petroleum products Archives

Petrol at 210? Here’s how you can reduce your petrol cost by 40%

The cost of driving is becoming increasingly expensive due to rising fuel prices. According to experts, prices could climb even higher as...

705

Khyber Pakhtunkhwa announces 35% cut in fuel quota for govt employees

Khyber Pakhtunkhwa Chief Minister Mahmood Khan made an announcement to decrease the 35 percent fuel quota for government employees in the province...

574

Pakistan raises fuel prices by Rs 60 in one week, protests hit petrol pumps

Protests have broken out at petrol pumps after the government increased fuel prices by Rs 60 in the second straight hike within...

715

Pakistan is giving discounted fuel that is costing $620 million a month

Pakistan is giving discounted fuel to its people that is costing $620 million a month and this is happening while country has...

486

ECC approves Rs 68.7 billion grant to provide petroleum products at subsidised rates

Economic Coordination Committee (ECC) has approved Rs 68.7 billion supplementary grant to pay for the cost of providing the petroleum products at...

630

Government to pull off subsidies on fuel prices and hike petrol by up to Rs 20

Miftah Ismail, the finance minister, agreed to the IMF’s recommendation to lower fuel and power subsidies and discontinue the business tax amnesty...

719

Pakistan’s petroleum and food imports surged to $21.87 billion in three quarters

Pakistan’s petroleum and food import bill increased by 59.98 percent to $21.87 billion during the July-March period against $13.67 billion in the...

714

Rs 20 billion proposed for paying price differential to Oil Marketing Companies

The Petroleum Division and Ministry of Energy has proposed Rs 20 billion initially as supplementary grant for payment of Price Differential Claim...

602

FBR’s robust revenue growth enabled government to subsidize petrol, electricity

Prime Minister Imran Khan on Wednesday said that robust revenue growth of 28.5 percent by the Federal Bureau of Revenue (FBR) had...

548

Oil soars back above $105 as Ukraine crisis sanctions intensify

Brent crude, the international oil benchmark, rose by as much 7% to trade as high as $105 per barrel as the Ukraine...

783

Latest prices of petroleum products in Pakistan

According to an official statement made by the Prime Minister’s office on Monday, Prime Minister Imran Khan disapproved the planned increase in...

902

Oil, food import bill jumps 73% to $15 billion in six months

Pakistan’s oil and food import bill surged 73 percent to $14.97 billion in the July-December period compared to $8.67 billion a year...

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Karachi to have new fuel jetty for better oil handling

The Ministry of Energy identified numerous limitations on Karachi ports, which has decreased its oil handling ability by half, charging billions of...

572

Prices of petroleum products reduced by upto Rs 7

The federal government decreased the price of petroleum products by up to Rs 7 per litre, effective December 16, 2021. On Wednesday,...

929

ECC okays one rupee increase in profit margins of OMCs, petroleum dealers

The Economic Coordination Committee (ECC) of the Cabinet approved revised margins of oil marketing companies (OMCs) and petroleum dealers on the motor...

849

Pakistan gets $761 million in funds from ITFC for petroleum imports

Pakistan has received $761.5 million in funding from the Islamic Development Bank’s International Islamic Trade Finance Corporation (ITFC) to purchase petroleum products...

822

Petrol hiked by Rs 8.03 and Diesel by Rs 8.14 to reach new historic high

Ministry of Finance announced the decision to hike petrol prices to new historic high in the wee hours of Friday and the...

608

OGRA recommended Rs 11.53 increase in petrol price rejected by PM Imran

Prime Minister Imran Khan has rejected the suggestion of the Oil and Gas Regulatory Authority (OGRA) to increase petrol price by another...

952

Brent crude oil will hit $90 per barrel by year end

Brent oil prices are likely to stay at higher levels and may hit $90 per barrel by end of this year, according...

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Petrol price crosses Rs 137 per litre after massive hike of Rs 10.49

The government on Saturday increased the price of petrol by Rs 10.49 per litre taking its price to Rs 137.79 per litre...

757

Petrol price crosses Rs 127 as govt announces new rates for October

According to a notification from the Finance Division, the government hiked the price of petrol by Rs 4 effective October 1 due...

