Pakistan News

    Oil Companies In Pakistan Islamabad Fue

  • Oil, gas companies ordered to treat natural gas as LNG

    ISLAMABAD: In a surprise development, the Ministry of Petroleum and Natural Resources on Wednesday ordered the oil and gas companies involved in liquefied natural gas (LNG) to treat domestic natural gas being supplied to PakArab Fertiliser Limited as regasified LNG...

    Informed sources in the petroleum ministry said the orders were issued to the Sui Northern Gas Pipelines Limited (SNGPL), Sui Southern Gas Company Limited (SSGC) and...

  • Oil companies threaten to move against Honda

    ISLAMABAD: The Oil Compa­nies Advisory Council (OCAC) — a representative body of around a dozen oil marketing companies (OMCs) and refineries — threatened Honda Pakistan on Wednes­day to withdraw its complaint about the alleged sale of low-quality fuel in the market or face legal action...

    In a complaint to the Oil and Gas Regulatory Authority (Ogra), Honda Atlas Cars Pakistan reported high manganese content in recently upgraded 92RON...

  • Profit margins of oil companies, dealers likely to go up

    ISLAMABAD: The maiden meeting of the reconstituted Economic Coordination Committee (ECC) of the cabinet is expected this week to consider increasing profit margins of oil marketing companies (OMC) and dealers through prices of petroleum products...

    A senior official told Dawn that the oil industry has been lobbying the government for an early decision on higher profit margins on the sale of petrol and high-speed diesel (HSD) in line...

  • Setting up oil marketing companies likely to cost Rs7bn

    ISLAMABAD: After facilitating a selective few, the government is contemplating to increase the cost of opening new oil marketing companies (OMCs) by 14 times – from Rs500 million to at least Rs7 billion – to limit their mushroom growth...

    This comes following the opening of floodgates by Oil and Gas Regulatory Authority (Ogra) when it granted 21 fresh licences in just six months (July-Dec 2016) compared to 20 over the past 70 years......

  • Ogra issues show-cause notices to top oil companies for overcharging

    ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has issued show-cause notices to seven top oil marketing companies (OMCs) for alleged overcharging and substandard sale of petroleum products in Azad Jammu and Kashmir (AJK)...

    The companies that have been issued show-cause notices include Pakistan State Oil (PSO), Shell Pakistan Ltd (SPL), Total Parco Marketing Ltd (TPML), Attock Petroleum Ltd (APL), Askar, Admore and Overseas...

  • SC asks three oil exploration companies to deposit Rs100m

    ISLAMABAD: The Supreme Court on Tuesday asked three oil exploration companies from Sindh to deposit a total of Rs100 million — a contribution towards the Workers Welfare Fund (WWF) for the period 2015 — in the office of the court’s registrar until it decides finally whether the federal or the provincial government should collect the funds after the subject of labour welfare has been devolved to provinces under the 18th Amendment to the...

  • Russian firm signs MoUs with two oil companies

    ISLAMABAD: Russia is expected to soon return to Pakistan’s petroleum sector after five decades with fresh investment commitments in new exploration and development techniques and construction of cross-country pipelines...

    5 billion, 1,100-kilometre gas pipeline from Karachi to Lahore, some Russian companies are preparing to enter Pakistan’s exploration and development sector...

  • Iraq, oil companies agree to restart investment

    BAGHDAD: Iraq has reached agreement with BP, Shell and Lukoil to restart stalled investment in oil fields the firms are developing, allowing projects that were halted this year to resume and crude production to increase in 2017, Iraqi oil officials said...

    The agreements, reached in July and August, effectively delay to the second half of the year projects that the three companies had planned to carry out in the first half, which had...

  • Ogra slaps Rs17.8m fine on five oil marketing companies

    ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has imposed a Rs17...

    8 million fine on five oil marketing companies for not maintaining sufficient stocks of petroleum products in violation of their licence requirements which led to the country’s worst petrol crisis in January...

  • Senate body seeks security for oil, gas companies

    ISLAMABAD: The Senate Standing Committee on Petroleum, which met here at the Parliament House on Thursday, started discussion on provision of security to foreign companies operating in the field of oil and gas exploration...

    He informed that the government had decided to raise a separate division, consisting of six paramilitary wings and eight army battalions, for China-Pakistan Economic Corridor (CPEC)...

  • Oil companies dispute LPG prices notified by Ogra

    ISLAMABAD: Oil companies have challenged prices notified by the Oil and Gas Regulatory Authority (Ogra) for liquefied petroleum gas (LPG), stating the move lacked legal ground and market principles and would negatively affect producers and consumers...

    A senior government official told IDawnI that the oil companies had asked the government through Minister for Petroleum Shahid Khaqan Abbasi to revoke the prices notified by the...

  • Refineries face closure as oil marketing companies reluctant to pick up stocks

    ISLAMABAD: Amid wheat harvesting season, the government has asked the Oil and Gas Regulatory Authority (Ogra) to take action against oil marketing companies (OMCs) for their reluctance to uplift petroleum products from refineries, resulting in serious supply problems...

    This is resulting in increased pressure on state-run Pakistan State Oil which is also finding it difficult to maintain its mandatory stocks at various locations across...

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