Pakistan, Turkiye sign offshore bidding pact for joint oil and gas exploration

Turkish Minister for Energy & Natural Resources, Alparslan Bayraktar (center, standing), and Pakistan's Minister for Petroleum, Ali Pervaiz Malik (second right, standing), pose as both sides signs an agreement at the sidelines of Pakistan Minerals Investment Forum 2025, in Islamabad, Pakistan, on April 8, 2025. (@Official_PetDiv/X)
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Updated 11 April 2025
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Pakistan, Turkiye sign offshore bidding pact for joint oil and gas exploration

  • Pakistan’s offshore consists of two distinct basins, Makran and Indus, which together cover area greater than 282,623 sq km
  • Pakistan announced offshore block bid round in February, offering 40 blocks in Makran and Indus basins for exploration licenses

ISLAMABAD: Pakistan and Turkiye this week signed a joint agreement to participate in an offshore oil and gas exploration bid round in Pakistan, the press information department said in a statement. 

The agreement was signed on the sidelines of the Pakistan Minerals Investment Forum 2025 by Pakistani Minister for Petroleum Ali Pervaiz Malik and Turkiye’s Minister of Energy and Natural Resources Alparslan Bayraktar.

Under the agreement, leading Pakistani exploration and production (E&P) companies — Mari Energies Limited, Oil & Gas Development Company Limited (OGDCL), and Pakistan Petroleum Limited (PPL) — will partner with Turkish state-owned enterprise Türkiye Petrolleri Anonim Ortaklığı (TPAO) to jointly bid for offshore blocks.

“This bid round is a significant opportunity for attracting foreign direct investment (FDI) in the country’s upstream energy sector,” the press information department statement said. 

“We believe that this strategic collaboration [with Turkiye] will bring much-needed FDI to Pakistan and pave the way for the sharing and deployment of international technologies, expertise, and skillsets to explore and exploit the untapped potential of Pakistan’s offshore region.”

Pakistan’s offshore consists of two distinct geological basins, Makran and Indus, which together cover an area greater than 282,623 sq km. 

In a major policy shift aimed at revitalizing Pakistan’s energy sector, the government in February announced the auction of 71 oil and gas exploration blocks, 40 offshore and 31 onshore, while also unveiling plans to deregulate fuel prices. These measures are expected to enhance domestic energy production, attract foreign investment, and introduce competitive pricing in the petroleum market.

Then Federal Minister for Petroleum Musadik Malik made the announcement at the Annual Oil and Gas Conference in Islamabad in February, highlighting the urgent need to expand exploration efforts. He said Pakistan had drilled only 18 offshore wells in the past 60 years, far behind regional peers such as India and Bangladesh, which have made significant discoveries in offshore fields. 

To bridge this gap, the government was now offering 40 offshore blocks for bidding, providing investors with an opportunity to tap into the country’s largely unexplored maritime energy reserves. Additionally, 31 onshore blocks had been made available to expand domestic oil and gas production.
 


Pakistan denies Indian accusations of attacks in Punjab, Kashmir as both neighbors continue to trade fire

Updated 19 min 21 sec ago
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Pakistan denies Indian accusations of attacks in Punjab, Kashmir as both neighbors continue to trade fire

  • Tensions between the two neighbors have escalated into a limited-scale military conflict since India struck multiple locations in Pakistan
  • Both neighbors have since fired and sent drones and missiles into each other’s airspace, killing around four dozen people on both sides

