Day: November 14, 2025

Petroleum Division, Ogra Directed to Resolve Grid Levy and RLNG Charge Disputes

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OGRA

ISLAMABAD: Minister of State for Finance and Railways Bilal Azhar Kayani has instructed the Petroleum Division and the Oil and Gas Regulatory Authority (Ogra) to urgently address industry concerns over the grid transition levy and retrospective RLNG charges, sources told Business Recorder. The directives were issued during a meeting with a business community delegation representing the Special Investment Facilitation Council (SIFC). Industry representatives argued that the grid transition levy disproportionately penalises high-efficiency Combined Heat and Power (CHP) plants, which operate at 60–80pc efficiency by utilising waste heat in production processes.…

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Pakistan Revives Offshore Energy Push with Award of 23 Exploration Blocks

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New-oil

ISLAMABAD: Pakistan has reactivated its offshore exploration programme with the provisional award of 23 new offshore blocks to public-sector oil and gas companies, led by Mari Energies, under three-year commitments worth approximately $80 million. Mari Energies — a joint venture of Fauji Foundation and the federal government — emerged as the dominant player, securing stakes in all 23 blocks offered in the latest bidding round. The company obtained operatorship in 18 blocks and partnership roles in five, holding 100pc ownership and operatorship in 10 of them, and majority stakes in…

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Fuel Prices Likely to Rise by Up to Rs9.5 — Petrol May See Minor Relief

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petrol-price

ISLAMABAD: Prices of all petroleum products—except petrol—are expected to increase by up to Rs9.50 per litre from Saturday for the fortnight ending Nov 30, driven by slight fluctuations in the international oil market. According to informed sources, the ex-depot price of high-speed diesel (HSD) is projected to rise by around Rs9.50 per litre (3.4pc), while petrol may see a modest reduction of nearly Rs2 per litre (0.7pc). Since June 1, petrol and HSD prices have cumulatively increased by about Rs12.50 and Rs23 per litre, respectively. Kerosene oil and light diesel…

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US-Based Nova Minerals Explores Investment Prospects in Pakistan’s Mining Sector

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Mining-Sector

ISLAMABAD: A leading US-based minerals exploration and development company has shown strong interest in investing in Pakistan’s mineral and mining sectors, signalling potential collaboration in critical and high-value minerals. Nova Minerals — a dual Nasdaq and ASX-listed company specialising in gold, antimony, and critical minerals — sent a delegation led by CEO Christopher Gerteisen to meet Minister for the Board of Investment (BoI) Qaiser Ahmed Sheikh on Thursday. The delegation expressed particular interest in antimony and rare earth minerals and discussed opportunities for technical cooperation, knowledge-sharing, and feasibility studies with…

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Govt’s Second Attempt to Remove K-Electric CEO Fails as Board Meeting Collapses Again

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Moonis-Alvi

ISLAMABAD: The government’s bid to oust K-Electric CEO Moonis Alvi has failed for the second time in 10 days, after another board meeting convened to remove him collapsed due to a walkout by a majority of directors. The meeting, held on Thursday at K-Electric’s head office in Karachi, was called with the same agenda as earlier this month — the removal of the CEO. Unlike the Nov 5 session, the latest meeting met all legal requirements, with nine out of ten directors present, though the federal finance secretary was absent.…

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