Tag: Hi octane
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Pakistan has sufficient petrol and diesel to meet domestic demand: Petroleum Division
The Petroleum Division said on Tuesday that the country has sufficient petrol and High-Speed Diesel (HSD) in stock to meet domestic demand after allowing Oil Marketing Companies (OMCs) to recover Rs10 per litre on HSD for the next two months (November-December 2022) by raising the premium limit to $15 per barrel. The OCAC had cautioned…
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Shell Pakistan posts after-tax profit of Rs7.4 billion in first half of 2022
The results for the first half of the year are announced by Shell Pakistan Limited’s (SPL) Board of Directors. In comparison to the profit of Rs2,153 million recorded during the same period last year, the company reported an after-tax profit of Rs7,469 million in 2022. The significant rebound is a result of increased company performance…
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Oil sales fell by 11 per cent as prices rose to highest levels
In June 2022, overall sales of petroleum and lubricants were 1.93 million tonnes, down 11 per cent from the previous month but unchanged from the previous year. Petrol and high-speed diesel (HSD) sales both experienced significant monthly declines, falling by 12 and 16 per cent, respectively. Sales of all oil products rose by 16 per…
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PM Shehbaz rejects OGRA’s proposal, petrol price to remain unchanged till April 30
Pakistan’s new Prime Minister (PM) Shehbaz Sharif on Friday dismissed the proposal from the Oil and Gas Regulatory Authority (OGRA) to raise the price of petroleum products for the fortnight. The recent decision is aimed at providing relief to the public affected by inflation. It is worth noting that the present government’s choice to maintain the…
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International oil prices declined by 4%, crashing below $100 per barrel
Brent crude slid below $100 for the first time since March 16 amid plans to release huge amounts of petroleum and oil products from strategic storage, and also China’s prolonged coronavirus closure. Crude oil was down $4.1, or 3.99 per cent, at $98.68 per barrel. The price of US West Texas Intermediate (WTI) crude fell…