Aftab Ahmed Islamabad: Hascol gets a contract of importing 25000 metric tons of furnace oil for a supply to K-Electric. Hascol is an oil-importing company in the private sector that is importing furnace oil to meet the demand of KE. It is going to import 25000 metric tons of furnace oil on behalf of K-Electric….
PSO FY21 8,932,134 tons oil sales are highest since FY18 Aftab Ahmed Islamabad: Pakistan State Oil (PSO) oil company’s sales have crossed 858,161 tons during June 2021 that is the highest monthly sales in this fiscal year. PSO is a state-run oil marketing company that holds the major share of the market in Pakistan. PSO…
Aftab Ahmed Islamabad: Furnace oil sales jumped by 85 percent in June 2021 from May 2021 levels. The demand for black oil has significantly increased as the majority of gas fields are on maintenance and imported LNG is also in short supply due to Engro LNG dry docking and increased load shedding for industries due…
Islamabad: The government has Wednesday increased the prices of petrol by Rs 2 per liter and High-Speed Diesel by Rs 1.44 per liter for the first fortnightly of July. The government has also increased the prices of Kerosene Oil by Rs 3.86 per liter and Light Diesel Oil by Rs 3.72 per liter, said a…
The shipment is likely to enter Pakistan’s waters around first July Karachi: In light of the developing situation on fuel supply to the country, K-Electric has secured the supply of 25000 metric tonnes (MT) of furnace oil in Pakistan to ensure that all available generation capacity is maximized. K-Electric is a utility that operates in…
Aftab Ahmed Islamabad: Pakistan State Oil Company Limited has booked an exchange gain of Rs4.37 billion recently on payment of LNG imports and charged it to Sui Northern Gas Pipelines Limited as agreed in the contract. This 4.37 billion will be recognized as income in PSO this quarterly financial statements, a person familiar with the…
Aftab Ahmed Islamabad: Finance Minister Shaukat Tarin has conveyed to oil refineries that the imposition of a general sales tax (GST) on crude oil will continue for one year to meet the conditions of the International Monetary Fund (IMF). The chief executive officers (CEOs) of oil refineries met Finance Minister Shaukat Tarin on Tuesday to…
Aftab Ahmed Islamabad: Oil refineries- RRL, NRL, and ARL got a green light on Tuesday to avail ten-year tax holiday for up-gradation projects to achieve Euro-V specifications. Finance Minister Shaukat Tarin has okayed to remove the condition of 100,000 barrels deep conversion refinery to qualify for the incentives. Earlier, only Byco had qualified to avail…
Aftab Ahmed Shell Oil Company has again exceeded its sale target of high-speed diesel (HSD) and beats the country’s largest state-run marketing company Pakistan State Oil (PSO) during the first two weeks of the ongoing month of June 2021. However, the sale of PSO is also up by 22 percent during the period under review….
The Federal Board of Revenue (FBR) on Friday strongly opposed giving 10 percent protection to the oil refineries of Pakistan in budget 2021-22. In Finance Bill 2021-22, there is a proposal to imp0ose a 10 percent duty on petrol and high-speed diesel for an additional five years to enable the country’s refineries to manufacture Euro-IV….