Audit starts probe against OGDCL

    By NewzTodays Editorial Team | July 16, 2020

    Aftab Ahmed Islamabad: Director General (DG) audit on petroleum has started a probe against managing director Oil and Gas Development Company Limited–OGDCL–for acquiring idle land in Balochistan at hefty rates. According to media reports, Oil and Gas Development Company Ltd (OGDCL) Managing Director Shahid Saleem had approved to pay a hefty amount to Nawabzada Shazain…

    Delay in offloading RLNG ship: PSO pays hefty amount of $700,000 demurrages

    By NewzTodays Editorial Team | July 7, 2020

    Aftab Ahmed Islamabad: LNG is a sweet business for LNG terminals operators, operators, power plants and even shipping companies when it comes to making money on account of capacity payments and demurrages. The consumers are on losing end. It was PSO at fault that it failed to offload the ship of RLNG that resulted in…

    From Perks to Production: OGDCL Management Shifts Priorities

    By NewzTodays Editorial Team | September 16, 2025

    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…

    Top Oil Stocks: PSO to gain after hit in June

    By NewzTodays Editorial Team | June 30, 2020

    Aftab Ahmed The state-run oil marketing company Pakistan State Oil (PSO) stands at the top among other oil marketing companies (OMCs) with the highest inventory of petrol and high-speed diesel (HSD) to make gains in July following a hefty hike in prices of petroleum products. The PSO was holding an oil stock of 42097 metric…

    OGRA fines Rs 15 million to OMCs

    By NewzTodays Editorial Team | June 29, 2020

    Aftab Ahmed Islamabad: Oil and Gas Regulatory Authority (Ogra) imposed a fine of Rs 5 million each on three OMCs for being responsible in petrol crisis in the current month of June 2020, said a spokesman of the OGRA. Three OMCs fined include BYCO, ASKAR and BE Energy were fined Rs five million each, said…

    PTI Govt increases taxes on petrol to 80% against 33% in PML-N regime

    By NewzTodays Editorial Team | June 27, 2020

    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…

    Attock, Shell, Hascol, Total Parco major beneficiaries of overnight hike in petrol price

    By NewzTodays Editorial Team | June 27, 2020

    Aftab Ahmed Islamabad: The government’s move of overnight hefty increase in prices of petrol is going to benefit those oil marketing companies (OMCs) involved in hoarding stocks and fined by the regulator. These companies include Total Parco, Attock Petroleum, Hascol and Shell. The regulator oil and gas regulatory authority (Ogra) has already imposed a fine…

    CEO Hascol obtains bail, two escape detention

    By NewzTodays Editorial Team | June 17, 2020

    Aftab Ahmed Chief Executive Officer (CEO) Hascol Petroleum Limited (HPL) gets bail from court and two officials of the company flee to escape from detention in oil hoarding and black marketing case. Sources told Newztodays.com that FIR was registered against CEO Hascol Petroleum Limited on the recommendation of the committee formed to probe into oil…

    Refineries claim Rs 47 billion losses

    By NewzTodays Editorial Team | June 13, 2020

    Aftab Ahmed Islamabad: With claims of Rs 47 billion losses, refineries want the government to revise downstream petroleum policy, bailout package, and fortnightly pricing to avoid the severity of shortages of petroleum products in the future. The total inventory losses of the refining sector in Pakistan due to COVID 19 in March & April 2020…

    OGRA imposes Rs 40 million fine on OMCs

    By NewzTodays Editorial Team | June 11, 2020

    Aftab Ahmed Islamabad: The Oil and Gas Regulatory Authority (OGRA) on Thursday imposed a Rs 40 million fine on leading oil marketing companies including foreign firm Shell for hoarding petroleum products that led to the petrol crisis across the country. In addition to fines, a case has been registered against three Oil Marketing Companies including…