611

Chinese firms to invest $15 billion in the petrochemical industry

Chinese companies have showed interest to invest $15 billion in Pakistan’s petrochemical industry, a venture that also includes the development of constructing...

632

Saving from CNG run-vehicles has dropped to only five percent

The saving by running vehicles on compressed natural gas (CNG) has dropped to only five percent while others say it is almost...

885

Diesel, petrol prices up by Rs 5 each for rest of September

The government raised petrol and diesel prices by Rs 5 per litre for the second half of the current month on Wednesday after a...

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Petrol Price in Pakistan reduced by Rs 1.50 per litre

The Finance Division stated on Tuesday that the price of petrol in Pakistan will be reduced by Rs 1.50 starting on Wednesday,...

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Govt allows $400 million exploration attempt in Abu Dhabi

The government has allowed a consortium of the country’s leading petroleum exploration and development (E&P) companies in the public sector to go...

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Pakistan new fuel prices for August 2021

Dr Shahbaz Gill, the Prime Minister’s Special Assistant on Political Affairs, stated on Friday that the fuel prices would be hiked by...

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Govt approves Rs 5.40 per litre increase in petrol price

Government has decided an increase in per litre price of petrol by a whopping Rs 5.40 which will have a multiplier effect,...

522

Exploration & Production activities to get CPEC like security cover

The government has decided to make China-Pakistan Economic Corridor (CPEC) style security system for the Exploration and Production (E&P) activities in Pakistan. For a long, the...

783

Petrol price goes up by Rs 2 per litre for July

The price of petrol have been increased by Rs 2 per litre and high speed diesel (HSD) price by Rs 1.44 per...

696

Pakistan to get $4.5 billion from ITFC to fund petroleum imports

Pakistan will get a funding of $4.5 billion from International Islamic Trade Finance Corporation (ITFC) in order to finance imports of petroleum...

795

FBR notifies lowering sales tax on some petroleum products

The Federal Board of Revenue (FBR) has announced a reduction in sales tax of some petroleum products to ensure supply at lower...

889

Price of petrol in Pakistan goes up by Rs 2.13 per litre

The Finance Ministry authorised a Rs 2.13/litre rise in petrol price and a Rs 1.79/litre rise in High-Speed Diesel on Tuesday. According to a government announcement,...

607

Petrol smuggling costing national exchequer Rs 240 billion loss annually

Pakistan bore an annual loss of Rs 240 billion due to the petrol smuggling, the Petroleum Commission has made a report public...

611

Petrol prices in Pakistan to remain same in March

Prime Minister Imran Khan has rejected a suggestion by the Oil and Gas Regulatory Authority to raise petrol prices in Pakistan, according...

730

Hike in prices of petroleum products challenged in LHC

On Monday, the Lahore High Court (LHC) filed a writ petition challenging the recent hike in the prices of petroleum products for...

683

To curb illegal fuel sale 1,083 petrol stations sealed across country

Authorities have sealed at least 1,083 petrol stations across the country after their owners were found involved in the illegal trade of...

868

Petrol price hiked by Rs 3.2, diesel by Rs 2.95 for rest of January

The government on Friday increased the prices of petrol, high speed diesel, light diesel oil and kerosene oil by 3 to 6...

770

PM Imran orders crackdown against fuel smuggling across Iran border

Prime Minister Imran Khan has ordered immediate strict action against 2,094 illegal petrol retail outlets involved in fuel smuggling in Punjab, Khyber...

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Pakistan increases petrol price by Rs 2.31 per litre from 1st January 2021

According to a press release issued by the Prime Minister House, the government has agreed to raise the price of petrol by...

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PSO introduces Euro 5 diesel after first cargo reached Karachi

Pakistan State Oil (PSO) has become the first Oil Marketing Company (OMC) to introduce low pollution Euro 5 diesel after the first...

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FIA inquiry into petrol shortage calls for disbanding OGRA

FIA led inquiry commission to probe into the shortage of petroleum products has recommended strict action against secretary Petroleum Division, DG Oil,...