Govt decreases petrol price by Rs4.26
The government would suffer an estimated loss in revenue of Rs 10 billion as a result of the reduction in petroleum prices.
Iranian oil minister calls Trump’s order to OPEC insulting
"Mr Trump sends every day a new message that creates uncertainty in the market," Iranian Oil Minister Bijan Zanganeh said in an interview with state television.
BP in lead to acquire BHP’s U.S. onshore shale assets: sources
The acreage for sale includes holdings that BHP acquired in its $12-billion takeover of Petrohawk Energy in 2011, which have declined rapidly in value as the price of natural gas has fallen from $4.50 at the time of the deal to a low of $1.60 last year
Govt willing to reduce GST on HSD to appease apex court
At current rates, the government hopes to fetch Rs55 billion per month on all POL products which includes Rs22 billion from petrol, Rs30 billion from HSD and Rs500 million from other products
Pakistan curbs fuel oil imports as power generation requirements ease
Pakistan State Oil (PSO) has reduced its fuel oil imports for power generation as monsoon rains have lowered the demand for electricity for cooling, contributing to a decline in fuel oil premiums from the multi-year highs reached last week.
NEPRA rejects KE’s demand, notifies new tariff of Rs12.81/KWH
KARACHI: The National Electric Power Regulatory Authority (NEPRA), while rejecting the demand of K-Electric (KEL) for the restoration of previous Multi Year...
Asia’s oil refiners rush to deal with U.S.-China trade war, looming Iran sanctions
As part of a wave of retaliation for Friday’s U.S. tariffs, China has threatened a 25 percent duty on imports of U.S. crude. Meanwhile, Washington’s new sanctions against Tehran are due to kick in from November
Asian stocks wobble as Sino-U.S. trade war begins
MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.1 percent lower, pulling back from a modest early rise. The index has lost near 9 percent since June 7
Power sector billing recovery stalls, financial gap widens to Rs324 billion for July-April FY18
Total billing of discos amounted to Rs976.339 billion during the first ten months (July-April) FY18 and total receipts were recorded at Rs652.158 billion
Oil dips in nervous trading as U.S.-China trade war looms
Brent crude futures fell 25 cents, or 0.3 percent, to $77.14 per barrel by 0317 GMT from their last close
Nepra rejects K-Electric’s demand and notifies new MYT of Rs 12.81/KWH
The decision of NEPRA regarding the MYT may jeopardize its investment in major projects including 900 MW project being set up at Bin Qasim port area, the sources said
Pakistan LNG cancels tender after high offers
The company still has a separate tender seeking five cargoes of the super-chilled fuel for September to October delivery
Oil declines as Trump calls OPEC to cut prices
Brent crude futures were at $77.68 per barrel at 0405 GMT, down 56 cents, or 0.7 percent, from their last close
K-Electric seeks five-year extension for old power units
K-Electric intended to invest Rs1.761 billion for the rehabilitation of unit I and II, out of which an amount of Rs1.522 billion has already been spent on their maintenance
Rs128 million fraud in IESCO uncovered by auditors
IESCO is accused of having made excessive and incorrect payments to contractors and auditors have recommended them to be recovered