Category: Latest News

ISLAMABAD: Pakistan has secured another spot liquefied natural gas (LNG) cargo at its highest price since March 2026, as continued disruptions to long-term supplies from QatarEnergy force the country to rely on the expensive spot market. TotalEnergies Gas and Power Limited won a Pakistan LNG Limited (PLL) tender on Monday to supply a 140,000-cubic-metre LNG cargo for delivery on July 27–28, 2026, with a bid of $21.88 per million British thermal units (MMBtu). PLL received only one bid for the tender, submitted by TotalEnergies. The offer was declared technically and…

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ISLAMABAD: Canada has announced more than $47 million in new security and development assistance for Pakistan while reaffirming its commitment to deepen bilateral cooperation in trade, investment, energy, mining, security, and sustainable development. The announcement was made during the one-day official visit of Canadian Foreign Minister Anita Anand to Islamabad—the first visit by a Canadian foreign minister to Pakistan in nearly two decades. Following talks with Deputy Prime Minister and Foreign Minister Ishaq Dar, both countries agreed to strengthen institutional engagement through regular bilateral consultations and closer collaboration between relevant…

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ISLAMABAD: The federal government has designated Pakistan State Oil (PSO) as the sole importer of high-speed diesel (HSD) for the 2026-27 fiscal year, while imposing new restrictions on petrol imports by private oil marketing companies (OMCs) as part of a broader strategy to safeguard fuel supplies and stabilise domestic petroleum prices. The decisions, approved by the federal cabinet on the recommendation of the Petroleum Division, have been communicated to the Oil and Gas Regulatory Authority (OGRA) through revised policy guidelines aimed at addressing prevailing market conditions and minimising the impact…

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KARACHI: The Salt Manufacturers Association of Pakistan (SMAP) has strongly opposed the government’s proposal to introduce daily petroleum price revisions, warning that the move would significantly increase business uncertainty, raise production costs, and place additional pressure on an already struggling industrial sector. In a statement, SMAP Patron-in-Chief Ismail Suttar urged Prime Minister Shehbaz Sharif to review the proposed policy, arguing that daily fluctuations in fuel prices would adversely affect industry, trade, and the broader economy. Suttar said manufacturers are already grappling with soaring electricity and gas tariffs, high taxation, and…

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ISLAMABAD: The government has rolled out a three-pronged strategy to ensure uninterrupted fuel supplies across Pakistan amid escalating geopolitical tensions between the United States and Iran. The plan focuses on increasing refinery output, accelerating petroleum imports, and cracking down on fuel hoarding and stock manipulation by oil marketing companies (OMCs). As part of the enforcement campaign, the Oil and Gas Regulatory Authority (OGRA) has issued show-cause notices to Fazaia Oil, Inam Petroleum, Askar Oil, Shell Pakistan, Attock Petroleum, Hascol Petroleum, Flow Petroleum, and Puma Energy for allegedly violating the mandatory…

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