Oil prices stable but increasing US supply looms
Brent crude futures, the international benchmark for oil prices, were at $77.24 per barrel at 0317 GMT, a notch below their last close
Caretaker PM directs petroleum ministry to develop strategy for meeting rising energy demand
As local gas production dwindles, LNG requirement which presently is recorded at 1,000 million metric cubic per day (mmcfd) is forecast to touch 3,600 mmcfd by 2030
Pakistan, Russia ink MoU to conduct feasibility study for undersea gas pipeline
The FO spokesman said both the countries had finalized several proposals in the energy sector which included laying of the North-South Gas Pipeline, LNG import from Russia, installation of air-mix plant and setting up a 600MW combined cycled power plant
Prices of petroleum products to remain unchanged
GST on petrol has been decreased to 7 percent from the previous 17 percent. The tax regular has also decreased the GST rate on kerosene from 12 percent to 7 percent
Oil and gas reserves to end after 10 years, reveals petroleum division
ISLAMABAD: Senate Standing Committee on Petroleum was informed on Thursday that the country’s existing oil reserves will see an end only after 10 years...
After 46 hours Lahore still faces power outage
Some areas of Lahore have been without power for over 46 hours, meanwhile, other parts of Lahore suffer 10 to 12-hour long load-shedding
Oil prices rise, as exports plunge from Venezuela
U.S. crude oil production hit another record last week at 10.8 million barrels per day (bpd). That’s a 28 percent gain in two years, or an average 2.3 percent growth rate per month since mid-2016
Govt should take steps to control surge in power outages, demands ICCI
ISLAMABAD: Islamabad Chamber of Commerce and Industry (ICCI) Acting President, Muhammad Naveed Malik has called upon the government to take urgent measures...
PSO barely surviving backlog of Rs304b
LAHORE: The outstanding receivables position of Pakistan State Oil (PSO) remains at a historic high at Rs304 billion despite receiving Rs50 billion...
Lame duck PML-N govt blocks building third LNG terminal
With competition nipped in the bud, the consumers shall pay the tab
ISLAMABAD:Â The lame duck PML-N government, whose tenure ended on May 31,...
Pakistan LNG imports climb 30 percent YoY in May 2018
-Also, Pakistan’s LNG imports soared by nearly 80 percent on a year-on-year basis (YoY) in April 2018, the second-highest amount ever recorded for a single month
-Balloki power plant passed its combined-cycle run on Monday
Oil prices rebound on expected stockpile drop
OPEC is due to meet in Vienna on June 22 to decide whether the group and non-OPEC members, including Russia, will raise production to ease concerns over potential supply shortfalls from Iran and Venezuela
OGDC, Kufpec to work jointly on global upstream exploration
As per the MoU, Kufpec may give an opportunity to OGDC to participate in joint venture opportunities in its international assets and blocks
Fuel sales climb 31 percent in May
In the first eleven months of FY 2018-18, HSD sales rose 7 percent, touching 8.407 million tons
Ogra launches new tariff regime for SSGC, SNGPL
The new revised tariffs regime would see the fixed rate used to determine the rate of return on assets and profitability be changed with a weighted average cost of capital (WACC)