The government on Monday announced a significant reduction in the price of diesel by Rs 30 per liter, effective from May 16, 2016. The government has decreased the price of high-speed diesel (HSD) by Rs 30 per liter, while the prices of other petroleum products, including petrol, kerosene oil, and light diesel oil, have been…
Ibn-e-Ameer Pakistani oil refineries produce furnace oil in Pakistan. However, when its demand goes up to meet the country’s needs, Pakistan State Oil (PSO) imports it. After LNG imports, its demand has been low due especially the use of LNG in the power sector. Pakistani refineries like Byco and Parco have been exporting it now…
Ibn-e-Ameer The government has approved Rs 24 billion supplementary grant to give targeted subsidies to the oil consumers amid high oil prices. The prices crossed Rs 200 per litre on Thursday following a fresh hike in the prices of petroleum products. Ministry of Poverty Alleviation & Social Safety informed that the rising trend of petroleum…
ARL earns Rs 2.8 billion profit during the quarter ending on March 31, 2022 PRL makes a profit of Rs5.5 billion, a new high for the firm during the quarter ending March 3, 2022. Due to higher gross refinery margins, Pakistan Refinery Limited (PRL) made a record profit of Rs 5.5 billion on March 31,…
Ibn-e-Ameer The government has transferred Rs. 20 billion to Pakistan State Oil (PSO) assignment account to clear price differential claims (PDC). The government will pay another Rs 11 billion during the ongoing week. The PTI government had announced to keep oil prices unchanged which led to piling up price differential claims. …
PRL has made the highest ever sale of diesel in March Ibn-e-Ameer Oil refineries have made a record sale of petroleum products during March 2022. The Pakistan Refinery Limited (PRL) has also made a record sale of diesel. Its actual production stood at 65177 metric tons whereas its total sale was 71187 metric tons. PRL…
Ibn-e-Ameer Pakistan State Oil (PSO)’ sale of diesel has seen an increase of up to 8% in March 2022. However, some other oil companies have witnessed a decline. But PSO saw a major increase in the sale of diesel during March. PSO is a state-run oil marketing company that is facing a liquidity crunch due…
Ibn-e-Ameer Islamabad: Economic Coordination Committee (ECC) on Friday approved Rs 25 billion grant for Pakistan State Oil (PSO) to address its financial constraints in wake of higher oil prices in the global market. The management of Pakistan State Oil (PSO) has already broken all its previous records of circular debt which crossed the Rs 500…
The government said on Thursday that it would bear additional Rs 33 billion to keep oil prices unchanged for the next fortnight from April 2022. Amid political turmoil, Prime Minister Imran Khan had announced to keep oil prices unchanged till the next budget 2022-23. In a statement, Finance Ministry said that as per the decision…
Ibn-e-Ameer Economic Coordination Committee (ECC) on Friday approved revision in premium on diesel and petrol imports amid higher global oil prices. Amid political tensions and the Russian Ukraine war that led to higher oil prices, the economic coordination committee (ECC) took up the summary of revising premium upwards on the import of high-speed diesel…