Author: Admin

Refineries Greenlight \$6bn Upgrade After Govt Clears Rs34bn Dues

Admin
Refineries-Face

ISLAMABAD: Pakistan’s five oil refineries have agreed to proceed with long-awaited upgrade projects worth \$6 billion, following the government’s resolution of their key financial concern—clearance of Rs34 billion in stuck-up funds through adjustments in petroleum pricing. The breakthrough came after a meeting on Tuesday between refinery CEOs and Petroleum Minister Ali Pervaiz Malik, who was praised for his role in resolving the issue that had stalled refinery expansion plans for nearly a year. The CEOs assured the government they would move forward with their investments once the resolution is formalized…

Read More

Ogra Approves 6.6pc Hike in Gas Prices Amid Revenue Gap

Admin
OGRA

ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) on Tuesday approved an average 6.6 per cent increase in prescribed natural gas prices to meet the Rs890 billion revenue requirement of Sui Northern Gas Pipelines Ltd (SNGPL) and Sui Southern Gas Company Ltd (SSGCL) for the fiscal year 2025-26. In its late-night determination sent to the federal government, Ogra set SNGPL’s prescribed price at Rs1,895 per million British thermal unit (mmBtu), marking a Rs117 per unit increase from the current Rs1,778, to cover a projected Rs43 billion revenue shortfall. In contrast,…

Read More

China’s crude oil imports from Russia fall in April; imports from Malaysia surge

Admin
crude oil

China’s imports of crude oil from Russia fell 12.9% in April from a year earlier, coming in at 8.07 million metric tons or 1.96 million barrels per day, Chinese customs data showed on Tuesday. Russian supply to China also declined 5.8% on a monthly basis, down from 2.08 million bpd in March. Imports from Malaysia, the top trans-shipment hub for sanctioned Iranian oil, stood at 7.95 million tons in April, or 1.93 million bpd, down 6.3% from March, but up 96.9% year-on-year. China’s total crude oil imports stood at 48.06…

Read More

WGC-TotalEnergies CEO will propose lifting force majeure on Mozambique LNG project

Admin
totalenergies

BEIJING: TotalEnergies plans to propose to the Mozambique government to lift the force majeure on its liquefied natural gas (LNG) project there and plans to resume construction by mid-summer, CEO Patrick Pouyanne said on Tuesday. TotalEnergies sells 50% stake in Polish biogas company to HitecVision The French energy major is also looking at reducing the capital expenditure of its Papua LNG project by 20%-25%, he told Reuters on the sidelines of the World Gas conference.

Read More

COAS Gen Asim Munir Promoted to Field Marshal Rank

Admin
New-Project23

Islamabad, May 21, 2025 — In a landmark decision, the federal government has promoted Chief of the Army Staff (COAS) General Asim Munir to the rank of Field Marshal, the highest military rank in Pakistan. The promotion was approved during a federal cabinet meeting chaired by Prime Minister Shehbaz Sharif. The cabinet recognized Gen Munir’s pivotal role in ensuring national security and demonstrating exceptional strategic leadership during “Operation Bunyan-um-Marsoos.” The government lauded his “courageous leadership” and “impeccable operational command” that led to the successful defeat of hostile elements and safeguarded…

Read More