Tag: petroleum division
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OGRA reduces LPG price to Rs234 per kg amidst cost-cutting measures by OGDCL
The Oil and Gas Regulatory Authority (OGRA) has announced a reduction in the price of Liquefied Petroleum Gas (LPG), providing relief to consumers who depend on LPG.
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IMF mission to arrive tomorrow for final review discussions on Pakistan’s SBA
The International Monetary Fund (IMF) mission is poised to commence vital economic review discussions from March 14 to 18, 2024, marking the conclusive evaluation of Pakistan’s Standby Arrangement (SBA).
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Petrol price in Pakistan slashed by Rs40 to Rs283.38 per litre
In a move to ease the burden on people dealing with rising prices, the temporary government has decided to lower the cost of petrol by Rs40 per liter and high-speed diesel (HSD) by Rs15 for the next two weeks.
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One rupee relief: Petroleum Division reveals ‘benefit’ of importing Russian crude
According to The News, the Petroleum Division highlighted that the projected benefit to consumers resulting from the import of Russian crude oil remains relatively modest, at approximately Re1 per litre for both petrol and diesel. This assessment takes into account various operational intricacies and market dynamics.
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Pakistan to receive first-ever shipment of low-cost oil from Russia in May
Minister of State for Petroleum, Musadik Malik, announced on Sunday that Pakistan will receive its first-ever shipment of low-cost oil from Russia next month, which is expected to benefit the general public.
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Pakistan’s Petroleum Division eyes discounted Russian crude oil amid high global prices
Petroleum Division is attempting to purchase Russian crude oil for approximately $50/barrel, which is at least $10/barrel below the price ceiling imposed by G7 countries on this valuable commodity originating from Russia because of its conflict with Ukraine. Presently, crude oil is being sold internationally for $82.78/barrel. Officials participating in the virtual negotiations with Russia…
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Forced stabilisation of oil prices causes oil industry to face over Rs7 billion in losses: OCAC
Maintaining oil prices for the second consecutive fortnight could harm the oil industry and disrupt petroleum products supply. The oil industry claims that it has suffered a loss of over Rs7 billion due to the government’s plan to keep oil prices artificially low. The nation’s oil industry protested against the government’s “manipulation” of the pricing…
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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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Pakistan aims to enhance Saudi oil facility to $3.6 billion
A spokesperson for the Petroleum Division said that Pakistan is in talks with Saudi Arabia to increase the size of an oil facility on deferred payments from its current $1.2 billion to $3.6 billion. According to The News, when former Prime Minister Imran Khan visited Riyadh in October of last year, Saudi Arabia made a…