Author: Admin

Govt Collects Rs180bn Petroleum Levy in 6 Weeks Amid Regional Tensions

Admin
Petrol-Diesel

ISLAMABAD: The federal government has collected over Rs180 billion from consumers through the Petroleum Development Levy (PDL) in just six weeks, reflecting a sharp surge in revenue amid heightened geopolitical tensions. According to officials in the Ministry of Finance, PDL collections rose significantly during the recent escalation involving the United States and Iran, placing an increased financial burden on petroleum consumers across the country. Cumulatively, from July of the მიმდინარე fiscal year to mid-April, the government has amassed Rs1,234 billion under the levy—around Rs400 billion higher than the same period…

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Hormuz Reopens for Trade as US Maintains Iran Blockade Amid Near Deal

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New-Hormuz

WASHINGTON: US President Donald Trump on Friday declared the Strait of Hormuz “fully open and ready for full passage,” even as Washington continues to enforce a naval blockade targeting Iran until a final agreement is reached. The announcement came shortly after Iranian Foreign Minister Abbas Araqchi confirmed that the vital waterway would remain open for all commercial vessels during the Lebanon ceasefire. However, Iranian officials clarified that military vessels are still barred, underscoring the conditional nature of the reopening. Despite signaling de-escalation in one of the world’s most critical energy…

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Pakistan Faces Widespread Blackouts as LNG Crisis Deepens Amid Middle East Conflict

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ISLAMABAD: Pakistan is bracing for prolonged and widespread power outages as a deepening shortage of liquefied natural gas (LNG), triggered by escalating tensions in the Middle East, severely disrupts electricity generation, according to a report by Bloomberg. The country’s power shortfall surged to around 4,500 megawatts during peak evening hours, accounting for nearly a quarter of total demand, officials said. The crisis has intensified as the Iran–US conflict disrupts regional energy flows and effectively shuts down the critical Strait of Hormuz. Compounding the situation, LNG exports from Qatar—Pakistan’s primary supplier—have…

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Fuel Sales Drop Sharply as Govt Tightens Digital Monitoring of Petrol Pumps

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ISLAMABAD: Pakistan has witnessed a significant decline in fuel consumption during the first half of April 2026, following the government’s rollout of a strict digital monitoring system aimed at regulating petroleum sales and curbing misuse. According to official data from Pakistan State Oil (PSO), sales of Premier Motor Gasoline (PMG) fell by 14% year-on-year, while High-Speed Diesel (HSD) consumption dropped sharply by 26% during the first 15 days of the month, amid rising fuel prices and tighter oversight. The regulatory push is being led by the Oil and Gas Regulatory…

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Pakistani Tanker ‘Shalamar’ Exits Strait of Hormuz with UAE Crude Amid Tightened Security

Admin

SINGAPORE/ISLAMABAD: A Pakistani-flagged oil tanker, Shalamar, has successfully exited the strategically critical Strait of Hormuz carrying crude oil from the United Arab Emirates, according to shipping data from Kpler and LSEG. The Aframax vessel departed the Gulf on Thursday loaded with approximately 440,000 barrels of Abu Dhabi’s Das Blend crude. The cargo was reportedly lifted earlier this week from a terminal operated by Abu Dhabi National Oil Company (ADNOC). Managed by the Pakistan National Shipping Corporation, the tanker is en route to Karachi, where it is expected to offload its…

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