Deadlock ends: Pakistan assures IMF to hike oil prices by Rs 4 per liter
IMF had also insisted to increase the prices of petroleum products from November 1, 2021.
IMF had also insisted to increase the prices of petroleum products from November 1, 2021.
Ibn-e-Ameer Islamabad: Amid conflicting figures of deemed duty, the government is moving towards conducting an audit of the deemed duty oil refineries have collected in Pakistan for their up-gradation projects. Oil refineries have pocketed billion on account of deemed duty in Pakistan for up-gradation projects. The cabinet committee on Transport and Logistics (CCoTL) has unanimously…
Aftab Ahmed Pakistan State Oil (PSO) has proposed that the government transfer its shares to Mari, OGDCL, and PPL under an equity swap arrangement. The proposed arrangement would help clear the circular debt of Rs 100 billion. In a letter sent to Asad Hayauddin, Secretary, Petroleum Ministry of Energy (Petroleum Division), PSO management said its…
Islamabad: The Oil & Gas Development Company Limited (OGDCL) — Pakistan’s largest state-run oil and gas explorer, has shifted its focus on optimizing oil and gas production to address the issue of the energy crisis in Pakistan. Though the past management has been facing controversies over high perks and luxury car imports, the current management…
Aftab Ahmed The Federal Cabinet has approved the appointment of Masood Nabi as Managing Director (MD) Government Holdings (Private) Ltd–GHPL Pakistan. Masood Nabi has vast experience in the E&P industry and government has appointed him now as MD GHPL Pakistan. Earlier, he has worked as Executive Director (ED) Oil and Gas Development Company Limited (Ogdcl)…
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…
Aftab Ahmed Pakistan Refinery Limited (PRL) on Tuesday announced to invest US$ 1.2 billion to undertake Refinery Expansion and Upgrade Project (REUP). In a notice sent to Stock Exchange, PRL management that it had decided to undertake Refinery Expansion and Upgrade Project (REUP). It had two objectives to achieve under expansion and upgradation…