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 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…
Muhammad Afzaal Islamabad: The government of PTI has increased taxes on petrol to 80 per cent in a bid to collect more revenue from the consumers. During time of PML-N, total taxes on petrol stood at Rs 21.44 per litre which accounted for 33.36 per cent. At present, government is charging Rs 30 per litre…
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…
Ibn-e-Ameer The Board of Directors of Cnergyico Pk Limited (formerly Byco Petroleum Pakistan Limited) has approved to acquire 57.37% stake in Puma Energy Pakistan Private Limited (‘Puma’). The company management announced in a notice sent to Stock Exchange. It said that in a meeting held on Thursday, (January 13, 2022) the board of directors had…
Aftab Ahmed Islamabad: Amid opposition of Petroleum Division and Oil and Gas Development Company Limited (OGDCL), the board of directors of Mari Petroleum approved Faheem Haider as managing director of the company. The Petroleum Division and OGDCL have objected direct hiring of the managing director of Mari Petroleum without following the interview process. Sources told…
Aftab Ahmed Islamabad: The Economic Coordination Committee (ECC) on Tuesday approved a fortnightly oil pricing mechanism based on Platts average. The sub-body of ECC recommended fortnightly price revision to better plan for oil stocks, fair competition in the oil industry, margins aligned with international pricing trends, and smoothing out volatility of prices due to linking…