Author: Admin

Petroleum Minister Engages Business and Industry Leaders on Energy Security, Investment

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KARACHI, AUGUST 29, 2026: Federal Minister for Petroleum Ali Pervaiz Malik held separate meetings with the leadership of the Overseas Investors Chamber of Commerce and Industry (OICCI) and the management of Pakistan State Oil (PSO) in Karachi on Friday, reviewing key developments in Pakistan’s petroleum sector, energy security, investment opportunities and ongoing reforms. During his visit to OICCI, the Minister met the Chamber’s senior leadership, industry stakeholders and representatives of foreign investors. The meeting was also attended by prominent media representatives, who participated in discussions on developments, reforms and investment…

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Govt pledges energy sector modernisation

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KARACHI: Federal Minister for Petroleum Ali Pervaiz Malik on Friday visited the head office of Pakistan State Oil (PSO), where they explored a coordinated set of measures to safeguard the domestic energy market through proactive international procurement, long-term diversification of supply sources and the strengthening of strategic reserves. Secretary Petroleum Hamed Yaqoob Sheikh and Additional Secretary (Policy) Zafar Abbas accompanied the minister. The delegation was received by PSO Chief Executive Officer Jawwad Ahmed Cheema, together with members of the executive management team. “The visit reflects the government’s commitment to strengthening…

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Pakistan’s Five Refineries Set for $6 Billion Upgrade Push

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Pakistan’s five oil refineries are expected to sign agreements in early September for upgrades that are expected to unlock as much as $6 billion in investment in the country’s refining sector. Representatives of the five refineries, Pak Arab Refinery Limited (PARCO), Pakistan Refinery Limited (PRL), National Refinery Limited (NRL), Cnergyico, and Attock Refinery Limited (ARL), have met with Pakistan’s Federal Minister for Petroleum, Ali Pervaiz Malik, to discuss the so-called Refinery Upgradation Policy, local daily Business Recorder reported on Friday. Executives at all five refineries said they were prepared to sign the…

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Pakistan’s solar boom prompts calls to rethink costly LNG contracts

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Parliamentarians and energy experts have urged the government to reconsider long-term energy contracts that could lock Pakistan into costly take-or-pay obligations and add to circular debt, calling for greater flexibility in LNG and other fuel imports as the country’s rapid solar expansion reshapes energy demand. The calls came during a dialogue titled “The Sun and the Pipeline: Energy Contracts in an Era of Solar Disruption in Pakistan,” organised by the Parliamentary Forum on Energy and Economy in Islamabad. The discussion examined Pakistan’s changing RLNG requirements, global market volatility and geopolitical…

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Peak power is getting pricier

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Pakistan’s power demand is back. The problem is that the cost of serving it has changed dramatically. National grid generation reached 14.5 billion units in July, up 6 percent year on year. On a rolling 12-month basis, however, growth remains modest at 2.8 percent. The stronger monthly number therefore reflects a meaningful pickup in demand rather than a broad-based acceleration in electricity consumption. The shift is most visible in the hourly demand profile. July’s grid demand is now materially above both 2025 and 2024 through much of the day. More…

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