Category: Latest News

Gas Companies Seek 5pc Price Hike Amid Rising Costs and Rupee Depreciation

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OGRA-GAS

ISLAMABAD: Pakistan’s two state-owned gas utilities — Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company (SSGC) — have sought a 5% increase in gas prices for fiscal year 2026, citing rupee depreciation, higher RLNG diversion, and increased repair and maintenance expenses. In their revised estimated revenue requirements (RERR) submitted to the Oil and Gas Regulatory Authority (Ogra), both companies requested a marginal hike in domestic gas tariffs to offset foreign exchange fluctuations and operational pressures. The utilities based their requests on an exchange rate assumption of Rs284…

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PPL Secures Conditional Approval to Explore Balochistan’s Mineral Wealth

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PPL-logo

KARACHI: Pakistan Petroleum Limited (PPL), one of the country’s leading energy companies, has received conditional approval from the Government of Balochistan for an exploration license to search for precious and base metals in the mineral-rich Chagai district. In a notice to the Pakistan Stock Exchange (PSX) on Friday, PPL announced that the provincial government had conditionally approved its application for Exploration License EL-331, covering the exploration of precious and base metal groups and associated minerals in Chagai. PPL stated that the approval marks a major step in its diversification strategy…

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Hybrids Save $27m in Fuel Imports as Over 30,000 Hit Pakistani Roads

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electric-vehicles

KARACHI: Over 30,000 hybrid electric vehicles (HEVs) have entered Pakistan’s roads in the past two years, saving an estimated 30 million litres of fuel and cutting the country’s oil import bill by nearly $27 million, according to Lucky Motor Corporation (LMC) Chief Executive Mohammad Faisal. Faisal said the savings could multiply significantly if hybrids captured 25–30% of the total vehicle market. Pakistan’s auto market averages 180,000–200,000 units annually, and HEVs now account for over half of SUV sales during the first quarter of FY26. Since 2021, 13 new electrified models…

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Ogra to Review 10-Year RLNG Pricing After Court Orders, Rs150bn Dispute at Stake

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OGRA

ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has been compelled to hold a public hearing on November 6 to revise the past 10 years of Regasified Liquefied Natural Gas (RLNG) prices following legal challenges and protests from industrial and CNG consumers. The review, mandated by the Lahore High Court’s Multan Bench, carries an estimated financial impact of around Rs150 billion. The court ruled in September that it was “against principles of fairness” to impose retrospective gas charges without first hearing the affected consumers. As a result, Ogra has invited…

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Wafi Energy Reports Rs3.03bn Profit, Expands Retail Network Across Pakistan

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Wafi Energy

KARACHI: Wafi Energy Pakistan Limited (WEPL) has announced a strong financial performance for the nine months ended September 30, 2025, posting a profit after tax of Rs3.03 billion — more than four times higher than the Rs724 million recorded in the same period last year. The growth reflects the company’s accelerated retail expansion, strategic investments, and strong demand across its fuel and lubricants businesses. According to the company, WEPL commissioned 28 new Shell-branded retail sites, upgraded seven existing locations, and added 12 Shell Select convenience stores nationwide. The company also…

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