ISLAMABAD (March 11, 2010): Despite the fact that power and oil sectors are in critical situation due to circular debt, the Finance Ministry has no immediate plan for fund releases or commitment to bail them out during the coming month of April, Business Recorder has learnt.

ISLAMABAD (March 11, 2010): FFC Energy Limited (FFCEL), on Wednesday finalised contracts of Engineering, Procurement and Construction (EPC) and Operation and Maintenance (O&M) with Nordex of Germany for development of 50 Megawatt Wind Power Project at Jhimpir, Sindh.

ISLAMABAD (March 11, 2010): As a part of its efforts to protect environment, ENERCON is introducing an effective fuel efficiency Gadget "PERFECT" whose effectiveness was proven by Pakistan Environment Protection Agency (EPA) and National Energy Conservation Centre (ENERCON), Ministry of Environment through detailed on the ground tests.

KARACHI (March 11, 2010): Pakistan Petroleum Dealers Association (PPDA) and Ecommerce Gateway Pakistan have signed a Memorandum of Understanding (MoU) to collaborate with each other for the Oil & Gas Asia International Exhibition and Conference for the next 5 years.

ISLAMABAD (March 11, 2010): Pakistan and Iran will ink a final on Iran-Pakistan gas pipeline project on March 16, 2010. Two countries will sign the Heads of Agreement (HoA) and certain Conditions Precedents (CPs) to make the Gas Sales Purchase Agreement (GSPA) effective. Managing Director Inter State Gas Systems (ISGS) revealed to National Assembly Standing Committee on Petroleum and Natural Resources here on Wednesday.

ISLAMABAD (March 11, 2010): Several vehicle owners in twin cities of Rawalpindi and Islamabad have asked the concerned authorities to devise a mechanism for checking the quality and quantity of gas and its pressure at Compressed Natural Gas (CNG) stations. Talking to APP they claimed that the CNG stations were fleecing the public by supplying low quality gas while its pressure was also not satisfactory.

KARACHI (March 11, 2010): The drilling at the offshore Shark-01 well has reached 95 percent and it is expected to take another week to touch the targeted depth of 3,538 meters. The results of Offshore Shark-1 are eagerly awaited because a commercially viable discovery could unlock the prospects of this area, analysts said.

KARACHI (March 11, 2010): Chief Executive of Iran-Pak Wind Power (Pvt) Ltd Khurram Sayeed on Wednesday called on Chief Minister Sindh Syed Qaim Ali Shah at Chief Minister House. He apprised the Chief Minister Sindh about his project, which will be undertaken by joint venture with complete loan from his firm.

ISLAMABAD (March 10, 2010): Pakistan is to allow Chinese Geological Survey to explore oil, gas and other minerals on its soil after formal approval of the Federal Cabinet, and signing of Memorandum of Understanding (MoU) with Geological Survey of Pakistan (GSP), official sources told Business Recorder here on Tuesday.

ISLAMABAD (March 10, 2010): Any interruption in the fuel supply chain due to rising circular debt may lead to power breakdown for long durations as oil inventory stock, held by power generation companies, has plummeted, and is enough to meet 1-4 days' requirements, Business Recorder has learnt.