Friday, October 17 2025

Mari Energies announces oil & gas discovery in Sindh
Mari Energies Limited (MARI) announced on Friday the discovery of oil and gas in Sindh’s Mari Ghazij CF-B1 Well. MARI disclosed the development in a notice to the Pakistan Stock Exchange (PSX) on Friday. “Mari Ghazij CF-B1 well was spud-in on September 12, 2025 and successfully drilled down to the total depth of 1,195 meters into SUL formation,” the company said. Mari Energies announces first gas discovery at Soho-1 well in Sindh In its notice, MARI further said that the well targeted the oil-prone zones within Ghazij formation. “During testing, the well produced 305 barrels per day of oil along with 3 MMSCFD gas with wellhead flowing pressure (WHFP) of 225 Psi at 48/64 inch choke size.”
Related news categories: business economic-indicators oilgas-exploration oilgas-marketing psx stock-exchanges
Related symbols: mari (news stock)

Wednesday, October 08 2025

Oil up about 1% as oversupply fears ease after OPEC+ restrains output increase
Oil prices gained by about 1% on Wednesday as investors brushed off oversupply fears, having digested a decision earlier by OPEC+ to restrain production increases next month. Brent crude futures rose 63 cents, or 0.96%, to $66.08 a barrel by 0715 GMT. U.S. West Texas Intermediate crude climbed 66 cents, or 1.07%, to $62.39. The benchmarks settled broadly flat in the previous session as investors weighed signs of a supply glut against a smaller-than-expected increase to November output from the Organization of the Petroleum Exporting Countries and affiliates. “The market is in price limbo, with one side bent towards a possible supply glut and the other believing the ramp-up will not be as fast as anticipated,” said Emril Jamil, a senior analyst at LSEG Oil Research. Prices are trading higher for now as some traders are holding long positions, or bets that prices will rise, on continued efforts to curb Russian crude flows, Jamil added.
Related news categories: business misc oilgas-exploration oilgas-marketing

Tuesday, October 07 2025

Oil extends gains on smaller-than-expected OPEC+ output hike
Oil prices extended gains on Tuesday as a smaller-than-expected November output hike by OPEC+ helped to ease some fears of a growing supply glut. Brent crude futures advanced 23 cents, or 0.35%, to $65.70 a barrel by 0356 GMT. US West Texas Intermediate crude climbed 21 cents, or 0.34%, to $61.90. Both contracts settled more than 1% higher in the previous session after the Organization of the Petroleum Exporting Countries plus Russia and some smaller producers - known as OPEC+ - decided to increase its collective oil production by 137,000 barrels per day starting in November. The move was in contrast to market expectations for a more aggressive reintroduction of supply, a sign that the group remains cautious about increasing its production share in the global oil market amid predictions of a supply surplus in the fourth quarter as well as next year, said ING analysts.
Related news categories: business misc oilgas-exploration oilgas-marketing

Pakistan’s HUBCO charts diversification path with smelter, SPM, and EV
Hub Power Company Limited (HUBCO), Pakistan’s largest independent power producer (IPP), is exploring multiple options for its 1,100-acre base plant at Hub, including the establishment of an aluminium smelter and a Single Point Mooring (SPM) facility. Topline Securities, which attended the management meeting of HUBCO, shared the development in its report on Tuesday. During the meeting, HUBCO said that different options have been explored for its base plant at Hub. “An option to set up an aluminium smelter was explored, which is an energy-intensive business and could help address Pakistan’s surplus energy issue, while also allowing HUBC to use its existing base plant as a backup,” said the brokerage house.
Related news categories: business economic-indicators oilgas-exploration oilgas-marketing psx stock-exchanges
Related symbols: hubc (news stock)

Wednesday, October 01 2025

OGDCL announces major hydrocarbon discovery in Sindh
Oil & Gas Development Company Limited (OGDCL), the largest exploration and production (E&P) company in Pakistan, has announced a significant gas and condensate discovery at its Bitrism East-1 well, located in District Khairpur, Sindh. The listed company disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Wednesday. “OGDCL, the operator of Bitrism Exploration License holding 95% working interest, in joint venture with Government Holdings (Private) Limited (GHPL) with 5% working interest, is pleased to announce the discovery of gas/condensate at Bitrism East1, located in District Khairpur, Sindh,” read the notice. OGDCL shared that the well was spudded on June 30, 2025, and drilled down to a depth of 3,800 meters in the Sembar Formation, using the company’s in-house expertise in collaboration with its joint venture partner.
Related news categories: business economic-indicators oilgas-exploration oilgas-marketing psx stock-exchanges
Related symbols: ogdc (news stock)