Day: October 3, 2026

KARACHI: Sales of Pakistan’s oil marketing companies (OMCs) reached 1.3 million tons in September 2026, declining 2% year-on-year (YoY) but increasing 7% month-on-month (MoM), according to Topline Research. The monthly increase lifted OMC sales during the first quarter of FY27 to 4.1 million tons, representing 6% YoY growth, mainly driven by a sharp increase in furnace oil (FO) sales amid changes in the power generation mix. Excluding furnace oil, OMC sales stood at 1.25 million tons in September, down 8% YoY but up 8% MoM. Ex-FO sales during 1QFY27 totalled…

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BRUSSELS: Group of Seven (G7) countries have agreed to coordinate the release of 100 million barrels of crude oil and diesel from emergency reserves, seeking to ease fuel-market pressures linked to the ongoing Iran conflict. In a joint statement issued on Friday, the G7 said the release would be coordinated through the International Energy Agency (IEA) and would begin immediately, continuing for four months. Members and partner countries will frontload a substantial portion of the diesel release within the first 20 days. The G7 did not specify the precise volumes…

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ISLAMABAD: Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar has directed authorities to take strict and targeted measures to reduce the rising Unaccounted-for Gas (UFG) losses of Sui Southern Gas Company Limited (SSGCL) and improve the company’s operational and financial position. Dar chaired a high-level committee meeting on Friday to review the growing UFG losses of SSGCL, during which officials briefed the committee on the company’s operational challenges, financial impact and increasing distribution losses across its network. The meeting reviewed measures to curb illegal gas connections, upgrade pipeline…

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ISLAMABAD: The Cabinet Committee on Energy (CCOE) has directed the Power Division to engage provincial governments and incorporate their feedback into the operationalisation and implementation of the national Integrated Energy Plan (IEP). The directive came during a recent CCOE meeting, where the forum was informed that the IEP would cover a 10-year action plan within a 33-year planning horizon from 2027 to 2060. The proposed governance framework envisages coordination among federal and provincial stakeholders through an IEP Steering Committee, IEP Secretariat and specialised sub-working groups, with policy oversight from the…

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ISLAMABAD: The federal government has informed the International Monetary Fund (IMF) of its plan to recover more than Rs110 billion in provincial power-sector arrears by deducting the amount from provincial shares under the National Finance Commission (NFC) Award, amid concerns from the lender over the fiscal impact of the move. The proposal was discussed during ongoing IMF talks, where the Fund also questioned whether Pakistan would abandon its uniform electricity tariff policy following the privatisation of power distribution companies. According to sources, the government did not provide a clear response.…

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