Tag: OMC
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Pakistan has ample fuel stocks available: PSO denies reports of petrol, diesel shortage
Pakistan State Oil (PSO) on Friday denied all the rumours about the shortage of fuel reserves and said that there is ample stock of petroleum products in the country. The Ministry of Energy and Oil & Gas Regulatory Authority (OGRA), according to the PSO spokesman, is keeping an eye on the general situation regarding product…
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Reduction in POL prices without IMF approval is a ‘reckless’ decision, says Miftah Ismail
Pakistan’s former finance minister Miftah Ismail has called the coalition government’s decision to maintain the petroleum development levy (PDL) this month unchanged “reckless”. However, he maintained that what the earlier PTI administration did to the nation was “unforgivable.” Shaukat Tarin, the leader of the PTI and a former finance minister, had tweeted about the PMLN’s…
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OCAC warns of petrol supply shortages due to roadblocks
Oil Companies Advisory Council (OCAC) said that oil marketing companies are supplying fuel to retailers but the deliveries are being slowed owing to road blockages in Punjab’s major cities, which could affect deliveries to filling stations. It warned provincial authorities in Punjab that the road blockades have severed connectivity between major cities and neighboring areas,…
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Global oil prices climb to highest in three weeks
Oil prices increased on Monday as fears of limited global supply intensified, with the developing crisis in Ukraine raising the risk of more penalties from the West against Russia, the world’s leading exporter. Brent futures were up $1.50, or 1.3 per cent, at $113.20 a barrel, while US West Texas Intermediate futures were up 98…
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Petroleum sales increase by 23% in March, despite hefty oil prices
Petroleum product sales rebounded in the last month after a dismal February with Oil marketing companies (OMC) witnessing an increase of 23 per cent in sales of petroleum products on a year-over-year (YoY) basis in March 2022. Overall petroleum sales in March 2022, increased to 1.82 million tonnes compared to 1.54 million tonnes in March 2021,…
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Petrol, Diesel prices to remain unchanged till April 15
The government has decided to maintain the existing prices for petroleum products for the fortnight. Petroleum prices will remain unchanged from April 1 to April 15, as per a statement released by the finance division. Petrol is currently priced at Rs149.86 per liter, while diesel, kerosene oil, and light diesel are priced at Rs144.15, Rs125.56,…