Day: July 21, 2026

Petroleum Minister, KUFPEC Discuss Expanding Energy Cooperation

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Islamabad, July 21, 2026: Federal Minister for Petroleum Ali Pervaiz Malik met with Mr. Tareq Ebrahim, Vice President Operations of Kuwait Foreign Petroleum Exploration Company (KUFPEC), to discuss opportunities for expanding cooperation in Pakistan’s petroleum sector. The Minister described Kuwait as one of Pakistan’s closest friends, highlighting the two countries’ more than 50-year partnership in the energy sector. He reaffirmed the Government’s commitment to further strengthening this longstanding relationship. Mr. Tareq Ebrahim thanked the Minister for his support in facilitating investment opportunities and said KUFPEC sees strong potential for expanding…

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OGRA Approves Export of 160,000 Tonnes of Furnace Oil by Three Refineries

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KARACHI: The Oil and Gas Regulatory Authority (OGRA) has granted approval to three major local refineries to export a combined 160,000 metric tonnes (MT) of surplus furnace oil during the current month, following in-principle clearance from the National Committee on Management of Crises (NCMC). According to separate notifications issued by the regulator, Pakistan Refinery Limited (PRL) has been authorised to export 50,000 MT of furnace oil, Pak-Arab Refinery Limited (PARCO) has received approval to export 60,000 MT, while National Refinery Limited (NRL) has been permitted to export 50,000 MT of…

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Pakistan Buys Spot LNG Cargo at $21.88/MMBtu, Highest Price Since March 2026

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ISLAMABAD: Pakistan has secured another spot liquefied natural gas (LNG) cargo at its highest price since March 2026, as continued disruptions to long-term supplies from QatarEnergy force the country to rely on the expensive spot market. TotalEnergies Gas and Power Limited won a Pakistan LNG Limited (PLL) tender on Monday to supply a 140,000-cubic-metre LNG cargo for delivery on July 27–28, 2026, with a bid of $21.88 per million British thermal units (MMBtu). PLL received only one bid for the tender, submitted by TotalEnergies. The offer was declared technically and…

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Canada Announces Over $47 Million in Assistance, Expands Trade and Energy Cooperation with Pakistan

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ISLAMABAD: Canada has announced more than $47 million in new security and development assistance for Pakistan while reaffirming its commitment to deepen bilateral cooperation in trade, investment, energy, mining, security, and sustainable development. The announcement was made during the one-day official visit of Canadian Foreign Minister Anita Anand to Islamabad—the first visit by a Canadian foreign minister to Pakistan in nearly two decades. Following talks with Deputy Prime Minister and Foreign Minister Ishaq Dar, both countries agreed to strengthen institutional engagement through regular bilateral consultations and closer collaboration between relevant…

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PSO Named Sole Diesel Importer for FY2026-27 as Govt Overhauls Fuel Import Policy

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ISLAMABAD: The federal government has designated Pakistan State Oil (PSO) as the sole importer of high-speed diesel (HSD) for the 2026-27 fiscal year, while imposing new restrictions on petrol imports by private oil marketing companies (OMCs) as part of a broader strategy to safeguard fuel supplies and stabilise domestic petroleum prices. The decisions, approved by the federal cabinet on the recommendation of the Petroleum Division, have been communicated to the Oil and Gas Regulatory Authority (OGRA) through revised policy guidelines aimed at addressing prevailing market conditions and minimising the impact…

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