Oil imports from Russia remain pipe-dream

Former prime minister Imran Khan and current Finance Minister Ishaq Dar’s rhetoric to import Russian oil contradict the situation on the ground. The Pakistani oil sector has already made several failed attempts to import oil from Russia. A third-party oil supplier had offered the Pakistani Refinery Limited (PRL) an opportunity to import oil at discounted rates. Despite making concerted efforts,…

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Saudi deferred payment facility: Country imports $100m oil in September


Pakistan imported petroleum products worth $100 million on deferred payment basis under the Saudi oil facility for the seventh consecutive month in September 2022. Official documents revealed the government has budgeted estimates of $800 million for oil imports under the Saudi oil facility. The country has imported petroleum products worth $300 million in the first three months of the current…

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Power Division to submit detailed presentation on power theft to Cabinet

Power Division is to give a detailed presentation to the federal Cabinet on power theft across the country and measures taken to curb the such practice, official sources told Business Recorder. On October 11, 2022, Power Division briefed the federal Cabinet that major international events had resulted in disruption to the global energy supply chains. As a result, global price of…

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Power breakdown incident: Body recommends action against technical teams

The Inquiry Committee on power breakdown of October 13, 2022 has recommended the government to take disciplinary action against the technical teams from Project Delivery South, involved in execution of interim arrangement Asset Management South for lack of O&M activities, sources close to Minister for Power told Business Recorder. Sharing details, sources said, HVDC Converter Station Lahore was importing 1800-MW…

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NPL quarterly profit up 3pc


Nishat Power Limited (NPL) has posted a 3 percent rise in its first-quarter net profit on an increase in its sales. In a statement to the Pakistan Stock Exchange on Friday, the company reported a net profit of Rs943.136 million for the quarter ended September 30, up from Rs915.047 million in the same period the previous year. The company announced…

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