SRB suspends sales tax registration of Burshane Petroleum

KARACHI: Sindh Revenue Board (SRB) has suspended sales tax registration of M/s. Burshane Petroleum Private Limited for defaulting payments for eight months and non-compliance of return filing for the same period. Read more »

PPL plans to spud 20 exploratory, developmental wells

KARACHI: Pakistan Petroleum Limited (PPL) has planned to spud 20 wells during fiscal year 2019/2020 out of which half of wells are exploratory and remaining are developmental. Read more »

OGDCL clarifies shale gas discovery

KARACHI: Oil and Gas Development Company Limited (OGDCL) on Monday clarified media reports regarding huge discovery of shale gas in Sindh. Read more »

World Bank’s IFC signs financing agreement to build six power projects in Pakistan

ISLAMABAD: IFC, a member of the World Bank Group, has signed a financing agreement of $450 million to build six wind power projects in Pakistan. Read more »

PPL announces highest-ever Rs61.6 billion after tax profit with record 11 discoveries

KARACHI: Pakistan Petroleum Limited (PPL) has posted the highest-ever Rs61.6 billion after tax profit with a record number of 11 discoveries during financial year ended June 30, 2019. Read more »

Mari Petroleum sets up subsidiary at Dubai Free Zone

KARACHI: Mari Petroleum Company Limited (MPCL) has announced establishment of a wholly owned subsidiary company at Dubai Free Zone for expansion of operations. Read more »

PM inaugurates CPHGC 1320MW Coal-fired Power Plant

KARACHI: Prime Minister Imran Khan on Monday inaugurated CPHGC 1320MW Coal-fired Power Plant, Hub, Balochistan and said that more collaborations on the same pattern may be seen in future. Read more »

Attock Petroleum posts 21 percent decline in after tax profit

KARACHI: Attock Petroleum Limited has posted 21 percent decline in its after tax profit to Rs1.22 billion for the quarter ended September 30, 2019 as compared with Rs1.54 billion in the corresponding... Read more »

Pakistan’s oil, gas reserves witness increase

KARACHI: Pakistan’s oil and gas reserves have witnessed increase by 7 percent and 1.4 percent, respectively, according to analysts at Topline Research. Read more »

Oil sales show continuous decline for 8th consecutive quarter

KARACHI: The oil sales witnessed continued downward trend in first quarter of fiscal year 2019/2020 for 8th consecutive quarter and posted fall of 13 percent Year on Year (YoY). Read more »

K-Electric awards contract to set up 900MW power plant

KARACHI: K-Electric – power generation, transmission and distribution company – has awarded a contract to establish 900MW power plant with estimated cost of around $425 million, an announcement said on Thursday. Read more »

Hascol Petroleum gets license for lube oil blending plant operation

KARACHI: The Oil and Gas Regulatory Authority (OGRA) has granted license to Hascol Lubricants (Private) Limited to start commercial operations of the lube oil blending plant located at Port Qasim Authority, company... Read more »