Oil and Gas Development Company Limited (OGDCL), Pakistan’s largest exploration and production company on Thursday signed Petroleum Concession Agreements (PCAs) for five new exploration blocks awarded in the bidding round held on April 30, 2025. The signing ceremony for the blocks was held at the Ministry of Energy (Petroleum Division) in Islamabad. The provisional awards had been announced ear
Dour sentiment persisted in the Asian trading day on Friday as concerns about technology company valuations weighed on shares and Middle East tensions kept energy markets on edge. Japanese shares followed Wall Street lower after what appeared to be glowing results from AI sector bellwether Nvidia failed to impress investors. The yen and US Treasuries rose, while gold held steady after a two-
In a move aimed at bolstering Pakistan’s energy infrastructure, Frontier Works Organization (FWO) has mandated local banks to arrange a project finance facility of up to Rs 75.9 billion. HBL has been appointed as the InterCreditor Agent and Mandated Lead Arranger for the facility. Frontier Oil Company (FOC), a project company of FWO, is raising this strategic financing to develop a dualcarriage
The Competition Commission of Pakistan (CCP) has approved the proposed acquisition of the Attock Cement Pakistan Limited by Fauji Cement Company Limited and Kot Addu Power Company Limited, following a Phase-I competition assessment conducted under the Competition Act, 2010. On February 3, 2026, Fauji Cement Company Limited and Kot Addu Power Company Limited filed a pre-merger application for th
Pakistan’s long-awaited 5G spectrum auction will be held on March 10, 2026, with major telecom operators already depositing USD45 million as advance participation fees, signalling strong industry interest in the rollout of next-generation mobile services. The National Assembly Standing Committee on Information Technology and Telecommunication was chaired by Syed Amin ul Haq, MNA, in which the c