KARACHI: Mari Petroleum Company Limited (MPCL) on Monday announced that it has executed a farm-in agreement. The company signed the with MOL Pakistan Oil and Gas Co. B.V. for acquisition of significant working interest in Margala Block. The company signed the deal to collaborate resources and efforts to jointly perform exploration activities. The Block is […]
KARACHI: The government has provisionally awarded exploration rights of a new block situated in the Balochistan Province to a joint venture comprising Oil and Gas Development Company Limited (OGDCL) and Pakistan Petroleum Limited (PPL), a statement said on Friday. The statement issued by PPL said that the government had provisionally awarded a new block ‘Suleiman […]
KARACHI: Federal Board of Revenue (FBR) has been recommended to reduce the income tax rate for exploration and production (E&P) companies especially in wake of massive reduction in international oil prices. Overseas Investors Chamber of Commerce and Industry (OICCI) in its proposals for budget 2020/2021, said that higher corporate tax rate on exploration and production […]
KARACHI: Federal Board of Revenue (FBR) has been recommended to reduce corporate tax rate for exploration and production companies in order attract foreign investment in this sector and generate more revenue for the country. The Overseas Investors Chamber of Commerce and Industry (OICCI) in its tax proposals for budget 2019/2020 said that the applicable tax […]
ISLAMABAD: Prime Minister Imran Khan has said that the government is working on a new petroleum policy, which will offer incentives to foreign exploration and production (E&P) companies. The prime minister said this at a meeting with Chief Executive Officer Kuwait Petroleum Shaikh Nawaf Saud Al-Sabah, along with his delegation, which called on Prime Minister […]
KARACHI: The income tax law has explained separately for computation of profits and gains from exploration and production of petroleum in Pakistan. Federal Board of Revenue (FBR) recently updated Income Tax Ordinance, 2001 and explained the fifth schedule of the Ordinance under which rules have been defined. RULES FOR THE COMPUTATION OF THE PROFITS AND […]
ISLAMABAD: Pakistan on Friday offered incentives to Chinese investors interested in oil and gas exploration. The assurance was give by Federal Minister for Petroleum and Natural Resources, Ghulam Sarwar Khan at a meeting with Chinese Ambassador Yao Jang. Ghulam Sarwar Khan claimed that this meeting was quite positive and encouraging. He also emphasized the cooperation […]
KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended with gain of 169 points on Thursday on enhanced activities in scrips of exploration and production sector. The index closed at 39,090 points as against 38,921 points showing an increase of 169 points. Analysts said that market performed well today, touching a high of […]