Category: Latest News

Forced Exits Loom for Pakistan’s Oil Marketing Sector, Warns Report

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Pakistan’s oil marketing sector could face forced exits and disorderly consolidation if long-standing structural fragmentation is not addressed in time, according to a new report by Dubai-based energy and technology advisory firm Mountain Ventures. In its report titled Pakistan OMCs Review 2025, Mountain Ventures warned that the sector is showing warning signs similar to those once seen in the US airline industry, which suffered from collapsing margins, underinvestment, repeated bankruptcies and eventual forced mergers. “Pakistan’s OMC sector now exhibits the same structural warning signs,” the report noted. Despite having 44…

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OGDCL Makes Major Oil and Gas Discovery in Khyber Pakhtunkhwa

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Oil and Gas Development Company Limited (OGDCL) has announced a significant oil and gas discovery in Khyber Pakhtunkhwa, strengthening Pakistan’s indigenous energy resource base. In a notice to the Pakistan Stock Exchange (PSX) on Thursday, OGDCL said the discovery was made in the Datta Formation at its exploratory well Baragzai X-01 (Slant), located in District Kohat. OGDCL is the operator of the Nashpa Exploration License with a 65% working interest, alongside joint venture partners Pakistan Petroleum Limited (PPL) holding 30% and Government Holdings (Private) Limited (GHPL) with a 5% carried…

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Power Tariff Likely to Be Cut by Rs0.72 per Unit

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ISLAMABAD: Electricity consumers across the country are likely to receive a relief of Rs0.72 per unit in their January bills under the fuel cost adjustment (FCA) for November 2025. The National Electric Power Regulatory Authority (Nepra) on Wednesday conducted a hearing on a request filed by the Central Power Purchasing Agency (CPPA) seeking approval to refund Rs0.72 per unit to consumers. If approved, the adjustment would translate into an overall relief of around Rs5.6 billion. During November, actual power generation costs remained lower, while consumers were billed at comparatively higher…

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Petrol Price Cut by Rs10.28, Diesel Down Rs8.57 for Next Fortnight

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The government on Wednesday announced a significant reduction in petroleum prices for the next fortnight, cutting petrol by Rs10.28 per litre and high-speed diesel (HSD) by Rs8.57 per litre. According to a late-night notification issued by the Petroleum Division, the price revision was made in line with fluctuations in international oil markets and recommendations from the Oil and Gas Regulatory Authority (Ogra). The ex-depot price of petrol has been reduced to Rs253.17 per litre from Rs263.45. Petrol is widely used in private transport, motorcycles, rickshaws and small vehicles, and its…

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Double-Decker Buses Introduced in Karachi; Public Access from January 1

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Karachi witnessed the inauguration of double-decker buses on Wednesday, with Sindh Senior Minister Sharjeel Inam Memon announcing that the buses would be available to the public from January 1. Speaking at the launch, Memon, who also holds the transport portfolio, said, “Today marks the beginning of double-decker bus services in the city. They will be available to the public from tomorrow, and today, they will be tested on the city’s roads.” The buses were inaugurated alongside Sindh Local Government Minister Syed Nasir Hussain Shah, more than a year after the…

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