Pakistan is set to offer stakes to Saudi Arabia in the oil terminal being set by state state-owned oil marketing company Pakistan State Oil (PSO). PSO plans to set up an oil terminal in Hub Balochistan at a cost of around $300 million. Saudi Arabia is scheduled to visit Pakistan during the first week of…
The minister for the power division, Awais Leghari, said on Friday that circular debt would be completely ended within the next six years. Meanwhile , he further said that consumers will have to pay Rs 3.23 per unit to retire debt in the next five to six years. While addressing a press conference, he said…
Mari Energies Limited (MARI) announced at its 41st Annual General Meeting to achieve its highest-ever production level of 39.13 million barrels of oil equivalent (MMBOE) in fiscal year 2025. It marks a major milestone in the company’s operational history. Mari Energies (MARI) held its 41st Annual General Meeting following the release of FY25 results. The…
Pioneer Cement Limited (PIOC) has reported a 16 percent year-on-year drop in its fourth-quarter fiscal year 2025 (4QFY25) earnings. It posted a profit of Rs1.1 billion, or earnings per share (EPS) of Rs4.97, compared to Rs1.3 billion (EPS Rs5.90) in the same period last year. Pioneer Cement Limited (PIOC) announced its 4QFY25 results on Friday,…
Pakistan’s oil production jumped to 64,313 barrels per day (bpd) while gas output rose to 2,812 million cubic feet per day (mmcfd) in the week ending September 23. It reflects a notable increase in domestic energy supplies. Industry data compiled by Arif Habib Limited (AHL) from the Petroleum Planning and Infrastructure System (PPIS) showed oil…
Petroleum Minister Ali Pervaiz Malik has decided to take up the matter with the International Monetary Fund (IMF) to resolve the issue of general sales tax (GST) withdrawal for refineries. The exemption of GST in the refining sector has caused a loss of Rs 40 billion during the last financial year. The GST exemption issue…
Rawalpindi: Wafi Energy, a Shell licensee in Pakistan, inaugurated on Thursday the country’s second retail station constructed using recycled plastic. The new retail site is situated in Police Lines, Rawalpindi. It has been built using 7,700 kilograms of plastic waste. This is equivalent to more than 5.8 million pieces of end-of-life plastics, infused into construction…
Federal Minister for Petroleum, Mr. Ali Pervaiz Malik, hosted a dinner in Islamabad in the honor of Board of Directors of Pak-Arab Refinery Limited (PARCO). The gathering reflected the government’s commitment to fostering collaboration with the energy sector and advancing Pakistan’s refining and petroleum industry. The event, held to welcome the foreign board members from…
Sui Northern Gas Pipelines Limited (SNGPL) has begun accepting applications for domestic gas connections, but only under the Re-Gasified Liquefied Natural Gas (RLNG) tariff framework. The company announced that priority will be extended to applicants who earlier paid urgent fees or demand notices before the official ban on connections. Such applicants can obtain RLNG supply…
The Oil and Gas Development Company (OGDC) has said that curtailment of gas due to surplus LNG has resulted in an accumulated loss of Rs 43 billion during the financial year 2025. In a corporate briefing, OGDCL management noted that gas curtailment from SNGPL driven by excess RLNG has resulted in an estimated revenue loss…