Year: 2021

Petrol price in Pakistan may increase from May 1: sources

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The price of petrol and diesel in Pakistan may increase from May 1, sources told Geo News on Friday.  The price of petrol may increase by Rs5.75 per litre while the price of diesel may increase by Rs6 per litre, said sources.  The Oil and Gas Regulatory Authority (OGRA) has forwarded a summary to the Petroleum Division. In it, the recommended prices have been calculated keeping in mind the current petroleum levy rate.  The current levy on petrol is Rs11.23 per litre while on diesel, it is Rs15.29 per litre.  The final…

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PPL’s profit falls 15% to Rs12 billion

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Pakistan Petroleum Limited’s profit dipped 15% to Rs12 billion in the quarter ended March 31, 2021 on the back of a contraction in sales and fall in other income. According to a notice sent to the Pakistan Stock Exchange on Thursday, the oil and gas exploration and production firm had reported a profit of Rs14.1 billion in the same quarter of last year. Earnings per share of the company amounted to Rs4.42 in the Jan-Mar 2021 quarter compared to Rs5.2 in the same quarter of previous year. During the quarter…

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Pakistan’s weight may remain around 0.02pc in MSCI EM

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Pakistan’s weight is likely to remain around 0.02 percent in MSCI EM in the MSCI May 2021 Semi Annual Index Review, experts said. MSCI will be releasing the results of the MSCI May 2021 Semi-Annual Index Review on May 11, 2021. Announcement is expected to be made available shortly after 11pm Central European Summer Time (CEST), ie, 02am Pakistan Standard Time (PST) on May 12, 2021. All changes will be made as of the close of May 28, 2021. There is some chatter in the market regarding possible inclusion of…

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Govt to merge AEDB and PPIB

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The government has decided to merge the Alternative Energy Development Board (AEDB) and the Private Power and Infrastructure Board (PPIB) for ease of doing business in the power sector. As envisioned by the government under the ease of doing business initiative, work on the merger of AEDB into PPIB is in full swing for processing power projects of all technologies, including alternative and renewable energy projects, at one place. In this regard, Minister for Energy Hammad Azhar was briefed on success stories in the power sector of Pakistan during a…

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S Korea’s LNG demand forecast to rise 15% through 2034: ministry

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South Korea’s energy ministry said April 27 that the country’s LNG demand is expected to rise 15.1% through 2034 on the back of higher LNG demand for bunkering and hydrogen fuel cell cars, as well as a government-led push to reduce power generation by coal and nuclear. The country’s LNG demand is forecast to grow to 47.97 million mt in 2034, compared with this year’s estimated consumption of 41.69 million mt, the Ministry of Trade, Industry and Energy said in its Long-term Natural Gas Supply Plan. LNG demand for power…

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