oil & gas sector

Pakistan Refinery Limited says OMCs are importing, not lifting locally produced oil products

High interest rates and heavy currency devaluation has already taken its toll.

Currency loses Rs2.34 to close at Rs156.58 in inter-bank market

At present, the regulator permits SNGPL, SSGC to cover 6.3% losses

Lower oil prices can help decelerate inflation, curtail import bill and cut interest rates

Investors adopted 'dump-and-run' strategy, taking cue from slumping global markets

Kingdom of Saudi Arabia sets plan for a big increase in crude production in April

PTI govt working on options to reduce prices of gas, petroleum products

A domestic cylinder of LPG is being sold for Rs500 and a commercial one for Rs2,000

Petroleum Division calls for stopping process due to fall in company’s share price

Cancelling the contracts with Eni and Gunvor may cost Pakistan LNG nearly $300 million in penalties

The Cabinet has frozen the gas and electricity tariff.

Medics treating ‘toxic’ patients also get affected

Govt decides to reduce taxes on food items

It will determine prices and promote competition among many players

Puts off proceedings on request of CPPA-G that is working on new cost mechanism

Babar says 18 blocks will be offered in first phase of auction

ECC also approves establishing Digital Media Wing in the Ministry of Information and Broadcasting

Power Division says running RLNG power plants on 66% must-run scenario has become uneconomical

There is no legislation in Pakistan for waste management of such products

Suggests increase of Rs2.47 per litre in price of diesel

Ministry of Petroleum says principal amount stands at Rs457b, while delayed payments add another Rs77b

Reduction will lead to Rs360-400/bag decline in urea prices

PC approves hiring of financial advisers to sell stakes of two blue-chip firms

Both main oil contracts tumble more than 2%

GIDC applicable to fertiliser producers was cut by Rs400 per bag

Board declares interim cash dividend of Rs20 per share for half year

National Refinery, Attock Refinery report losses for Jul-Dec 2019

It remains unclear what is the export destination

Also discusses regularisation of engineers working in Balochistan’s gas fields

SNGPL will receive $10.4822 per mmbtu, SSGC will get $10.4602

Sindh Minister of Energy Imtiaz Ahmed Sheikh says current gas crisis due to incompetence of the federal government

Minister blames Sindh for gas crisis; Rs119.5m spent on PM’s 22 foreign visits, house told

Pakistan’s limited petroleum reserves can pose potential risk if tensions escalate

Federal subsidies may lower weighted average cost of gas for producer provinces

Board chairman accused of spending millions on meetings, travel expenses

Formula includes costs of local and imported gas that will help overcome shortage

SNGPL official urges people not to use suction pumps 

Under IMF programme, government sharply increases power and gas tariffs

Under Article 158, gas-producing provinces have first right of use over natural resource found in their jurisdictions

SNGPL told to take urgent steps to address problem

Industries and commerce minister offers Sindh govt's support, lambasts Centre's policies

E&P companies encouraged to find hydrocarbon reserves in high-risk areas

Makes discoveries in wells located in Sindh, Balochistan

Industry says cost of urea production will rise after gas price hike

SAPM Firdous says false claims were being made regarding hike in gas prices

Significant surge in gas demand came from Balochistan

ECC likely to give nod to a consortium that will bid for UAE offshore block

Islamabad, Moscow discuss joint projects for developing oil, gas fields