Photonews Logo Photonews logo
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Azad Jammu Kashmir
    • Balochistan
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
    Good Fortune trailer
    Videos

    First Trailer for Aziz Ansari’s Good Fortune, Starring Keanu Reeves

    May 29, 2025 2 Min Read
    Last of Us Season 2
    Videos

    ‘The Last of Us’ Season 2 Premieres Date What to Expect From HBO’s Hit Series

    April 13, 2025 2 Min Read
    Disney Snow White box office
    Videos

    Snow White Teaser Drops: Gal Gadot and Rachel Zegler Shine

    February 22, 2025 1 Min Read
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Reading: PSO Approves Sale Purchase Agreement with Azerbaijan’s SOCAR
PhotoNews Pakistan PhotoNews Pakistan
Font ResizerAa
Search
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Balochistan
    • Azad Jammu Kashmir
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Have an existing account? Sign In
Follow US
© 2022 Photonews. All Rights Reserved.
PSO SOCAR Agreement
PhotoNews Pakistan > Business > PSO Approves Sale Purchase Agreement with Azerbaijan’s SOCAR
Business

PSO Approves Sale Purchase Agreement with Azerbaijan’s SOCAR

Web Desk
By Web Desk Published December 27, 2024 2 Min Read
Share
SOCAR and PSO emblem.
SHARE

Pakistan State Oil’s (PSO) Board of Management (BoM) has officially approved the execution of a Sale Purchase Agreement (SPA) with the State Oil Company of the Republic of Azerbaijan (SOCAR), marking a significant step in international energy cooperation.

Through a detailed dispatch, PSO has informed the Pakistan Stock Exchange (PSX) about this critical development. The communication outlined the SPA endorsement by various government bodies, including the Ministry of Energy (Petroleum Division).

On December 3, 2024, the Ministry of Energy notified PSO that the Economic Coordination Committee (ECC) had approved the SPA, which the Federal Cabinet subsequently ratified. The Ministry urged PSO to expedite arrangements to sign the agreement with SOCAR.

Read: PSO in Negotiations to Acquire Energy Company Stakes Amid Debt Crisis

The PSO’s letter to the PSX further detailed that the SPA’s execution followed its approval by the PSO’s Board and receipt of the signed agreement from SOCAR on December 24, 2024. The execution of this agreement is scheduled to proceed shortly.

The Ministry of Energy had previously directed PSO on December 3, 2024, to begin the signing process following the ECC’s approval. The formal signing occurred on December 24, underscoring a rapid progression from approval to execution.

The agreement between PSO and SOCAR aims to greatly enhance the energy sectors of both nations, strengthening their economic partnership. This initiative is a part of the Pakistani government’s wider efforts to secure a reliable energy supply for its domestic consumers.

TAGGED:Featured
Share This Article
Facebook Twitter Pinterest Whatsapp Whatsapp LinkedIn Email Copy Link Print
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

Dead Take 2025 psychological horror

Dead Take: Surgent Studios’ Psychological Horror Game Set for 2025 Release

Ayatollah Ali Khamenei Iran Nuclear Talks

Iran’s Khamenei Rejects US Nuclear Deal, Defends Uranium Enrichment

Adolescence

Adolescence Becomes Netflix’s Second Biggest English TV Series

Malir Jail Karachi Prisoner Escape

Sindh Orders Arrest of Malir Jail Constable in Massive Jailbreak Probe

Punjab solar panel guidelines 2025

Punjab Issues Solar Panel Installation Guidelines Amid Net Metering Cuts

Post Archives

More Popular from Photonews

Babar Azam T20 controversy
Sports

Babar Azam’s Father Slams Kamran Akmal Over T20 Exclusion Comments

2 Min Read
Taylor Swift albums 2025
Entertainment

Taylor Swift Reclaims Ownership of First Six Albums from Shamrock Capital

2 Min Read
Meghan Markle garden backlash
Entertainment

Meghan Markle Faces Backlash Over Alleged Fake Garden Harvest Post

2 Min Read
Pakistan

PIA Resumes Dubai-Skardu Flights

Pakistan International Airlines (PIA) has announced the resumption of direct flights from Dubai to Skardu starting…

May 29, 2025
Top NewsWorld

China’s Rare Earth Export Ban Sparks Global Alarm for Automakers

On June 3, 2025, global automakers, including German and Indian manufacturers, raised alarms over China’s April…

June 4, 2025
Punjab

Punjab Cabinet Slashes Electricity Bills, Launches Air Punjab

The Punjab Cabinet, headed by Chief Minister Maryam Nawaz, announced a 30-40% reduction in electricity bills…

June 4, 2025
Business

Sanofi Acquires Blueprint Medicines for $9.5B

On June 2, 2025, French pharmaceutical giant Sanofi announced its acquisition of U.S.-based Blueprint Medicines for…

June 2, 2025
PhotoNews Pakistan

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

Categories

  • World
  • Pakistan
  • Punjab
  • Sindh
  • Khyber Pakhtunkhwa
  • Balochistan
  • Azad Jammu Kashmir

 

  • Top News
  • Business
  • Entertainment
  • Sports
  • Videos
  • Tech
  • Offbeat
  • Blog

© 2024 Phototnews
All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?