ISLAMABAD: The federal government announced to keep the prices of petroleum products unchanged for the next fortnight in Pakistan. As per a notification issued here, the price of petrol has been kept unchanged at Rs254.63 per litre, effective from April 16, 2025. The price of high-speed diesel also remained unchanged at Rs258.64 per litre. The announcement follows a statement from Prime…
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ISLAMABAD: Chairperson of Oil and Gas Development Company (OGDC), Zafar Masud, visited the company’s head office on Monday to commend Managing Director Ahmed Hayat Lak and the OGDC team for the successful organisation of the Pakistan Minerals Investment Forum 2025 (PMIF25), according to a press release. Masud applauded the team for hosting a world-class event that showcased Pakistan’s mineral wealth…
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ISLAMABAD: The government has successfully diverted a fourth LNG cargo, scheduled for delivery in May 2025 from Italian energy firm ENI, to the international market, according to a senior official at the Energy Ministry. Efforts are also underway to reroute a fifth cargo due in June. This follows earlier diversions of ENI-supplied cargoes originally planned for February, March, and April.…
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ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has increased the transmission rates for Regasified Liquefied Natural Gas (RLNG) for May 2025, following federal government policy guidelines. The hike reflects a rise of up to 5.44% compared to April, driven primarily by an increase in the Delivered Ex-Ship (DES) price. According to OGRA, while the RLNG transmission rate for Sui…
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LONDON: The Organization of the Petroleum Exporting Countries (OPEC) has revised its global oil demand growth forecast downward for 2025 and 2026, marking the first cut since December. The adjustment reflects weaker-than-expected data from the first quarter and trade tensions driven by new US tariffs. In its monthly report released Monday, OPEC projected global oil demand to rise by 1.30…
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ISLAMABAD: The government has assured the International Monetary Fund (IMF) that electricity and gas subsidies will be aligned with the Benazir Income Support Programme (BISP) to ensure that only low-income households benefit from the relief, sources in the Finance Ministry revealed. The move is part of broader energy sector reforms aimed at reducing inefficient consumption, curbing losses, and supporting Pakistan’s…
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BEIJING: Oil prices edged higher on Tuesday, buoyed by signals of possible US tariff exemptions and a rebound in China’s crude oil imports, which offset broader market uncertainty. Brent crude futures rose by 12 cents, or 0.2%, reaching $65 per barrel by 0350 GMT. US West Texas Intermediate (WTI) crude also climbed 13 cents, or 0.2%, to $61.66 per barrel.…
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