LAHORE: The Oil Marketing Association of Pakistan (OMAP) has called on the Ministry of Petroleum to intervene regarding the Oil and Gas Regulatory Authority’s (Ogra) proposed revisions to oil marketing companies’ (OMCs) margins, which it deems insufficient for the industry’s sustainability. OMAP Chairperson Tariq Wazir Ali expressed concern over the proposed margin increase, stating that it does not account for…
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ISLAMABAD: In accordance with the State-Owned Enterprises (SOE) Act 2023, Pakistan State Oil’s (PSO) Board of Management (BoM) has implemented a stringent code of conduct aimed at curbing corrupt practices, accepting gifts, and leaking sensitive information, a senior Petroleum Division official informed The News. All bureaucrats serving on the PSO board have signed the code, and violations could lead to…
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Islamabad, October 16, 2024 – Adil Khattak, Chairman of the Oil Companies Advisory Council (OCAC), has called on the government to urgently address key challenges facing Pakistan’s downstream oil sector, warning that unresolved issues threaten the country’s refinery operations and long-term energy security. In an exclusive Q&A with Energy Update, Khattak highlighted the immediate need for government intervention to resolve…
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ISLAMABAD: The government is set to grant Host Country Approval for amended guarantee coverage in favor of a new investor for the 100MW MIRA Power Limited hydropower project in Azad Jammu and Kashmir (AJ&K), sources from the Private Power and Infrastructure Board (PPIB) revealed. At a recent PPIB meeting, Managing Director Shah Jahan Mirza briefed attendees on the exit of…
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ISLAMABAD: The government has tailored four customized ‘take and pay’ options for 18 Independent Power Producers (IPPs) established under the Power Generation Policies of 1994 and 2002, as part of its ongoing efforts to reform the power sector. According to sources, these options will be finalized by the end of the week, with formal notices expected to be issued next…
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ISLAMABAD: Pakistan and China have reaffirmed their commitment to strengthening cooperation and building a closer community with a shared future. In a joint statement issued during the Shanghai Cooperation Organisation (SCO) summit, both nations emphasized the strategic significance of their relationship in a rapidly changing global landscape. The statement underscored that any attempt to disrupt Sino-Pak ties is destined to…
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ISLAMABAD: Prime Minister Shehbaz Sharif is presiding over the highly anticipated 23rd summit of the Council of the Heads of Government (CHG) of the Shanghai Cooperation Organisation (SCO) at the Jinnah Convention Centre, Islamabad. The SCO includes China, India, Russia, Pakistan, Iran, and Central Asian nations, with 16 additional countries as observers or dialogue partners. Pakistan became a full member…
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ISLAMABAD: The government has raised the price of high-speed diesel (HSD) by Rs5 per litre, marking the first increase in three months, while the petrol price remains unchanged for the next fortnight. According to an official announcement, the ex-depot price of diesel has been revised to Rs251.29 per litre, up from Rs246.29, while petrol stays at Rs247.03 per litre. In…
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