As per details, the petroleum levy on petrol has been increased by Rs 8.02 per liter, bringing the total levy on petrol to Rs 78.02 per liter. The levy on high-speed diesel has been raised by Rs 7.01 per liter, taking it to Rs 77.01 per liter. For kerosene oil, the petroleum levy has been […]
According to Mari Petroleum, the company is the lead operator in the Waziristan Block, holding a 55% stake. The discovery is expected to boost the country’s hydrocarbon resources. The newly drilled Spinam-1 well is set to produce 12.96 million cubic feet of gas per day along with 20 barrels of condensate daily. Drilling at the […]
In a letter to Minister for Petroleum Musadik Malik, the association expressed concerns that deregulation would lead to an increase in the sale of smuggled Iranian oil and non-standard fuel in the country. The association argued that deregulation would compromise the investments made by petroleum dealers, who have invested billions in the sector. They emphasized […]
During his address at the Global Oil and Gas Conference, Petroleum Minister Dr. Musadik Malik announced the government’s decision to introduce a deregulation policy in the petroleum sector. Musadik Malik stated that the current government is moving forward with a policy of deregulation, encouraging oil companies to compete by offering cheaper petrol to capture market […]
The collection was made on petrol and high-speed diesel, with the government currently charging Rs60 per litre on petrol and diesel, the sources added. The breakdown of the collection showed that Rs246 billion was collected during the first quarter (January-March), followed by Rs299 billion in the second quarter (April-June) and Rs261 billion in the third […]
Petroleum prices likely to decrease by up to Rs11 per litre from the next fortnight The petrol price may drop by Rs5.50 per litre, while high-speed diesel (HSD) could see a reduction of up to Rs11 per litre. Kerosene is expected to become cheaper by Rs5.84 per litre, and light diesel oil may decrease by […]
In 2023, the Board of Directors of Shell Pakistan Limited (SPL) held a meeting with its parent firm Shell Petroleum Company Limited (SPCo) where it was announced their intent to sell its shareholding in SPL. The shares were acquired by the Saudi group through Wafi Energy Holding Limited, a United Arab Emirates (UAE) based firm. […]
The notification stated that the gas price for captive power plants has been increased by Rs 250 per MMBtu, setting the new rate at Rs 3,000 per MMBtu with immediate effect. According to OGRA, gas prices for sectors such as fertilizer factories, ice factories, and the cement industry will remain stable. ECC approves hike in […]
Chairing a meeting on ease of business, the prime minister directed the relevant authorities to establish a one-window operation to simplify documentary procedures for companies and traders. He also directed to seek assistance from Chinese experts to establish an experimental facility service center modeled after the Shenzhen One-Stop Shop. Regarding ease of doing business and […]
As demand for petroleum products spiked to a nine-month high at 1.4 million tons in May 2024 in the wake of a reduction in prices, total consumption reached 13.8 million tons in July-May 2023-24, according to Topline Research. Topline Research analyst Myesha Sohail reported that tax collection through PDL touched Rs907 billion in 11 months […]