ISLAMABAD: Pakistan categorically rejects the “baseless and irresponsible” Indian accusations of launching attacks in Punjab, Indian-administered Kashmir and Rajasthan, its foreign ministry said on Thursday, after New Delhi said it had repelled attacks in Jammu, Udhampur and Pathankot areas.
Tensions between the two neighbors over an April 22 attack in Indian-administered Kashmir’s Pahalgam have escalated into a limited-scale military conflict when India struck on Wednesday multiple locations in Pakistan after New Delhi blamed the assault on Pakistan. Islamabad has denied involvement.
Pakistan has claimed to have shot down five Indian fighter jets and 29 Israeli-manufactured Harop drones, launched from India, in retaliation to Indian missile and drone strikes this week. India said it had destroyed an air defense system in Lahore in response to a Pakistani air attack.
Both sides have traded heavy fire across their de facto border in the disputed Kashmir region, while a Pakistani minister said on Thursday they had killed several Indian soldiers. It was not possible to immediately verify all of the claims made by both nuclear-armed arch-rivals.
“These claims are entirely unfounded, politically motivated, and part of a reckless propaganda campaign aimed at maligning Pakistan,” the Pakistani foreign ministry said, rejecting Indian accusations of launching attacks in Punjab, Kashmir and Rajasthan.
“The repeated pattern of leveling accusations against Pakistan without any credible investigation reflects a deliberate strategy to manufacture a pretext for aggression and to further destabilize the region. Such actions not only further endanger regional peace but also reveal a disturbing willingness to exploit misinformation for political and military ends.”
Shesh Paul Vaid, a former director-general of police in Indian-administered Kashmir, told The Associated Press that the Jammu airport was also likely under attack and that some of the 50 loud explosions he had heard were likely because “our defense system is at work.”
Sirens blared for more than two hours on Friday in India’s border city of Amritsar, which houses the Golden Temple revered by Sikhs, and residents were asked to remain indoors.
A Pakistani security source said India wanted to justify its military actions against Pakistan by spreading “fabricated and false attack reports” in Kashmir, Rajasthan and other areas.
“India has failed to provide any solid evidence against Pakistan,” the source said.
World powers from the US to China have urged the two countries to calm tensions, and US Vice President JD Vance on Thursday reiterated the call for de-escalation.
“We want this thing to de-escalate as quickly as possible. We can’t control these countries, though,” he said in an interview on Fox News.
Chinese Foreign Ministry spokesperson Lin Jian said Beijing was concerned over the developments and urged both sides to exercise restraint.
“We stand ready to work with the rest of the international community to continue playing a constructive role in easing the current tensions,” Lin told a press briefing.
The relationship between Hindu-majority India and Islamic republic Pakistan has been fraught with tension since they became separate countries after attaining independence from colonial British rule in 1947. Kashmir, a Muslim-majority region, has been at the heart of the hostility and they have fought two of their three wars over the region.


PSL X: Pakistan moves all remaining matches to UAE amid ongoing conflict with India

Updated 09 May 2025
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PSL X: Pakistan moves all remaining matches to UAE amid ongoing conflict with India

  • Fighting has escalated between the two nuclear-armed neighbors since Wednesday when India struck multiple locations in Pakistan
  • Pakistan says it has shot down five Indian fighter jets and 29 Israeli-manufactured Harop drones, launched by New Delhi, in retaliation

ISLAMABAD: The Pakistan Cricket Board (PCB) has moved all remaining matches of the Pakistan Super League’s 10 edition to the United Arab Emirates (UAE), it announced on Friday, after deadly confrontations between nuclear-armed India and Pakistan.
Border skirmishes between the two South Asian neighbors have escalated since Wednesday when India conducted missile strikes on multiple locations in Pakistan in response to a deadly attack targeting tourists in Indian-administered Kashmir on April 22 that New Delhi blames on its neighbor. Islamabad has denied any complicity in the attack.
Pakistan said it had shot down five Indian fighter jets in retaliation to Wednesday’s strikes by India, while 29 Israeli-manufactured Harop drones, launched from India, were downed a day later. Officials have confirmed the killing of nearly 50 people on both sides since Wednesday, in the worst violence in decades between the South Asian neighbors.
Amid the escalating situation, the PCB said the remaining eight fixtures of this year’s PSL, which were previously scheduled to be played in Rawalpindi, Multan and Lahore, will now be staged in the UAE, adding that the new dates and venues of the matches will be shared in due course.
“The PCB has always stood by the position that politics and sports need to be kept apart,” PCB Chair Mohsin Naqvi said.
“However, in view of the extremely irresponsible and dangerous Indian act of targeting the Rawalpindi Cricket Stadium, which was manifestly done to disrupt the ongoing HBL Pakistan Super League X, the PCB has decided to shift the remaining matches to UAE so that the domestic as well as foreign cricketers, who are our precious guests, can be saved from the possible reckless targeting by India.”
The PCB postponed a PSL X match between Peshawar Zalmi and Karachi Kings, which was due to take place at the Rawalpindi Cricket Stadium on Thursday after Pakistan shot down an Indian drone near the venue.
As a responsible organization, Naqvi said, it was important for the PCB to ensure the mental well-being of all players participating in the league.
“I regret that our domestic audience and cricket lovers will not be able to watch these matches in Pakistan’s stadiums,” he said.
“Like in the past, we hope that our stakeholders will rally with us to further the best interests of the tournament, our players and the fans. We are committed to ensuring that the league continues to thrive!“
Separately, an Indian Premier League (IPL) match between Punjab Kings and Delhi Capitals in Dharamsala — less than 200 kilometers (125 miles) from the town of Jammu where explosions were reported hours earlier — was also abandoned Thursday because of apparent floodlight failure.


