Petroleum product import falls 5% to $1.26b
KARACHI: Pakistan’s import of petroleum products, which is the largest contributor to its total import bill, has decreased by 5% to $1.26 billion in February compared to the previous month…
Averting potential petroleum product crisis
KARACHI: Pakistan’s financial situation remains precarious, but the decrease in demand for petroleum products has reduced import needs, providing some relief for the financially constrained government. However, the oil industry…
Petroleum product prices may see reduction
ISLAMABAD: The price of petrol is likely to go down around Rs7.50 per litre, while the price of High-Speed Diesel (HSD) may be reduced by Rs12.37 per litre for the…
Petroleum prices may be reduced by up to Rs30
ISLAMABAD: As global oil prices fall, petroleum product prices in Pakistan may also be reduced by up to Rs30, Petroleum Division sources revealed on Friday. According to the sources, petrol is currently being purchased…
Cabinet approves restoration of 11 cancelled petroleum licences
ISLAMABAD: The federal cabinet has approved the restoration of 11 cancelled petroleum exploration licences on the recommendation of the Petroleum Division. The cabinet met under the chairmanship of Premier Shehbaz…
Russia offers oil at discounted rate
ISLAMABAD: Russia has confirmed the availability of 100,000 barrels per day crude oil supply to Pakistan and a delegation from Moscow would visit Islamabad in January to set terms of…
Russia to provide fuel to Pakistan at discounted rates
ISLAMABAD: State Minister for Petroleum Musadik Malik revealed on Monday that Russia has decided to provide crude oil, petrol, and diesel to Pakistan at discounted rates. Earlier this month, Finance…
Petroleum levy on diesel likely to be increased
ISLAMABAD: Consumers of diesel are not likely to see any relief from the government as it may decide to increase the rate of the petroleum levy (PL) from December 1,…
Govt not imposing GST on petroleum products: Musadik
ISLAMABAD: Minister of State for Petroleum Musadik Malik on Friday maintained that the government was not imposing general sales tax (GST) on petroleum products, clarifying that only levy was being…
Demand for petroleum products drops by 16.5%
KARACHI: Despite a 9% increase on a month-on-month basis, the overall demand for petroleum products in Pakistan has remained sluggish at 1.66 million tonnes amid an economic slowdown in the…