IDEAS 2024 is scheduled from Nov 19-22 at Expo KARACHI Sindh Chief Minister Syed Murad Ali Shah has said that IDEAS is a shared platform for global peace, stability and prosperity. It is [IDEAS] is an event that provides enhanced opportunities for commercial exchange between delegates, trade visitors, defence officials and manufacturers from within Pakistan and abroad,” he said. This…
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Pakistan Karachi, 03 July, 2024: Shell Pakistan Limited (SPL) launches Pakistan’s first-ever recycled plastic retail site, Malik Service Station at Shahrah-e-Faisal, Karachi. This initiative aligns with SPL’s commitment towards sustainability; and promotes circular economy and environmentally friendly practices. The organization collaborated with Dabeer Hemani and Syed Ali Naqi, cofounders of Concept Loop, and Shell Tameer alumnus to bring this vision…
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ISLAMABAD: Prime Minister Shehbaz Sharif has directed the Petroleum Division and Finance Division to prepare a comprehensive plan to sell minority stakes, including management control, in state-owned enterprises (SoEs) within the oil and gas sector to a Gulf Cooperation Council (GCC)-based strategic investor, according to sources close to the Petroleum Minister. In a meeting on June 25, the prime minister…
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KARACHI: Pakistan Petroleum Limited (PPL) has announced a significant gas discovery from the exploratory well Tor-1 in the Latif Block, located in Khairpur District, Sindh Province. The Tor-1 well, operated by United Energy Pakistan Beta (UEP Beta) with a 33.40% working interest, along with joint venture partners PPL and Prime Pakistan Limited, each holding a 33.30% interest, successfully reached its…
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KARACHI: Petroleum demand in Pakistan has hit an 18-year low, with consumption falling to 15.3 million tonnes in the fiscal year 2023-24, which ended on June 30. Despite this decline, the government has collected an estimated Rs1 trillion in petroleum development levy (PDL) over the year. The drop in demand is attributed to the PDL of Rs60 per litre on…
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ISLAMABAD: The Pakistan Petroleum Dealers Association (PPDA) has announced a countrywide strike on July 5 to protest the 0.5% advance turnover tax introduced in the latest budget. Despite the government’s acknowledgment of the error and assurance of the tax’s withdrawal, the PPDA remains steadfast in its protest plans. In response, the government has instructed oil marketing companies (OMCs) to maintain…
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