Tue, 21-Oct-2025

PSO partners with D&B to enhance supply chain operations

PSO

KARACHI: Pakistan State Oil Company Limited (PSO) has entered into a partnership with Dun & Bradstreet Pakistan (D&B) to enhance its supplier risk management capabilities. This collaboration will enable the state-owned petroleum company to leverage D&B’s expertise for making data-driven and informed decisions regarding its suppliers. PSO will utilize D&B Risk Analytics to gain comprehensive … Read more

PSO financial crisis worsens, unpaid bills hit Rs. 800 Billion

PSO's financial crisis worsens, unpaid bills hit Rs. 800 Billion

Pakistan State Oil (PSO) grapples with a severe financial crisis as its total receivables balloon to Rs. 800 billion, according to ARY News. The financial crisis has significantly impacted the company’s profitability, with the largest share of receivables owed by Sui Northern Gas Pipelines Limited (SNGPL). Sources indicate that Sui Northern Gas Pipelines Limited (SNGPL) … Read more

EPI Sindh introduces fuel card for vaccinators

EPI Sindh

KARACHI: Sindh’s Expanded Programme on Immunization (EPI) has introduced PSO fuel cards for vaccinators, making Sindh the first province in Pakistan to empower its frontline workers with this innovative support mechanism.

The initiative was inaugurated today at the EPI Directorate, with Dr Azra Fazal Pechuho Minister of Health and Population Welfare, Sindh, and Rehan Iqbal Baloch, Secretary of Health, in attendance.

Speaking at the event, Dr Azra Fazal Pechuho emphasized the government’s commitment to empowering frontline workers to ensure that they can independently and efficiently carry out immunization activities across the province. She stated, “We want our frontline workers to be independent and empowered, enabling them to easily move into the field and conduct immunization activities.

The PSO card is one such initiative that is crucial to making our immunization services more effective. All vaccinators will receive these cards, which will provide them with monthly fuel to support their outreach services.”

Rehan Iqbal Baloch, Secretary of Health, reiterated the Sindh Government’s commitment to prioritizing immunization. He said, “Immunization has always been a top priority for the Sindh Government, and we are continuously working on introducing new initiatives like the PSO card to improve the program’s functionality and efficiency. This step is just the beginning, with more to follow.”

Dr. Muhammad Naeem, Project Director EPI Sindh, highlighted the significance of this first-of-its-kind initiative in Pakistan, saying, “The provision of motorbikes and scooters to vaccinators was a major step, and now, by providing them with PSO cards, we are further empowering them to carry out their critical field services. This has been a long-standing vision of our Honourable Minister of Health, and today, we are seeing it come to life.

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NAB withdraws reference against Shahid Khaqan Abbasi

NAB

KARACHI: The Accountability Court has approved National Accountability Bureau(NAB) ‘s request to withdraw the reference against former Prime Minister Shahid Khaqan Abbasi in the case of alleged illegal recruitment in Pakistan State Oil.

A hearing was held in the Accountability Court of Karachi on the reference of alleged illegal recruitment in PSO.

The court accepted the request of the NAB officials to withdraw the reference and ordered the reference to be sent back to the NAB chairman.

According to NAB officials, Shahid Khaqan Abbasi and others were accused of illegal appointment of former MD PSO, misuse of powers and damage to national exchequer.

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Oil Tankers Owners Association stops fuel supply to Twin Cities 

Oil Tankers

ISLAMABAD: The Oil Tankers Owners Association (OTOA) stopped the fuel supply in Rawalpindi and Islamabad.

According to the Oil Tankers Owners Association, the delivery of petroleum products will also remain suspended in Gilgit-Baltistan, Azad Kashmir, while the supply of petroleum products to airports has also been stopped.

The association said that Pakistan State Oil (PSO) officials have introduced a new automated system of petrol filling, PSO officials and DC Islamabad have informed about the concerns, and filling demand should be met under a metered system.

In this regard, Chairman All Pakistan Oil Tankers Owners Association Mir Shams Shahwani has said that the country and the nation are with the government in this critical situation, and have asked to continue the supply to all the depots.

Mir Shams Shahwani demanded that action and a case be registered against the blackmailers.

