Category: Latest News

Fuel shortage fear grips Pakistan amid Gulf tension and supply limits

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Petrol-Diesel

APPDA urges federal oversight, while OGRA insists fuel stocks remain within regulatory limits and supply curbs are routine stabilisation measures. ISLAMABAD: Concerns over possible petroleum product availability are rising in Pakistan as dealers warn that supply restrictions and quota management by marketing companies may lead to market pressure, particularly amid the volatile security situation in the Gulf region and uncertainty surrounding maritime energy shipments through the Strait of Hormuz. The All Pakistan Petroleum Dealers Association (APPDA) has written to Prime Minister Shehbaz Sharif, urging the federal government to closely monitor fuel…

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Pakistan to take emergency measures on petroleum pricing ‘to keep markets liquid’

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petrol prices

ISLAMABAD: Pakistan is set to take a series of major measures —including weekly petroleum price revision, compensating oil companies for elevated costs of insurance and import premiums, and fuel conservation measures like mandatory work from home — to keep the markets liquid amid the drying out of trade movement following the closure of the Strait of Hormuz. A summary is being submitted to the federal cabinet’s Economic Coordination Committee (ECC) in this regard for action without delay as petroleum prices appeared to surge, informed sources told Dawn. However, even before the ECC takes…

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PARCO Secures Alternative Crude Shipments Amid Strait of Hormuz Disruption

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Parco-board

Karachi: In a strategic move to sustain refinery operations amid ongoing disruptions in the Strait of Hormuz, Pak-Arab Refinery Company (PARCO) has successfully arranged two crude oil cargoes via alternative routes, officials in the Petroleum Division told The News. The new shipments have extended PARCO’s crude stock cover from March 15 to March 25, with each cargo carrying approximately 70,000 barrels. One shipment was sourced from Abu Dhabi National Oil Company (ADNOC) and transported via Fujairah port on the Gulf of Oman, a key oil storage and bunkering hub located…

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Pakistan Requests Alternative Supply Route via Yanbu, Saudi Arabia Assures Full Support

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New-Project91

Federal Minister for Petroleum, Ali Pervaiz Malik, held a meeting with H.E. Nawaf bin Said Al-Malki, Ambassador of the Kingdom of Saudi Arabia to Pakistan. During the meeting, both sides discussed matters of mutual interest and bilateral cooperation. The Federal Minister apprised the Ambassador about the current situation and the implications of the closure of the Strait of Hormuz on global energy markets. He stated that Pakistan is closely monitoring the evolving situation on a daily basis, as the majority of Pakistan’s energy supplies transit through the Strait of Hormuz.…

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LESCO Cracks Down on Electricity Theft: Rs74.9m Fines Imposed, 24 Arrested in February

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New-LESCO

LAHORE: The Lahore Electric Supply Company (LESCO) intensified its efforts against electricity theft in February, arresting 24 individuals, levying fines exceeding Rs74.9 million, and charging over two million units to offenders. According to LESCO headquarters, a total of 1,796 cases of electricity theft were detected across all operational circles during the month. Authorities submitted 1,760 FIR requests to police stations, resulting in 547 formal case registrations and 24 arrests. Enforcement operations also recovered over Rs15.8 million during this period. Circle-wise breakdown revealed that the Central Circle recorded the highest number…

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