MoU with PSO for cooperation and collaboration on the green refinery project. The tender pursues a crude-petrochemical refinery with capacity of 70 percent and 30 percent to refine petroleum and to produce chemical products respectively. Earlier, few concerns were showed by Sinopec related to the lack of demand for petroleum products in the Pakistan market and in this regard first conduct a market study in collaboration with PSO and then Sinopec will decide whether to act as EPC contractor and arranging funding. Previously it was advised that PSO, Sinopec and Aramco to carry out a joint survey to evaluate whether the crude-to-petrochemical refinery will be economical and beneficial for three stakeholders. Presently in the new scenario, Sinopec has asked PSO to conduct a market investigation to check demand for petroleum products to be produced by the refinery. The KSA also desires the engineering, procurement, and construction (EPC) agreement to be granted to Sinopec and to this consequence, PSO, is in contact with the Bank of China and Sinopec.
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$10 Billion Green Refinery Mou
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$5 Billion Investment in Pakistan’s Oil & Gas Exploration and Production (E&P) Sector
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A delegation of the oil and gas exploration and production sector informed that during the next three years, around 240 potential reserves sites would be excavated with an investment of $5 billion to explore petroleum and gas. A high-level committee has been formed to facilitate $5 billion in new investments within Pakistan’s oil and gas exploration and production (E&P) sector, intended at revitalizing the country’s energy sector. This initiative is part of a comprehensive strategy to enhance oil and gas production capabilities. The committee's mandate includes developing a strategic plan encompassing short, medium, and long-term actions to address challenges in the E&P sector. Key priorities for the committee involve proposing solutions to resolve circular debt in the gas sector, implementing integrated energy planning to prevent gas curtailment, and enhancing the fiscal framework to attract investments. Furthermore, the committee will focus on ensuring security in high-risk areas at no additional cost to E&P companies, nurturing a business-friendly environment for investors and stake holders, addressing contract-related issues, promoting offshore exploration, and operationalizing policies such as the Amended Petroleum Policy, 2012, and the Tight Gas Policy, 2024. The committee will object to automate and digitize the oil and gas exploration licensing processes, compare LNG port charges with regional and international standards, and boost private sector contribution and third-party imports of RLNG through long-term contracts. This concerted effort seeks to stimulate growth in Pakistan's E&P sector through strategic reforms and targeted investments, thereby strengthening the nation's energy security and economic expansion.
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OGDCL is the largest exploration and production (E&P) company in Pakistan operates Nashpa-4 well is located within the Nashpa Development and Production Lease (D&PL) in the Karak district of the KPK province. Nashpa D&PL works under a joint venture of OGDCL with operations including survey, oil and gas drilling operation services, production, managing reservoir, and support and services engineering operations, Pakistan Petroleum Limited (PPL), Government Holding Private Limited (GHPL)and, Pakistan Petroleum Limited (PPL). Oil and Gas Development Company Limited (OGDCL) has admirably restored production from Nashpa-4. OGDCL stated that the well was reconsidered for the upper zone of the Lockhart formation potential. This has led to an increase of 330 barrels per day (bpd) of oil and 7.7 million standard cubic feet (MMSCF) of gas, with a wellhead flowing pressure of 1570 pounds per square inch (PSI). Moreover, the well is producing 21 metric tons per day (MT) of liquefied petroleum gas (LPG). Nashpa-4 restoration highlights OGDCL's competence and compatibility in enhancing production from existing wells, contributing to Pakistan's oil and gas sector.
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Pakistan Cement Sector Forecasts
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The cement industry, a bedrock of Pakistan’s infrastructure construction and development and a significant indicator of economic stability, is crossing through regulatory deviations while capitalizing on export prospects and opportunities to sustain growth amidst domestic challenges. In a challenging economic position marked by instable demand and regulatory changes, Pakistan’s cement industry is poised for a retiring growth of 2.4% year-on-year in the fiscal year 2025. This estimation comes on the heels of a 2% year-on-year rise in cement export during FY24, with total volumes reaching 45.29 million tons. The growth in FY24 was largely driven by a surge in export volumes, counterbalancing a weakening in local sales to a seven-year low. The projected growth in FY25 is anticipated to be bolstered primarily by an uptick in exports, as international demand continues to show promise.
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Parco, pursued approval from Ogra to enable the export of Fuel oil. The Oil & Gas Regulatory Authority (Ogra) has permitted Pak Arab Refinery Limited (Parco) to export 50,000 metric tons (MT) of furnace oil (FO) for the month of July in the current fiscal year. The export volume of furnace oil has been reached to extraordinary levels, with the country exporting over 800,000 MT during the recently settled financial year, making a historically high export of furnace oil. Previously expectations of dipping furnace oil production under the Brownfield Refinery Policy have been delayed, the upgrade policy is anticipated to enable refineries to increase the total production of Motor Spirit by 99 per cent and diesel by 47 per cent. And leading to the reduced production of furnace oil by 78 per cent. For domestic consumption refineries therefore ramped up diesel and petrol production, leading to excess production of furnace oil available for export. Exporting furnace oil has now turn out to be indispensable for refineries to maintain operational efficiency and competence owing to the storage limitations challenge caused by excessive accumulation. Pakistan’s refining sector has been grappling with diminishing local demand for furnace oil, resulting in periodic surpluses and storage challenges.
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Parco To Export 50,000 Tons of Fuel Oil
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Over 3.2 million metric tons of edible oil are imported into the country, and Pakistan imports edible oil worth $6 billion, the second-largest import after furnace oil. To promote the valuable crop, the cultivation of palm oil among farmers, Agronomists and professional called for palm Oil cultivation Pakistan. Sindh Agriculture University (SAU) Tando Jam has successfully conducted an experiment on palm oil production. A combined struggle between the government, research institutions, and the Coastal Development Authority to boost farmers to grow palm oil. Experts stressed the significance of emerging marketing mechanism for farmers and boosting them to cultivate palm oil, and for urban investors to invest in agriculture without using security concerns as an excuse. This initiative could considerably shrink the import of edible oil and support the ongoing economic crisis. Intensifying local edible oil production through palm oil farming in coastal, saline, and humid areas could expressively support the economic status of Pakistan.
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