Strike on Saudi’s ARAMCO: Pakistan’s oil bill may rise

KARACHI: Analysts have said that higher oil prices as a result of drone attacks on world’s largest oil facility in Saudi Arabia’s may increase the oil import bill of Pakistan. Read more »

Hub Power declares Rs8.036 billion annual profit, 6.17pc lower than previous year

KARACHI: Hub Power Company Limited (HUBCO) has declared net annual profit of Rs8.036 billion for the period ended June 30, 2019, which is 6.17 percent lower than the profit of Rs8.565 billion... Read more »

OGDCL discovers huge gas reserves in Khyber PakhtoonKhwa

KARACHI: Oil and Gas Development Company Limited (OGDCL) on Tuesday announced huge amount of gas discovery and condensate from exploratory well at Kohat, Khyber PakhtoonKhwa. Read more »

Pakistan Oilfields announces large oil, gas discovery in Kohat

KARACHI: Pakistan Oilfields Limited (POL) on Thursday announced discovery of large deposits of oil and gas at TAL Block, Kohat District, Khyber Pakhtunkhwa. Read more »

SBP issues Islamic financing scheme for renewable energy projects

KARACHI: State Bank of Pakistan (SBP) on Wednesday issued a new scheme of Islamic financing for renewable energy power projects. Read more »

Hubco declares commercial operation date for 1320MW coal-based power plant

KARACHI: China Power Hub Generation Company (CPHGC) – a joint venture between The Hub Power Company Ltd. (HUBCO) and China Power International Holding – has declared the Commercial Operations Date (COD) of... Read more »

SBP revises refinance scheme for renewable energy

KARACHI: State Bank of Pakistan (SBP) on Friday issued revised refinancing scheme for renewable energy under which maximum loan amount is Rs6 billion for a single project up to 50 megawatts. Read more »

OGDCL announces discovery of oil and gas in Sindh

KARACHI: Oil and Gas Development Company Limited (OGDCL) on Wednesday announced discovery of oil and gas in District Sanghar of Sindh province. Read more »

Hascol, Vitol Dubai enter $42 million financial arrangement

KARACHI: Vitol Dubai Limited (VDL) has agreed to provide financial facility of $42 million to Hascol Petroleum Limited, an announcement said on Monday. Read more »

Pakistan starts receiving Saudi crude oil on deferred payment

KARACHI: Pakistan has started receiving crude oil on deferred payment from Saudi Arabia. In this regard two ships carrying 116,276 metric ton crude oil arrived at Karachi port on Saturday. Read more »

Engro starts commercial operation of 660MW coal-fired power project

KARACHI: Engro Powergen Thar (Private) Limited on Wednesday started commercial operation of its 660 Megawatts Coal-Fired power generation complex at Thar Block-II, District Tharparkar, Sindh. Read more »

FBR issues uniform 17pc sales tax rates for petroleum products

ISLAMABAD: Federal Board of Revenue (FBR) on Sunday issued uniformed sales tax rates for petroleum products effective from July 01, 2019. Read more »