A severe fuel shortage has disrupted police security operations for the judiciary in Karachi, after Pakistan State Oil (PSO) suspended fuel supply to Security Unit One over unpaid dues, raising concerns about the safety of courts and judicial personnel. According to official sources, the fuel allocated budget for Security Unit One has been fully exhausted, […]
PSO
Ogra, PSO face criticism over weak monitoring in the petroleum sector
Authorities in Pakistan have raised serious concerns over the slow pace of digital integration and monitoring in the petroleum sector, with Oil and Gas Regulatory Authority (OGRA) and Pakistan State Oil (PSO) coming under criticism during a high-level meeting in Islamabad. Read More: Ogra, PSO come under fire for lethargic monitoring of oil stocks The cabinet committee, formed by Prime Minister […]
Ogra, PSO come under fire for lethargic monitoring of oil stocks
The Oil and Gas Regulatory Authority (Ogra) and Pakistan State Oil (PSO) on Monday came under fire for insufficient and lethargic online integration and automation of stock and supply position of oil products for improved visibility and monitoring. Subsequently, the government decided to activate law enforcement and investigation agencies for improved monitoring of retail petroleum […]
Pakistan secures petroleum supplies through April 25 amid regional tensions
ISLAMABAD: Pakistan has ensured uninterrupted petroleum supplies until April 25, with refineries operating at 80% to 100% capacity and imports from multiple sources reinforcing domestic reserves, officials said on Thursday. Read More: Govt decides to keep petroleum prices unchanged Authorities from the Petroleum Division Pakistan confirmed that the country is currently facing no shortage of petroleum products. […]
Pakistan Airport Authority signs jet fuel supply agreement with PSO
The Pakistan Airport Authority (PAA) has signed an agreement with Pakistan State Oil (PSO) to secure a steady supply of jet fuel for its aircraft. The deal ensures aviation-grade fuel for the authority’s two flight inspection aircraft, which are used for calibration and operational checks. Read More: Pakistan airports authority faces Rs4.10b loss over airspace closure […]
Govt to shift LNG diversion losses onto RLNG consumers
ISLAMABAD: In a significant policy shift, the government has decided it will no longer absorb financial losses arising from the diversion of Liquefied Natural Gas (LNG) cargoes under the Net Proceed Differential (NPD) clause. Instead, any losses incurred will now be passed on to Regasified Liquefied Natural Gas (RLNG) consumers, officials confirmed to The News. […]
Pakistan asks Qatar to divert 24 LNG cargoes
ISLAMABAD – Pakistan has asked Qatar to divert 24 of its contracted LNG cargoes to the international market in 2026 due to declining domestic demand and an oversupply of imported gas, The News reported on Saturday. Officials from the Petroleum Division said the proposal would be finalised by the end of October under the Net […]
Government injects Rs 80 billion cash in listed IPPs; more to come
In the first installment of latest circular debt clearance, the government has settled 40% of the overdue receivables of Rs 200 billion for listed independent power producers (IPPs) while the remainder receivables are expected to be settled by Dec’21. Shahrukh Saleem, a senior analyst at AKD Securities Ltd informed that 40% settlement of dues is […]
Oil Sales increase by 14 percent YoY in May
Sales’ volumes of oil marketing companies (OMC) continued on a growth trajectory with an increase of 14 percent YoY for May’21 due to a strong rebound post COVID-19 related economic slowdown at 1.7 million tons, while sequentially, volumes grew by 1 percent MoM despite extended Eid holidays during May’21. Shahrukh Saleem, a senior analyst at […]
Senate body discusses queue system of PSO oil tankers
The Senate Standing Committee on Petroleum in its meeting on Friday discussed the issues of queue system for oil tankers in the PSO fleet and the preference to make tankers/lorries compliant to the standards defined by the Oil and Gas Regulatory Authority (OGRA) and the National Highway Authority (NHA). The committee’s earlier direction was of […]