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Highest levy achieved in country’s history

Highest levy in history

Rs 222 billion were collected in the form of levy. Rs 47,480,000,000 was collected last year. Record the burden of the petroleum levy put on people. Islamabad: For the first time in the country’s history, the highest levy was collected in the first quarter of the financial year; 222 billion rupees were collected in the … Read more

Private airlines increased fares owing to PIA’s financial crisis

Private airlines fares

The PIA and PSO dispute intensified. Karachi-Lahore flights cost 35 to 49 thousand rupees. PIA’s schedule is badly affected.  The private airlines have increased their fares after the financial crisis of Pakistan International Airlines (PIA) intensified, Bol News reported. According to details, the national airline PIA and Pakistan State Oil (PSO) dispute intensified, due to … Read more

PSO restores supply of jet fuel to PIA

fuel
  • Temporary settlement reached between PIA and PSO.
  • PIA has paid Rs 500 million to PSO.
  • PIA will have to make mandatory payments tomorrow.

KARACHI: Pakistan State Oil(PSO) and Pakistan International Airlines(PIA) have reached a temporary solution to the dues payment dispute.

According to details, a temporary settlement has been reached between PIA and PSO regarding payment of dues, after which the supply of jet fuel to PIA has been restored.

PIA has paid Rs 500 million PSO. The PSO said the current payment limit will expire by tomorrow evening.

PSO officials said that PIA still owes Rs 1,355 million, which PIA will have to make mandatory payments tomorrow to maintain fuel supply.

It should be noted that Pakistan State Oil had stopped the supply of fuel to the national airline PIA due to which several flights were cancelled.

About 20 flights to Karachi, Lahore, Islamabad were canceled due to PSO stopping the supply of fuel to PIA.

PIA Flight PK 306 from Karachi to Lahore and Flight PK 350 from Karachi to Peshawar were also cancelled.

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PSO suspends fuel supply to PIA again

PSO
  • The PIA owes PSO Rs 26 billion.
  • Flights operation disturbed in Pakistan.
  • Fuel supply stopped due to non-payment.

KARACHI: Pakistan State Oil (PSO) has once again stopped the fuel supply to Pakistan International Airlines(PIA).

According to sources, PSO has stopped fuel supply to Pakistan Airlines due to non-payment of daily payments. The PIA owes PSO Rs 26 billion.

Sources say that many domestic and international flights of PIA have been canceled and delayed due to the non-availability of fuel.

According to sources, 20 PIA flights from Karachi, Lahore, and Islamabad have been canceled while PIA flight PK 215 from Karachi to Dubai has been delayed.

Sources say that Karachi to Lahore flight PK 306, Karachi to Peshawar flight PK 350, Karachi to Gwadar, and Karachi to Islamabad flight PK 370 are also canceled.

According to sources, PIA flight 310 from Karachi to Quetta and Karachi to Rahim Yar Khan flight have also been canceled.

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Caretaker Minister for Energy held meeting with PSO

PSO
  • The Minister was briefed by Managing Director PSO.
  • Caretaker Minister directed PSO to minimise circular debt.
  • Energy Minister held meeting with Oil Marketing Companies.

KARACHI: The Federal Minister for Energy Muhammad Ali held important meeting with PSO management at PSO House Karachi.

The Minister was briefed by the Managing Director Pakistan State Oil(PSO), Syed Muhammad Taha regarding overall performance and challenges being faced by the PSO.

The Managing Director of PSO apprised the Minister that the PSO had an extensive network of 3500 outlets nationwide.

The caretaker Federal Minister directed the PSO management to minimise the circular debt, being the Pakistan’s leading energy company.

The meeting was attended by the Chairman,  Oil & Gas Regulatory Authority(OGRA), Masroor Khan and Additional Secretary Incharge Ministry of Energy,  Momin Agha.

Later on, the Caretaker Federal Minister for Energy, Muhammad Ali also held a meeting with the heads of Oil Marketing Companies(OMCs) headed by the Secretary General Oil Marketing Companies(OMCs), Dr. Nazir Abbas Zaidi.

The delegation of Oil Marketing Companies(OMCs) raised their issues regarding foreign exchange losses, pricing formula, illegal outlets and turn over tax to be minimised. Mr. Mehmet Celepoglu, the Chief Executive Officer of Total Parco Pakistan also joined the meeting through video conference.

Mr. Mehmet also appealed the caretaker Minister for Energy to formulate the uniform policy and reimburse the amount of foreign loss after conducting audit in order to create uniformity among the companies.

The Caretaker Federal Minister for Energy ensuring his complete support, directed the Chairman, Oil and Gas Regulatory Authority(OGRA) and Additional Secretary Incharge, Ministry of Energy to address the issues on priority basis.

