Year: 2022

Minister of State (Petroleum Division), Ministry of Energy, Musadik Malik visited PSO’s Head Office here. Managing Director and CEO, Pakistan State Oil (PSO), Syed Taha welcomed the guest along with the company’s senior management.The minister was given an overview of the company’s financial and operational performance, milestones achieved and key challenges. The minister acknowledged PSO’s role in reshaping Pakistan’s energy landscape with technological advancements and digitization. Pakistan State Oil continues to set new industry benchmarks and reaffirm its role as the national flag bearer and leader of positive change in…

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Sindh High Court on Monday dismissed a lawsuit filed by a former chief executive officer (CEO) of Hascol Petroleum, seeking injunction against proceedings of the Senate’s Standing Committee on Petroleum over allegations of corruption during his tenure at the company. Plaintiff Saleem Butt, former CEO of HASCOL, and others have challenged the allegations leveled by Pakistan Muslim League (N) Senator Dr Afnanullah Khan in a letter to chairman senate standing committee as well as proceedings of parliamentary committee meeting. Senator Khan had drawn attention of the chairman of the Senate…

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Pakistan’s monthly fuel oil imports are set to hit a four-year high in June, Refinitiv data showed, as the country struggles to buy liquefied natural gas (LNG) for power generation amid a heatwave that is driving demand. The resurgence in residue fuel demand at power plants underscores the energy crisis faced by the South Asian country and slows its efforts to switch to cleaner fuel. Pakistan had cut fuel oil imports since the second half of 2018 as LNG prices were low, but it had to at times switch back…

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The Central Development Working Party (CDWP) has approved a 132KV transmission line from Jiwani to Gwadar. The CDWP meeting was convened under the chairmanship of Secretary Planning Syed Zafar Ali Shah, which approved 13 projects including the 132kV line for Gwadar, worth Rs34.8 billion. As per details, the project namely the Construction of 2nd Circuit Stringing of 132KV, transmission line from Jiwani to Gwadar (94km), will be completed with Rs2,322.940 million. The 2nd Circuit Stringing of 132KV will be financed through the Public Sector Development Programme (PSDP). In the FY…

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While finalising an unprecedented Rs7.90 per unit additional fuel cost adjustment (FCA) for distribution companies (Discos) for next month, the National Electric Power Regulatory Authority (Nepra) noted on Monday that Pakistan was left with no choice but to face loadshedding or generate electricity using expensive fuel oil. At a public hearing on a petition for a Rs7.96 per unit increase in FCA for electricity consumed in May, Chairman Nepra Tauseef H Farooqui, who presided over the event, said though a formal notification would be issued later after verification of evidence,…

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