Tag: PSO
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Profit plunge: Pakistan Refinery Limited records Rs1.24 billion loss
Pakistan Refinery Limited (PRL), a subsidiary of Pakistan State Oil Company Limited (PSO), faced a significant loss of Rs1.24 billion in the third quarter ending March 31, 2024, primarily due to reduced revenue and escalating costs.
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Tariff hike of Rs1.72 per unit approved for K-Electric consumers
The Economic Coordination Committee (ECC) has granted approval for quarterly tariff adjustments of Rs1.72 per unit for K-Electric, alongside government guarantees of Rs100 billion for Pakistan State Oil (PSO) and a Rs20 billion credit facility for Punjab’s Green Cooperative Initiative.
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Why was Shahid Khaqan Abbasi barred from flying abroad?
Former Pakistani Prime Minister Shahid Khaqan Abbasi faced a brief hiccup on Friday when he was initially stopped from flying abroad due to his name being on the no-fly list, as per Shahzad Ali of Samaa. However, after clarification, he was allowed to proceed with his travel plans to China. Mr. Abbasi and his wife…
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Petrol price increased to historic high of Rs305.36 per litre
Check out the latest petrol and diesel prices effective from September 1st, 2023.
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Pakistan moves closer to finalising oil deal with Russia as team arrives in Karachi
Pakistan has taken a step forward in its efforts to secure a loan deal with Russia, as a delegation has arrived in Karachi to finalise a crude oil deal with Pakistan State Oil (PSO). However, the Energy Ministry has not yet revealed the payment method or the discount rate for the crude oil prices, keeping…
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National Refinery halts fuel supply to Pakistan State Oil over unpaid dues
The National Refinery Limited (NRL) has decided to suspend the supply of fuel to Pakistan State Oil (PSO) due to the state-owned oil marketing company’s failure to make payments to the refinery. PSO has encountered a severe financial crisis, leading to outstanding payments owed to various sectors as a result of the supply of petroleum…
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PSO reportedly planning to buy Telenor to expand its business beyond oil
Pakistan State Oil (PSO) is reportedly conducting due diligence on the Pakistani operations of a Norwegian telecommunications operator, in response to Telenor’s plans to sell its Pakistani operations valued at around $1 billion. Pending regulatory approval, PSO has expressed interest in acquiring Telenor Pakistan and Easypaisa, following the completion of bidding documentation and due diligence.…
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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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Petrol price may go down by Rs9.63 per litre for the next fortnight
The price of petrol is expected to decrease by Rs9.63 per litre for the next two weeks, while diesel prices are anticipated to increase. According to reports, the Oil and Gas Regulatory Authority (OGRA) has advised lowering gasoline prices for the final fifteen days of the current month, September. However, a final decision about increased…
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Govt raises petrol price by Rs2.07 to Rs235.98 per litre
The price of petrol was raised by the government on Wednesday by Rs2.07 per litre, making it Rs235.98 for the upcoming two weeks. Additionally, it announced a hike in the costs of kerosene oil by Rs9.79 per litre to Rs201.54, high-speed diesel by Rs2.99 per litre to Rs247.43, and light diesel oil by Rs10.92 per…