Pakistan’s currency exchange union offers $1 billion to government in case of war

Updated 09 May 2025
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Pakistan’s currency exchange union offers $1 billion to government in case of war

  • Currency markets are not in a state of panic, ECAP Chairman Malik Muhammad Bostan says
  • Record-breaking 6,482-point plunge stunned the Pakistan Stock Exchange on Thursday

KARACHI: The Exchange Companies Association of Pakistan (ECAP) has offered $1 billion per month to the government in case of war or an emergency, the organization said on Thursday, as fears have grown that the worst confrontation in two decades of conflict between India and Pakistan could escalate.

India on Wednesday struck what it said was “terrorist infrastructure” in Pakistan and Azad Kashmir and Pakistan said it retaliated by shooting down five Indian aircraft. The Indian strikes killed 31 people and injured 57, Pakistan’s army said. 

On Thursday, Pakistan’s military said it shot down 29 drones from India at multiple locations, including the two largest cities of Karachi and Lahore and the garrison city of Rawalpindi, home to the army’s headquarters. 

The Indian defense ministry said Pakistan attempted to engage a number of military targets in northern and western India from Wednesday night into Thursday morning and they were “neutralized” by Indian air defense systems. In response, Indian forces targeted air defense radars and systems at a number of locations in Pakistan on Thursday, the ministry said.

“We are capable of providing the government with $1 billion (Rs280 billion) dollars per month in case of war or emergency,” ECAP Chairman Malik Muhammad Bostan said. “There is no panic in the currency markets.”

Exchange companies provide $25 million (Rs7 billion) daily to the interbank market, the statement said, adding that they had managed to sell $10 million (Rs2.8 billion) in the interbank market despite fresh tensions between Pakistan and India.

The statement quoted Bostan as saying the inflow of dollars would increase after flight operations returned to normal. 

The ECAP offer came amid a record-breaking 6,482-point plunge at the Pakistan Stock Exchange (PSX), marking the largest single-day decline in the index’s history as investors feared escalation in the standoff between India and Pakistan.

The relationship between India and Pakistan has been fraught with tension since they gained independence from colonial Britain in 1947. The countries have fought three wars, two of them over Kashmir, and clashed many times.

The countries, which both claim Kashmir in full and rule over parts of it separately, acquired nuclear weapons in the 1990s.


Islamabad denies as India says military stations attacked by drones and missiles

Updated 08 May 2025
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Islamabad denies as India says military stations attacked by drones and missiles

  • Sirens sounded and red flashes and projectiles erupted in the night sky above Jammu for about 2-1/2 hours
  • Islamabad says accusations “entirely unfounded, politically motivated, part of reckless propaganda campaign“

