Vopak LNG expresses interest in acquiring minority stake in Engro’s LNG infrastructure
Talks are ongoing between Engro Corp and Volpak LNG which are subject to the parties entering into definitive agreements and obtaining required Board, shareholder and regulatory approvals
Govt irked at non-expenditure of billion-rupee funds meant for oil and gas fields
Taking serious exception to this, the committee directed details of funds from all fields and companies be presented before the upcoming session to determine how the funds were utilized, their outcomes delivered and where they remain unused and in what quantities
OGDCL receivables surge to over Rs200b
ISLAMABAD: The Senate Standing Committee on Petroleum on Thursday was apprised that receivables of Oil and Gas Development Authority Limited (OGDCL) have piled up...
Oil dips but markets remain tight due to disruptions, record demand
Oil prices have been rallying for much of 2018 on tightening market conditions due to record demand and voluntary supply cuts led by the Middle East dominated producer cartel of the Organization of the Petroleum Exporting Countries (OPEC)
Govt approves hike in margins of petrol, diesel sales
Petroleum Division announced a rise of 9 paisa per litre for OMCs on petrol and 12 paisa for dealers which means margins for the former would increase up to Rs2.64 per litre from Rs2.55
Nepra releases new guidelines for tariff determination of power projects, equity participation
For hydropower projects having capacity up to 50 megawatts and construction periods crossing two years, a spread not surpassing 2.5 percent over Kibor will get authorized
Power tariff scaled up by Rs1.25 per unit
ISLAMABAD:Â The National Electric Power Regularity Authority (NEPRA) has given the approval to increase power tariff by Rs1.25Â per unit.
This approval of the...
Punjab caretaker cabinet resolves to work with local business community
LAHORE: In a rare interaction with the private sector, the Punjab Cabinet on Tuesday expressed the resolve to work hand in hand with the...
Oil prices fall 1.5 percent on OPEC’s deal to raise output
Brent crude futures were at $74.22 per barrel at 0455 GMT, down 1.8 percent from their last close
OCAC asks FBR to clear ambiguity regarding advanced tax on POL products
Whilst the prices of high-speed diesel were deregulated, ambiguity remains over the aforementioned section, as OCAC believes advance tax also needs to be collected from distributors, which doesn’t conform to features of the budget announced for FY19
OGRA raises gas prices by 300pc for domestic consumers
ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has jacked up gas prices for domestic consumers by 300 per cent while 30...
Coal imports to be discharged at Port Qasim
Following Supreme Court’s ban on unloading of thermal coal at Karachi port, Pakistan's thermal coal importers will now have to discharge all of their cargoes at Port Qasim from August.
OPEC agrees modest hike in oil supply after Saudi and Iran compromise
The United States, China and India had urged oil producers to release more supply to prevent an oil deficit that could undermine global economic growth
SC asks govt to reevaluate process of levying taxes on POL products
The Chairmen of Oil and Gas Regulatory Authority (Ogra), Federal Board of Revenue (FBR) and MD Pakistani State Oil (PSO) were instructed to provide reports about a fresh formula for the correct fixing of prices for POL products in a span of ten days
Govt notifies revised oil licensing and fee structuring rules
The dispute had raged on since an out-of-court settlement was reached in June last year between Ogra and Oil Companies Advisory Council (OCAC) over the licensing and fee structure conditions