Category: Latest News

OGRA Moves to Curb Solvent Mixing in Petroleum Products

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ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has reaffirmed its commitment to eliminating solvent mixing in petroleum products, underscoring that all actions are being taken strictly within its legal mandate under the OGRA Ordinance, 2002. Citing Section 30 of the Ordinance, OGRA stated that all licensees are obligated to provide complete information related to their licensed operations and products. The Authority’s recent data request from Oil Marketing Companies (OMCs) regarding solvent oil is part of a broader crackdown on product misuse, aimed at preventing materials designated for industrial purposes…

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Cnergyico Holds 31st AGM, Reaffirms Commitment to Pakistan’s Energy Security and Growth

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KARACHI: Cnergyico Pk Limited successfully held its 31st Annual General Meeting (AGM) on October 23, 2025, in Karachi, presenting a comprehensive review of its financial and operational performance for FY-2025. The meeting was chaired by Vice Chairman and Director Mr. Usama Qureshi, alongside the Board of Directors and senior management, including CEO and Director Mr. Amir Abbassciy, Director Mr. Aumar Abbassciy, Independent Directors Mr. Sami ul Haq Khilji and Mr. Mushtaq Malik, CFO and VP Finance Mr. Zafar Shahab, and other key executives. Marking its 30th Anniversary, Cnergyico reflected on…

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Pakistan State Oil Posts Rs20.9bn Profit, Announces Rs10 Dividend

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KARACHI: Pakistan State Oil (PSO) has reported a profit-after-tax (PAT) of Rs20.9 billion for the fiscal year 2024–25 and announced a dividend of Rs10 per share, reflecting a 22.5% payout ratio. The announcement was made during the company’s 49th Annual General Meeting (AGM) held on Friday, chaired by Asif Baigmohamed, Chairman of the Board of Management. Syed Taha, Managing Director and CEO, along with senior executives, also attended the session. PSO’s management informed shareholders that the company had expanded its retail network to 3,649 outlets nationwide and achieved notable progress…

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Federal Minister for Energy( Petroleum Division), Ali Pervaiz Malik, met with Hon. Penny Sharpe MLC, Minister for Climate Change, Energy, Environment and Heritage of New South Wales, to explore avenues for enhanced collaboration between Pakistan and Australia in the energy and resources sectors.

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The meeting focused on renewable energy initiatives, particularly solar technology development, and the shared challenges of energy transition. Minister Ali Pervaiz Malik emphasized Pakistan’s commitment to sustainable and green energy solutions, highlighting opportunities for mutually beneficial partnerships and technology exchange, especially in disaster resilience and energy efficiency. Both sides agreed that cooperation in renewable energy and resource management could help address climate challenges while fostering economic growth. The discussion also covered development of Pakistan’s mineral sector and opportunities for Australian companies, large and small, to contribute through investment, expertise, and…

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K-Electric Consumers Burdened with Rs3.23 Per Unit Surcharge for Debt They Didn’t Create

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ISLAMABAD: Consumers of K-Electric (KE) are being billed Rs3.23 per unit under the Debt Servicing Surcharge (DSS) — a levy imposed to repay loans raised by the Power Division to manage the country’s mounting circular debt, even though KE has played no role in creating it, the utility and energy experts have said. The surcharge, applied under the head of Power Holding Limited (PHL), is tied to Rs1.225 trillion borrowed by the federal government from 18 commercial banks to address the growing financial shortfall in the power sector. The measure,…

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