
PEL Acquires $60M Assets from Kuwait KUFPEC in Pakistan Exit
In recent developments, a foreign company has started to pull out from Pakistan’s oil and gas sector. This company, KUFPEC (Kuwait Foreign Petroleum Exploration Company), has sold its assets worth approximately $60 million to a local entity, Pakistan Energy Limited (PEL). The decision to sell is due to several challenges in Pakistan’s energy sector, especially…