JAMMU/ ISLAMABAD: Blasts rang out across the Indian city of Jammu late on Thursday during what the government said was a Pakistani drone and missile attack on military stations around the Kashmir region on the second day of clashes between the nuclear-armed neighbors.
Sirens sounded and red flashes and projectiles erupted in the night sky above Jammu for about 2-1/2 hours, a Reuters journalist said, in what appeared to be an escalation in the countries’ worst confrontation in more than two decades.
Two days of fighting have killed nearly four dozen people.
“Military stations at Jammu, Pathankot & Udhampur were targeted by Pakistani-origin drones and missiles along the international border in J&K today,” India’s Ministry of Defense said on X, citing places in and near the federal territory of Jammu and Kashmir.
“The threats were swiftly neutralized .... No casualties or material losses were reported.”
Indian TV channels also showed flares and flashes in the sky above Jaisalmer city in Rajasthan state, which shares a border with the southern Pakistani province of Sindh.
In a statement, Islamabad denied attacking Pathankot in India’s Punjab state, Srinagar in the Kashmir Valley and Jaisalmer and said the accusations were “entirely unfounded, politically motivated, and part of a reckless propaganda campaign aimed at maligning Pakistan.”
Pakistan’s Ministry of Foreign Affairs said the country would respond to any escalation “with full resolve and determination to safeguard Pakistan’s sovereignty and territorial integrity.”
Electricity in Jammu was slowly being restored after a blackout during the attack, a Reuters journalist said.
Eight missiles, fired from Pakistan at the Jammu region towns of Satwari, Samba, Ranbir Singh Pura and Arnia, were intercepted by air defense units, added an Indian military source who asked not to be named.
They were part of a wider attack, the source added.
Pakistan’s Defense Minister Khawaja Muhammad Asif earlier said further retaliation was “increasingly certain” after both countries accused each other of launching drone attacks.
World powers from the US to Russia and China have called for calm in one of the world’s most dangerous and populated nuclear flashpoint regions. The US Consulate General in Pakistan’s Lahore ordered staff to shelter in place.
US Secretary of State Marco Rubio called for de-escalation in separate calls with Indian Foreign Minister Subrahmanyam Jaishankar and Pakistani Prime Minister Shehbaz Sharif on Thursday, the State Department said.
The relationship between India and Pakistan has been fraught with tension since they gained independence from colonial Britain in 1947. The countries have fought three wars, two of them over Kashmir, and clashed many times.
The neighbors, which both claim Kashmir in full and rule over parts of it, separately acquired nuclear weapons in the 1990s.

DRONES, MISSILES, AIR DEFENCES

In the latest confrontations, India said it hit nine “terrorist infrastructure” sites in Pakistan on Wednesday in retaliation for what it says was a deadly Islamabad-backed attack in Indian-administered Kashmir on April 22.
Pakistan says it was not involved and denied that any of the sites hit by India were militant bases. It said it shot down five Indian aircraft on Wednesday.
Pakistan’s military said earlier on Thursday it shot down 29 drones from India at multiple locations including the two largest cities of Karachi and Lahore and the garrison city of Rawalpindi, home to the army’s headquarters.
The Indian defense ministry said Pakistan attempted to engage a number of military targets in northern and western India from Wednesday night into Thursday morning and they were “neutralized” by Indian air defense systems.
In response, Indian forces targeted air defense radars and systems at a number of locations in Pakistan on Thursday, the ministry said.
Before trading ended, both countries saw their stocks, bonds and currencies decline, and Pakistan’s benchmark share index closed down 5.9 percent.
Local media reported panic buying in some cities in the Indian state of Punjab, which shares a border with Pakistan, as people hoarded essentials.


US secretary of state Rubio urges Islamabad and New Delhi to step back

Updated 08 May 2025
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US secretary of state Rubio urges Islamabad and New Delhi to step back

  • Marco Rubio holds separate phone calls with Pakistani PM and Indian external affairs minister 
  • Urges Pakistan and India to improve communications, engage in “direct dialogue” to de-escalate 

ISLAMABAD: US Secretary of State Marco Rubio on Thursday held separate telephone calls with Pakistan’s premier and the external affairs minister of India and urged the two nations to engage in “direct dialogue” to de-escalate their ongoing conflict, the state department said. 

India hit Pakistan and Pakistan-administered Kashmir, called Azad Kashmir, with missiles on Wednesday and Pakistan said it shot down five Indian aircraft in retaliation in their worst clash in over two decades. Pakistan said 31 civilians were killed in the Indian strikes while New Delhi says it targeted “terror camps.”

On Thursday, Pakistan said it had shot down 29 drones launched by India while New Delhi said it had “neutralized” Islamabad’s attempts to target military targets with drones and missiles.

“He expressed US support for direct dialogue between India and Pakistan and encouraged continued efforts to improve communications,” the state department said in two separate statements after Rubio spoke to Pakistani Premier Shehbaz Sharif and Indian External Affairs Minister Subrahmanyam Jaishankar. 

“The Secretary emphasized the need for immediate de-escalation.”

India is an important US partner for Washington, which aims to counter China’s rising influence, while Pakistan remains an ally, despite its diminished importance after the US withdrawal from neighboring Afghanistan in 2021.

Both India and Pakistan claim Muslim-majority Kashmir in full, with each controlling only part and having fought wars in the past over the region.

The latest standoff was triggered by an April 22 attack in Indian-administered Kashmir that New Delhi blamed on Pakistan, which has denied the claims and called for a neutral investigation.