KARACHI: Pakistan’s oil sales fell 21 per cent YoY to clocked-in at 1.21 million tonnes in February 23 against 1.54 million tonnes in the same period of the last year, a statement said on Thursday. The decline in the oil sales is mainly attributable to higher petroleum product prices, a slowdown in the economic activities, … Read more
KARACHI: Pakistan’s oil products sales fell 20 per cent to clock-in at 1.44 million tonnes in January 2023 against 1.8 million tonnes in the same period of the last year, official data suggests on Thursday. “The decline in the oil sales is mainly attributable to a slowdown in the economic activity, coupled with higher prices,” … Read more
KARACHI: Fed-up with the continual liquefied natural gas (LNG) suppliers’ default under one pretext or the other, Pakistan is considering to claim damages from the Italy-based ENI and Swiss Gunvor for their failure to meet their contractual obligations, depriving the country of essential fuel supplies. This would be in addition to the 30 per cent … Read more
KARACHI: The profits of Pakistan State Oil (PSO) registered the earnings growth of 4.6x to Rs20.3 billion, translating into the earnings per share of Rs43.27 during the second quarter of the fiscal year 2022 ended in December 2021. The company’s profits were recorded at Rs4.03 billion translating into the earnings per share (EPS) of Rs8.85 … Read more
KARACHI: The total petroleum and lubricant sales clocked-in at 1.51million tonnes in December 2021, depicting a decline of 6 per cent on a year-on-year basis, a research report by Arif Habib Limited showed. The decline in sales volume is attributable to lower Furnace Oil (FO) requirement amid slowdown in FO based power generation, as the … Read more
KARACHI: The board of directors of Pakistan Refinery Limited (PRL) has decided to undertake refinery expansion and upgrade project (REUP), a bourse filing said on Tuesday. The objectives of the project is to produce Euro V compliant high-speed diesel (HSD) and motor spirit (MS/petrol) to comply with the requirements, and the expansion of crude processing … Read more
KARACHI: The fuel cost component of the power generation during November 2021 surged 85 per cent YoY to Rs6.32/kWh, mainly due to a rise in the furnace oil, coal and regasified liquefied natural gas (RLNG)-based cost of generation, official data suggests. “[The] RLNG-based cost of generation increased 166 per cent YoY to Rs17.29/kWh due to … Read more
KARACHI: The country’s overall electric power generation during FY21 surged 6.9 per cent to 130,223GWh (14,866MW), compared with 121,867GWh (13,912MW) during FY20, official data suggests. Hydel remained the major contributor in the overall generation with 30 per cent share; followed re-gasified liquefied natural gas (RLNG), 21 per cent; coal-based generation, 21 per cent; gas-based generation, … Read more
Pakistan Muslim League-Nawaz (PML-N) leader and former finance minister Miftah Ismail on Sunday lashed out at Prime Minister Imran Khan’s government for the emerging energy crisis in the country and delays in the dry docking of liquefied natural gas (LNG) terminals, resulting in gas and electricity shortages. In a press conference, Ismail raised the question … Read more
K Electric has announced an increase in load shedding, after which power went out across Karachi. According to the details, K Electric has announced to increase load shedding on the excuse of shortage of fuel oil. With the announcement of K-Electric, power was also cut off in the areas except load shedding in the city. … Read more
