The federal government is reviewing plans to impose a 20% windfall gain tax on oil companies after petroleum firms reportedly earned massive profits during the recent Gulf conflict. Officials said the proposal aims to recover excess gains generated after fuel prices surged sharply following instability in international energy markets. Authorities are also considering alternative measures […]
Oil Companies
US weighs future of Venezuela’s oil sector after Maduro arrest
The Trump administration is planning meetings with executives from major US oil companies this week to discuss the future of Venezuela’s oil sector, according to a source familiar with the matter. The discussions follow the US military operation that led to the arrest of Venezuelan leader Nicolas Maduro. The planned meetings are seen as central […]
Ogra urged to act as diesel supply gaps spread nationwide
The Pakistan Petroleum Dealers Association (PPDA) has warned Ogra about diesel shortages in several parts of the country. Dealers claim oil companies are restricting supply to speculate on higher prices. They urge immediate action to prevent a national fuel crisis. PPDA vice-chairman Nauman Ali Butt said allocated diesel quotas cannot meet current demand. Dealers report […]