Author: Admin

Pakistan Receives First-Ever US Crude Oil Shipment at Cnergyico Terminal

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Karachi, October 30, 2025 – In a landmark development for Pakistan’s energy sector, the country has received its first-ever shipment of crude oil from the United States, marking a new chapter in Pakistan–US trade relations. The vessel MT Pegasus, carrying one million barrels of West Texas Intermediate (WTI) crude, docked at Cnergyico’s Single Point Mooring (SPM) terminal off the coast of Balochistan. This milestone also sets a national record as the largest oil tanker ever to berth at a Pakistani port. Industry officials hailed the arrival as a strategic move…

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OGDC announces Financial Results for the Quarter ended September 30, 2025; Declares Highest-Ever First Quarter Dividend of Rs 3.50 per Share

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ISLAMABAD, October 29, 2025: The Board of Directors of Oil & Gas Development Company Limited (OGDC), in its meeting held on Wednesday, October 29, 2025, in Islamabad, announced the financial results for the quarter ended September 30, 2025, and declared a first interim cash dividend of Rs 3.50 per share (35%) — the highest first-quarter dividend in the Company’s history. OGDC posted net sales revenue of Rs 96.192 billion and profit after tax of Rs 38.305 billion, translating into earnings per share (EPS) of Rs 8.91. During the period, the…

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POL Posts Rs5.4bn Profit in Q1 Despite Decline in Sales

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KARACHI: Pakistan Oilfields Limited (POL) has reported a robust Rs5.4 billion profit for the first quarter ended September 30, 2025, marking a 2.1-fold year-on-year increase, despite a drop in sales revenue. The earnings translate into an earnings per share (EPS) of Rs19.13, though quarterly profit was down 27% compared to the previous quarter. According to the company’s financial statement, net sales fell 15% year-on-year to Rs13.1 billion, primarily due to lower oil and gas production volumes and a 14% decline in average crude oil prices. However, sales improved 7% quarter-on-quarter,…

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LESCO, PSO Ink Agreement to Ensure Transparent Fuel Management

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LAHORE: The Lahore Electric Supply Company (LESCO) has signed an agreement with Pakistan State Oil (PSO) for the supply of fuel to all LESCO-owned vehicles, marking a major step toward enhancing transparency and curbing misuse in the company’s fuel management system. The signing ceremony, held at the LESCO Head Office, was attended by CEO Engr. Ramzan Butt, senior officials from LESCO, and representatives from PSO. Under the agreement, all LESCO vehicles will now exclusively refuel at PSO filling stations through a dedicated fuel card system. Each vehicle will be issued…

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Wafi Energy Pakistan Posts Rs3.03bn Profit in 9MFY25, Expands Retail Network and Sustainability Drive

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Wafi Energy

KARACHI: Wafi Energy Pakistan Limited (WEPL) has reported a robust profit after tax of Rs3.03 billion for the nine months ended September 30, 2025, a significant rise from Rs724 million in the same period last year, reflecting strong operational growth and improved efficiency. The company — which operates Shell-branded fuel stations across Pakistan — expanded its retail footprint by commissioning 28 new outlets, upgrading seven existing sites, and adding 12 Shell Select convenience stores nationwide during the reporting period. In line with its sustainability vision, WEPL inaugurated its second eco-friendly…

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