Karachi, August 6, 2024 – The Oil and Gas Development Company Limited (OGDCL), a prominent player in Pakistan’s energy sector, has announced a significant new gas discovery in the country.
(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.
-
High Petroleum Prices Cut Sales 11% YoY in July 2024
Karachi, August 2, 2024 – High petroleum prices have significantly impacted the oil sector, reducing sales by 11% year-on-year (YoY) in July 2024, according to research analysts at Arif Habib Limited. Total petroleum sales for the month stood at 1.20 million tons, reflecting the challenging market conditions.
(more…) -
President Zardari Seeks Viable Solution to IPPs Capacity Charges
Islamabad, August 2, 2024 – President Asif Ali Zardari has urged for a collaborative and effective solution to address the rising energy costs in Pakistan. He proposed that the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) should form a committee to work with the President’s office in developing a viable strategy to manage the payment of capacity charges to Independent Power Producers (IPPs).
(more…) -
Minister Assures Capacity Payment Issues Will Be Resolved Soon
Islamabad, August 1, 2024 – Federal Minister for Power Awais Ahmad Khan Laghari has assured that the ongoing capacity payment issues affecting electricity tariffs will be resolved soon.
(more…) -
Pakistan Slashes Petroleum Prices for Half of August 2024
Islamabad, July 31, 2024 – In a move set to provide much-needed respite to citizens grappling with high electricity bills and taxes, Pakistan announced a significant reduction in petroleum prices for the first half of August 2024. This development comes as a response to the recent decline in global oil rates.
(more…) -
Pakistan May Cut Petroleum Prices for First Half of August 2024
Islamabad, July 31, 2024 – Pakistan is poised to provide much-needed relief to consumers with an anticipated decrease in petroleum prices for the first half of August 2024.
(more…) -
FBR Clarifies 100% Tax Credit for Sindh Coal Mining
Karachi, July 30, 2024 – The Federal Board of Revenue (FBR) has issued a crucial clarification regarding tax credits for coal mining operations in Sindh. According to the latest Circular No. 1 of 2024-25, which outlines amendments made to the Income Tax Ordinance, 2001 through the Finance Act, 2024, a 100% tax credit is available for income exclusively derived from coal mining activities in Sindh.
(more…) -
Government Unveils Petroleum Levy Collection Plan till FY27
Karachi, July 21, 2024 – The Pakistani government has unveiled a comprehensive strategy for the collection of petroleum levy, a crucial non-tax revenue source, with ambitious targets set through the fiscal year 2026-27.
(more…) -
Pakistan Raises Petroleum Prices for 2nd Half of July 2024
Islamabad, July 16, 2024 – The citizens of Pakistan are facing another increase in fuel costs as the government announced higher prices for petroleum products, effective July 16th. This hike is in response to the recent surge in global oil prices.
(more…) -
Pakistan Oilfields Strikes Black Gold in Jhandial-03 Well
Karachi, July 15, 2024 – Pakistan Oilfields Limited (POL), a leading oil and gas exploration company, has announced a significant discovery of hydrocarbon reserves at its Jhandial-03 well located in Attock district. This promising development comes after drilling commenced in October 2023.
(more…)