Karachi, January 23, 2024 – The second quarter of the fiscal year 2023-24 may witness a dip in profitability for Oil Marketing Companies (OMCs) in Pakistan, primarily due to anticipated inventory losses.
KARACHI: Oil marketing companies (OMCs) are currently confronted with several challenges that are unlikely to abate anytime soon.
KARACHI: Pakistan’s domestic oil sales have jumped up by 26 percent to 1.97 million tons, which is the highest since May 2018. Analysts at Topline Securities said that oil sales are also up 1 percent Month on Month (MoM), whereas oil sales during the first two months of the fiscal year 2021/2022 clocked in at […]
ISLAMABAD: Directorate General of Intelligence and Investigation. Customs, Multan has announced auction of huge quantity of POL products on December 22, 2020 at the directorate office. The directorate will auction POL products, included: High Speed Diesel (HSD) 295,200 liters; Kerosene Oil 111,630 liters; and base oil 94,200 liters. The directorate said that the quotations for […]
ISLAMABAD: Authorities on Tuesday initiated legal action against Oil Marketing Companies (OMCs) for indulgence in hoarding of petroleum products (POL) and creating artificial shortage. At least two FIRs have been lodged against OMCs including Hascol Petroleum Limited and Gas & Oil Pakistan Limited for their involvement in black marketing of petroleum products. A team of […]
ISLAMABAD: Petroleum Division has recommended termination of dealers licenses for failure to ensure sufficient stock for their respective Oil Marketing Companies (OMCs). The petroleum division is cognizant of the artificial shortage of POL products that is being created in the country by opportunist OMCs and petrol dealers, a statement said on Thursday. The petroleum division […]