OGRA revokes Rs566 mn penalty on Pakistan LNG Limited
Following reports of alleged pressure by former prime minister Shahid Khaqan Abbasi to revoke OGRA’s decision, OGRA has finally decided to cancel the RS560 million penalty placed on PLL for cancelling the import of four LNG cargoes to the country, and pass it on to consumer.
NAB starts investigation into appointments of heads of oil and gas companies
Appointments of heads at PSO, PLL, GHPL is being probed by NAB and notices have been sent to the Ministry of Energy (Petroleum Division) to furnish records
Installed generation capacity rose 30 percent during PML-N’s tenure
Power generation during the PML-N’s tenure grew from 22,812MW in 2012-13 to 29,573 megawatts till February this year
IP gas pipeline implementation to be reviewed in next financial year 2018-19
The 56-inch pipeline would start from the onshore gas processing facility at Assaluyeh in Iran to transverse a distance of 1,150km up to the Iran-Pakistan border
PSO clarifies its position with regards to ongoing rumours
KARACHI: Clarifying its position on recent rumours circulating in some quarters of the local media surrounding Pakistan State Oil (PSO), the nation’s...
Crude oil eases on record U.S. production, OPEC supply hopes
Global benchmark Brent crude, which was little changed in the previous session, was down 9 cents, or 0.1 percent, to $77.47 per barrel
Govt approves removal of Neelum-Jhelum surcharge from COD date
The outgoing government gave go-ahead to exemption from income tax on profits and gains of prevailing businesses carried out by people in Fata and Pata for next five years
Mangla refurbishment work to complete by 2023, increase power generation by 35 percent
Pakistan’s generation capacity will stand at around 35,000MW by 2019; of which 14,000MW would be generated through GE equipment
Govt to produce 33.50mbbl oil, 1.473tcf gas in FY2018-19
The government has set an ambitious target to produce 33.50 million barrel (mbbl) crude oil and 1.473 trillion cubic feet (tcf) natural gas through indigenous resources during the year 2018-19.
JSCL eyes oil marketing business
At the close of trading on Thursday, JSCL was trading on the PSX at Rs19.18 per share, up Rs0.13 or 0.68 per cent from the start of the day with 0.14 million shares traded.
PML-N’s performance review contrary to claims
High fiscal slippage, falling reserves, and rising debt major threat to the economy.
Cost effective gas supply ensured for all consumers : PM
ISLAMABAD: Prime Minister Shahid Khaqan Abbassi has said that the government has ensured cost-effective and efficient supply of gas to all the...
Wapda decides to acquire land for Mohmand Dam hydropower project
Originally, work on the project was slated to start in June 2012 and be concluded by September 2016 respectively
Oil prices fall amid worries Saudi Arabia, Russia could up supply
Brent crude was down 45 cent, or 0.6 percent, at $74.94 a barrel at 0325 GMT, after settling up 9 cents on Tuesday
Circular debt in power sector touches Rs573 billion
Joint secretary disclosed the government was extending a subsidy of Rs52.2 billion to Azad Jammu and Kashmir, Rs14.2 billion to the Federally Administered Tribal Areas (Fata), Rs31.4 billion to the industrial sector and was providing 650 megawatts of electricity to K-Electric