Day: May 11, 2026

Islamabad, May 11,2026 Federal Minister for Petroleum Ali Pervaiz Malik chaired a high-level meeting at the Petroleum Division with the CEOs/Managing Directors of the country’s oil refineries to review and accelerate the operationalization of Brownfield Upgradation Refinery Policy. At the outset, the Federal Minister underscored the strategic importance of the refining sector and emphasized that local refineries are critical national assets for ensuring uninterrupted fuel supply and strengthening Pakistan’s energy security. He noted that the ongoing regional situation arising from the US-Iran conflict has further highlighted the urgency of reducing…

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KARACHI: A high-profile Chinese trade delegation, comprising over 50 prominent business leaders and investors, visited the Federation House in Karachi today. The visit, facilitated by Pakistan’s Ambassador to China, Khalil Hashmi, marks one of the most significant industrial and investment missions from China in recent years. Strategic B2B EngagementsThe delegation held intensive Business-to-Business (B2B) meetings with Pakistani entrepreneurs and industrialists. Both sides reached a consensus on the urgent need to strengthen bilateral trade relations through joint ventures and direct investment. The visiting delegation represents a diverse range of key economic…

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ISLAMABAD: The federal government has further increased the burden of petroleum levy on consumers after raising the levy on petrol and high-speed diesel in line with conditions set by the International Monetary Fund. According to sources, the government has increased the petroleum levy on both petrol and high-speed diesel by Rs13.91 per litre. Following the increase, the petroleum levy on petrol has been fixed at Rs117.41 per litre, while the levy on high-speed diesel (HSD) has been set at Rs42.60 per litre. Sources said the levy on petrol was raised…

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KARACHI: The government has increased the price of jet fuel for commercial aircraft, according to aviation sources. Sources said that the price of jet fuel has been raised by Rs53.11 per litre, pushing the new price to Rs441.66 per litre. The significant increase in aviation fuel prices is expected to raise operational costs for airlines, potentially adding further pressure on the aviation sector. Industry sources noted that higher fuel costs could impact airline expenditures and may eventually affect airfares and operational planning for commercial carriers operating in Pakistan.

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ISLAMABAD: Oil and Gas Development Company Limited (OGDCL) has significantly increased domestic oil production in recent months, with output rising from 32,500 barrels per day to 41,000 barrels per day, according to the company’s Managing Director Ahmed Hayat Lak. Speaking about the country’s energy reserves and production capacity, Ahmed Hayat Lak revealed that OGDCL has the capability to further increase oil production beyond 43,000 barrels per day. He stated that before the recent tensions in the Middle East, OGDCL’s nationwide oil production stood at around 32,500 barrels per day. However,…

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