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PSO records Rs20.3 billion profit in second quarter of FY22

pso

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

FPCCI expresses surprise over purchase of LNG at inflated rates

FPCCI

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) president Mian Nasser Hyatt Maggo has expressed astonishment at the purchase of liquefied natural gas (LNG) at the rate of $30.6/MMBTU and said that this rate will destroy the fuel supply safety and foreign exchange reserves of the country, a statement said. Welcoming the visit … Read more

Petroleum crisis deepens as govt, dealers still at loggerheads

Petrol Strike

ISLAMABAD: The government and the All Pakistan Petroleum Dealers Association (PPDA) are still at loggerheads on the issue of increase in the profit margins. In a statement, Federal Minister for Energy Hammad Azhar said that some groups of the petroleum dealers want to pressurise the government for an increase in their margins to Rs9, which … Read more

SSGC participates in ADIPEC to find suppliers

SSGC

KARACHI: The Sui Southern Gas Company (SSGC) participated in the Abu Dhabi International Petroleum Exhibition and Conference, a statement said. ADIPEC is a premier energy sector event held in Abu Dhabi. It is hosted annually by Abu Dhabi National Oil Company (Adnoc). Managing Director of the SSGC, Imran Maniar said that finding new suppliers, probing … Read more

Trials of Punjab football team for Inter-Provincial Youth Tournament

Trials of Punjab football team for Inter-Provincial Youth Tournament

LAHORE: The selection committee of Sports Board Punjab (SBP) conducted trials of provincial Under-17 football team at the Punjab Stadium, on Saturday. The selected team will participate in Inter-Provincial Football Youth Tournament, scheduled to be organised in Gilgit-Baltistan in the middle of next month. SBP Director General (DG) Adnan Arshad Aulakh visited Punjab Stadium to … Read more

Oil products sales surge 26% in August

KARACHI: Pakistan’s Oil Marketing Companies (OMC) off-take surged 26 per cent to 1.96 million tonnes during August 2021 because of higher high-speed diesel (HSD) and furnace oil (FO) off-take during the month, the official data revealed on Thursday. Motor spirit (MS) sales surged 9 per cent to 1.5 million tonnes during the two months of … Read more

PSO to buy priciest LNG cargo amid tight global market

KARACHI: The Pakistan State Oil (PSO) procured a spot shipment for September 26 and 27, 2021 delivery at the equivalent of $17.85/mmbtu. Vitol will supply the cargo. According to the PSO, Vitol offered to supply LNG at the rate of 24.5456 per cent of Brent, which is equivalent to $17.85/mmbtu. Pakistan’s previous record-high LNG cargo … Read more

Pakistan equity markets remains bearish amid rollover week

PSX

KARACHI: Pakistan stocks witnessed another bearish session, amid rollover week and the spread of Covid, as Pakistan has reported highest active cases since April 29, 2021. Additionally, the rupee fell to an 11-month low against the dollar, which further created the uncertainty at the bourse. An analyst at Arif Habib Limited said the market saw … Read more

PSO declares final cash dividend of Rs10/share

KARACHI: The Pakistan State Oil (PSO) has declared a final cash dividend of Rs10/share for the year ended June 30, 2021, which is in addition to the interim dividend of Rs5/share already paid to the shareholders. The PSO announced a net profit of Rs29.5 billion, translating into the earnings per share (EPS) of Rs62.63 for … Read more

Fuel imports surge as smuggling curbed

oil markets

KARACHI: A significant jump in import quantities of high-speed diesel (HSD) was observed during FY21 ended June 30, 2021, as the authorities have cracked down on smuggling of diesel from neighbouring Iran. As much as 17,735 tonnes of HSD was legally imported during FY21, seven times higher as against 2,048 tonnesd imported in FY20. Similarly, … Read more

Equity market: Bears return on absence of positive triggers

stock

KARACHI: The equity market started the session in the green zone, but later on bears took the charge and dominated the bourse throughout the day, while traded volume remained low due to the absence of any positive trigger, delay in refinery policy and mixed results announcements, dealers said on Thursday. An analyst at Arif Habib … Read more

Relax! No gas price hike: notification withdrawn

Ogra

ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has withdrawn the notification regarding increase in the prices of re-gasified liquefied natural gas, a statement issued by the regulator said on Tuesday. After the issuance of the Ogra notification, the All Pakistan CNG Association (APCNGA) has reversed the prices of the compressed natural gas (CNG) on … Read more

PSO issues tender for October fuel procurement

PSO

KARACHI: The state-owned Pakistan State Oil (PSO) has floated several tenders for the supply of petroleum products to ensure ample availability of fuel in the upcoming winters. PSO has invited bids for the supply of three motor gasoline cargos of 45,000 tonnes each in October 2021, along with two standard size cargo each of high-sulphur … Read more