Ibn-e-Ameer Oil and Gas Regulatory Authority (Ogra) is going to issue a unique ID to each oil retail station to maintain a check on stocks. It will help Ogra to keep an eye on oil stocks. This will help examine the stocks retail outlets would be maintaining during sales of petroleum products. …
Alan Duncan Chairman Hascol Petroleum Limited congratulates Prime Minister to reverse course on PDC Ibn-e-Ameer The crash in the stock price of Hascol Petroleum Limited (HPL) has wiped out Vitol’s $89 million investment. Vitol invested $89 million in Hascol Petroleum Limited (HSL) through rights issues. But a crash in stock price almost completely wiped…
Ibn-e-Ameer The government has burdened the oil industry in Pakistan with multibillion rupees by maintaining oil prices. This will put a negative financial impact on oil refineries and oil marketing companies. The government has recently announced to maintain current oil prices. Ogra had proposed to hike the prices of petrol by Rs 11.53…
Ibn-e-Ameer Pakistan has committed International Monetary Fund (IMF) to increase the oil prices by Rs 4 per liter to end the deadlock. The consumers will now face an increase in prices of petroleum products up to Rs 4 per liter effective from November 16. Pakistan and IMF had entered into a deadlock over…
The government has decided to build oil strategic reserves. The Cabinet Committee on energy has tasked Ogra to conduct a study to build strategic reserves of petroleum products. Cabinet Committee on Energy (CCoE) on Friday directed Oil and Gas Regulatory Authority (Ogra) to conduct a study in this regard. The Federal Minister for…
The government on Saturday increased the price of diesel by Rs 12.44 per liter effective from October 16. It also increased the price of petrol by Rs 10.49 per liter. The government has also increased the price of kerosene oil by Rs 10.95 per liter. It hiked the price of light diesel oil (LDO) by…
Ibn-e-Ameer Byco Petroleum has selected Axens to upgrade Project Phases I, II, III. The up-gradation is likely to complete I, II & III in Q2 2024. Axens will make advanced technical solutions available for Refinery to achieve Euro V gasoline and diesel specifications. The refinery is working to integrate three existing units into a Cracked…
Ibn-E-Ameer ‘However beautiful the strategy, you should occasionally look at the results’ said once by the great Winston Churchill, but sadly the results and outcome are occasionally missed out in our state. The dark looming clouds of uncertainty that circle the Capital City of Pakistan and the national and international forces behind them do not…
News Report Attock Petroleum Limited (APL) may be a major beneficiary of the rise in oil prices which is currently maintaining oil inventor levels for 30 days. The government had increased oil prices up to Rs 5 per liter effective from September 16, 2021. APL maintained an average oil inventory level for 20 days in…
Aftab Ahmed The sale of furnace oil is likely to gain momentum following a record increase in prices of LNG across the world. Pakistan has two LNG terminals and imports LNG from Qatar and some other suppliers including spot purchases. During the last several months, Pakistan had also received LNG cargoes at record higher prices…