Author: Admin

ISLAMABAD: Pakistan’s oil refining sector is facing renewed financial pressure as gross refining margins (GRMs) fell to around $11 per barrel in September, well below the five-year average of $13.5 per barrel, amid a sharp rise in crude premiums and worsening furnace oil economics. According to a research report by Sherman Securities, refinery GRMs had averaged around $33 per barrel in August 2026, making the September decline particularly severe. The brokerage attributed the deterioration mainly to a $12–15 per barrel increase in supplier crude premiums for September and October deliveries…

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ISLAMABAD: Pakistan is set to receive a much-needed boost to its LNG supplies after a Qatari cargo successfully crossed the strategically vital Strait of Hormuz amid heightened regional tensions. The LNG carrier Al Marrouna, carrying approximately 81,936 metric tons of LNG from Qatar’s Ras Laffan terminal, transited the Strait of Hormuz on September 7 under Pakistan’s government-to-government LNG arrangement with Qatar. A senior Petroleum Division official said the vessel is expected to reach Port Qasim within two days, where it will berth at the Engro LNG terminal. The arrival is…

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KARACHI: The Sindh Assembly on Tuesday unanimously passed an opposition resolution calling on the federal government to abolish the petroleum levy, citing rising fuel prices and their impact on inflation and the public. The resolution was moved by Jamaat-i-Islami (JI) lawmaker Muhammad Farooq amid the party’s nationwide protests against rising petroleum prices. Responding to the resolution, Sindh Law and Parliamentary Affairs Minister Ziaul Hasan Lanjar said the matter fell within the jurisdiction of the federal government and the provincial assembly could not abolish the levy itself. The resolution was subsequently…

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YIBIN, CHINA: The 2026 World Power Battery Conference opened on September 3 in Yibin, Sichuan Province, bringing together industry leaders, experts and international representatives to discuss the latest developments in power batteries, energy storage, battery recycling and new energy technologies. The conference features a series of thematic sessions covering industry policies, cutting-edge technologies and innovative applications, with a strong focus on strengthening international industrial cooperation and accelerating practical collaboration across the global power battery sector. According to data presented at the event, advances in China’s homegrown battery technologies have significantly…

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ISLAMABAD: Pakistan’s oil industry has opposed reports of another intervention in the petroleum pricing formula, warning that further reductions in allowable margins could disrupt fuel supplies, reduce refinery throughput and push oil marketing companies (OMCs) and refineries into an increasingly unsustainable operating environment. Industry sources said reports of fresh changes to the pricing mechanism were circulating, but neither refineries nor OMCs had been formally consulted by the government. If implemented, the proposed changes would represent what industry officials described as the ninth intervention in the petroleum pricing formula since the…

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