Day: February 6, 2020

Oil prices dipped only slightly after the Energy Information Administration reported a crude inventory build of 3.4 million barrels for the last week of January.PauseUnmuteLoaded: 100.00%Remaining Time -0:40Picture-in-PictureFullscreen This compares with an inventory build of 3.5 million barrels for the previous week and analyst expectations of a 3-million-barrel increase for the week to January 31. In gasoline, the EIA reported an inventory draw of 100,000 barrels for the last week of January. This compared with an increase of 1.2 million barrels for the previous week. Gasoline production in the seven days to January 31 averaged 9.9 million bpd, versus 9.2…

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(PR): Adviser to Prime Minister on Climate Change Malik Amin Aslam has urged the Pakistani companies showing excellence in corporate philanthropy to join hands with the government as partners in the Prime Minister’s Clean and Green Pakistan initiative. He stated this while speaking as being the guest of honour at the 12th Annual CSR Summit and Awards-2020 organized by National Forum for Environment and Health (NFEH). On the occasion, over 60 companies were conferred awards for showing outstanding performance in the arena of Corporate Social Responsibility. Noted singer and Chairman of Pakistan…

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ISLAMABAD, (APP – UrduPoint / Pakistan Point News – 6th Feb, 2020 ) :The overall production of petroleum commodities witnessed a decrease of 12.19 per cent during first five months of the current fiscal year (July-November) as compared to corresponding period of 2018-19. The petroleum products that showed negative growth included Jet Fuel Oil, the production of which decreased by 4.12 percent during the period under review, according to the data placed on official website of Pakistan Bureau of Statistics. Similarly, the production of Kerosene Oil, Motor Spirit Oil, High Speed Diesel, Furnace Oil, Lubricating Oil, Jute…

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ISLAMABAD: The government is working on a new LPG policy through which it aims to slash taxes on imported LPG, marketing and distribution margins while linking locally produced LPG with 90% of Saudi Aramco contract price (CP). The Petroleum Division has further proposed that the state-owned companies must import at least 50% of yearly LPG demand deficit and develop storages. At present, the Oil and Gas Regulatory Authority (Ogra) has been notifying LPG prices since February 2018 based on the matters that producers’ price to be determined monthly is based on…

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KARACHI: Pakistan Petroleum Limited (PPL) plans to export up to 400,000 barrels of crude condensate produced from its Gambat South Block, as the company explores opportunities to grow internationally and become a regional leader in exploration and production, The News has learnt. According to a company document, the PPL aims to export as much as 32,500 barrels/month through a third party contractor. Gambat South is located in District Sanghar, Sindh. The block was granted to PPL in December 2009. Later, the company farmed out 10 percent of its working interest…

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