The Oil & Gas Regulatory Authority (Ogra) has recommended a significant reduction in deemed duty on high-speed diesel (HSD), urging that the current rate of 7.5% be cut to 5% for refineries that have not committed to upgrade agreements as outlined in the Pakistan Oil Refinery Policy.
(more…)Category: Energy
You can go through stories related to energy. The stories are about changes in petroleum prices and updates on energy sector of Pakistan and world.
-
NEPRA Reduces FCA for September 2024 Electricity Prices
The National Electric Power Regulatory Authority (NEPRA) has announced a reduction of Rs 1.28 per unit in electricity prices for September 2024 under the Fuel Charges Adjustment (FCA). This reduction, effective in November’s billing cycle, reflects adjustments based on global fuel price variations that impact monthly power bills.
(more…) -
FPCCI Proposes Essential Amendments to Petroleum Act 1934
Karachi, November 4, 2024 – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has proposed essential amendments to the Petroleum Act of 1934, emphasizing the need for modernization to address the evolving demands of the petrochemical industry.
(more…) -
Petroleum Levy Collection Surges to Rs 262 Billion in 1QFY25
Islamabad, November 2, 2024 – Pakistan’s petroleum levy collection has recorded a robust surge, reaching Rs 262 billion in the first quarter of the fiscal year 2024-25, according to a report released by the Ministry of Finance.
(more…) -
Pakistan’s Petroleum Sales Surge by 18% in October 2024
Karachi, November 2, 2024 – Pakistan’s petroleum sales experienced a robust 18% Year-on-Year (YoY) increase in October 2024, totaling 1.49 million tons—the highest monthly sales figure since November 2022, according to a report from analysts at Arif Habib Limited.
(more…) -
Pakistan Raises Petrol, Diesel Prices Effective November 1, 2024
Islamabad, October 31, 2024 – In an announcement made on Thursday, the government of Pakistan revealed a revision in petroleum prices, effective November 1, 2024. For the first half of the month, the price of petrol has seen a modest rise, impacting consumers across the country amid shifting global market trends.
(more…) -
PSO Discloses Billions in Tax Contingencies Amid Ongoing Appeals
Karachi, October 31, 2024 – Pakistan State Oil (PSO) has revealed substantial tax contingencies totaling billions of rupees as of September 30, 2024, according to its latest financial report.
(more…) -
Pakistan Revises Petroleum Prices for First Half of November 2024
Karachi, October 31, 2024 – As global oil markets continue to experience fluctuation, Pakistan’s authorities prepare to announce revised petroleum prices for the initial fortnight of November 2024.
(more…) -
PPL Reports 24% Drop in Quarterly Profit Amid Rising Costs
Pakistan Petroleum Limited (PPL) has reported a significant 24% decrease in its profit after tax (PAT) for the quarter ending September 30, 2024. PPL’s PAT fell to Rs22.69 billion, compared to Rs29.76 billion during the same period last year, as the company contends with reduced sales and increased operational expenses.
(more…) -
Pakistan to Adjust Petroleum Prices for 1st Half of November 2024
Islamabad, October 29, 2024 — In response to shifting dynamics in global oil markets, Pakistan will adjust domestic petroleum prices for the first half of November 2024, with changes set to take effect on November 1. Despite a global downturn in oil prices, sources indicate that the country’s petrol and high-speed diesel (HSD) prices will see a nominal increase, potentially rising by up to 78 paisa per liter.
(more…)