Prices of petroleum products reduced
ISLAMABAD: Amid confusing statements by some cabinet members, the government on Friday announced a reduction in prices of petroleum products by up to 5.8 per cent for the month of…
Electricity generation surge 3.0 percent in July 2019
KARACHI: Pakistan’s overall electricity generation surged 3.0 percent to 14,231 Gwh in July 2019 as against 13,751 Gwh in the corresponding period last year, data released by the National Electric…
Korean company offers energy value chain for electric vehicles
ISLAMABAD: Songuo, a company of South Korea, which specializes in manufacturing batteries, has offered Pakistan for setting up charging infrastructure in Pakistan in the wake of ambitious EV policy by…
OGDC announces discovery of oil and gas
LONDON: The Oil and Gas Development Company (OGDC) Pakistan has notified that as per information received from MOL, the operator of TAL Block, hydrocarbons have been encountered in Development well…
Petroleum products sales decline 6pc in July
KARACHI: According to the latest numbers revealed by the OCAC, volumetric sales for both black and white oil declined during Jul’19 with overall OMC volumes clocking-in at 1.53mn tons as…
Attock Petroleum Limited records 30% decline in profits
KARACHI: Attock Petroleum Limited (APL) unveiled its FY19 financial results with profit after tax at PKR3.96 billion (EPS PKR39.79) versus PKR5.66 billion (EPS PKR56.83) recorded last year, down 30%YoY. Earnings…
Pakistan liquefied natural gas (LNG) imports surge 35pc to $3.33bn in FY19
KARACHI: Pakistan’s Liquefied natural gas (LNG) imports in fiscal year FY19 ended June 30, 2019, stood at $3.33 billion, up 35.96 percent as compared with LNG imports of 2.45 billion…
K-Electric refunds Rs1.2 billion to consumers
KARACHI: As per the National Electric Power Regulatory Authority’s (NEPRA) tariff terms and conditions notified by the Power Division, bank charges and meter rent have been adjusted retrospectively from July…
Pakistan’s gas demand to surpass indigenous supply by 4.6bcf by 2022-23
KARACHI: Pakistan is facing shortage of gas supply which will further increase in future, and the gap between the supply and demand is expected to increase to the tune of…
Thar coal mining and power projects declare Commercial Operations Date (COD)
KARACHI: Engro Powergen Thar (Private) Limited (EPTL) – a majority owned Company of Engro Energy – and Sindh Engro Coal Mining Company (SECMC) – a joint venture of Engro Energy…
Inefficiencies in electricity transmission and distribution sector cause loss of Rs123 billion: NEPRA
KARACHI: The National Electric Power Regulatory Authority (NEPRA) has noted with concern that during FY2017-18, distribution companies (DISCOs) contributed the loss of more than Rs45 billion on account of transmission…
Government and SSGC serious in controlling the menace of gas theft: Special Assistant to PM
KARACHI: Nadeem Babar, Special Assistant to the Prime Minister of Pakistan on Petroleum held wide ranging talks with the SSGC management on the menace of gas theft and the measures…
Hubco raises Rs7.0bn in one of the largest right issue at PSX
KARACHI: Hub Power Company Limited (HUBCO) has raised Rs7.0 billion in the country’s largest ever right issue at Pakistan Stock Exchange (PSX). The right issue is priced at Rs50/ share…
Pakistan finalizes policy amendments to attract foreign investors ahead of fresh exploration blocks auction
KARACHI: Pakistan government has finalized modifications in the Petroleum Policy to attract foreign companies, which would be affected in the next three to four months; and soon after that 35…
ECC approves amendment in PQA master plan to accommodate 3rd LNG terminal
KARACHI: The Economic Coordination Committee (ECC) of the Cabinet has approved the amendment in the Port Qasim Authority (PQA) master plan to accommodate the prospective 3rd LNG terminal proposed to…
Pakistan’s overall petroleum products sales decline 25pc in FY19
KARACHI: The economic slowdown and significant increase in petroleum prices due to rupee devaluation crumbled overall petroleum sales, which declined 25 percent for the year ended June 30, 2019. Excluding…
Government notifies gas price increase by up to 197.8%
ISLAMABAD: The government notified rise in gas price for domestic consumers by 16-197.8 percent with one slab benefit and 31 percent increase for industrial, commercial, power and CNG sectors. The…
10-paisa/unit increase in power tariff approved by Nepra
ISLAMABAD: National Electric Power Regulatory Authority (Nepra) on Wednesday approved an increase of 10 paisa per unit in tariff for consumers of Distribution Companies for May 2019 under monthly fuel…
Further hike in gas tariff to cripple CNG sector
KARACHI: The All Pakistan CNG Association (APCNGA) on Tuesday said budget proposal to increase the tariff of natural gas for the troubled CNG industry by 31 percent will bankrupt this…
Petroleum Division proposes 200% increase in gas prices for domestic consumers
ISLAMABAD: Petroleum Division has proposed an increase of up to 200 percent in the prices of gas for domestic consumers with effect from July 1, 2019. The summary prepared by…