Category: Latest News

ISLAMABAD: The government has revived efforts to implement Pakistan’s long-delayed petroleum refining policy after regional tensions and potential disruptions in the Strait of Hormuz exposed the country’s heavy dependence on imported petroleum products. The renewed urgency follows the escalating US-Iran conflict, which has sharply increased Pakistan’s oil import bill and highlighted vulnerabilities in external fuel supply chains. Officials estimate the country is losing nearly $2 billion annually in foreign exchange due to the import of refined petroleum products instead of processing crude oil domestically. During a recent meeting with refinery…

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ISLAMABAD: Pakistan LNG Limited (PLL) has rejected bids for two spot liquefied natural gas (LNG) cargoes after suppliers quoted unusually high rates, a move expected to save the country between $22 million and $50 million through alternative lower-cost arrangements with Qatar. During a briefing to the Senate Standing Committee on Petroleum, officials informed lawmakers that one LNG cargo was scheduled to arrive at Karachi Port on Tuesday, while another Qatari LNG tanker, Mihzem, carrying 174,000 cubic meters of LNG, was transiting through the Strait of Hormuz toward Port Qasim. Federal…

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ISLAMABAD: The government collected over Rs1.2 trillion from consumers under the petroleum levy during the first nine months of the current fiscal year, while more than Rs35 billion was recovered through the Climate Support Levy (CSL), according to official documents. Records show that petroleum levy collections remained consistently high throughout the fiscal year. The government collected Rs145 billion in July 2025, Rs115 billion in August, Rs111 billion in September, Rs145 billion in October, Rs151 billion in November, Rs157 billion in December, Rs124 billion in January 2026, Rs120 billion in February,…

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ISLAMABAD: The Pakhtunkhwa Energy Development Organisation (PEDO) has challenged the exclusion of two key hydropower projects from the Indicative Generation Capacity Expansion Plan (IGCEP) 2025–35, filing a petition in the Islamabad High Court (IHC) against federal energy authorities. The petition, submitted through Advocate Irfan Muawar Gill, was admitted by the court, which subsequently issued notices to the federal government, the Independent System and Market Operator (ISMO), and the National Electric Power Regulatory Authority (NEPRA). PEDO argued that Pakistan’s power sector planning framework underwent a major constitutional shift in 2021 when…

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Islamabad, May 11,2026 Federal Minister for Petroleum Ali Pervaiz Malik chaired a high-level meeting at the Petroleum Division with the CEOs/Managing Directors of the country’s oil refineries to review and accelerate the operationalization of Brownfield Upgradation Refinery Policy. At the outset, the Federal Minister underscored the strategic importance of the refining sector and emphasized that local refineries are critical national assets for ensuring uninterrupted fuel supply and strengthening Pakistan’s energy security. He noted that the ongoing regional situation arising from the US-Iran conflict has further highlighted the urgency of reducing…

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