The Oil and Gas Regulatory Authority (OGRA) has announced a significant reduction in the price of domestic LPG cylinders for March. The price of an 11.8 kg domestic LPG cylinder has been reduced by Rs 72.57, bringing the new price to Rs 2,924.31.
This move is expected to provide relief to households across the country.
Meanwhile, the latest data on oil and gas production in Pakistan reveals a slight decline in output.
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According to the Pakistan Petroleum Information Service (PPIS) and industry data, the average daily production of crude oil for the week ending February 21 stood at 60,511 barrels, marking a 1% decrease compared to the previous week’s production of 61,345 barrels.
Similarly, the country’s average daily gas production for the same week was recorded at 2,644 million cubic feet per day (MMCFD), reflecting a 3% drop from the previous week’s figure of 2,716 MMCFD.
Breaking down the production figures by company, the Oil and Gas Development Company Limited (OGDCL) recorded an average daily crude oil production of 30,066 barrels, while Pakistan Petroleum Limited (PPL) produced 8,727 barrels, Mari Gas Company 1,084 barrels, and Pakistan Oilfields Limited (POL) 3,730 barrels. In terms of gas production, OGDCL contributed 526 MMCFD, PPL 489 MMCFD, Mari Gas 826 MMCFD, and POL 43 MMCFD during the same period.
The decline in oil and gas production highlights the challenges faced by the energy sector, while the reduction in LPG prices offers some respite to consumers amid rising inflation.
