Category: oil and gas

ISLAMABAD: Pakistan’s largest exploration and production company, Oil and Gas Development Company Limited, reported an 11% decline in profitability for the first nine months (July–March) of FY2025-26, primarily due to forced production curtailments and weaker global energy prices. The company posted a profit after tax of *Rs115.3 billion, down from Rs129 billion in the same period last year and Rs171 billion in FY2023-24. Net sales also slipped by 3.5% to *Rs300.1 billion, compared to Rs311 billion a year earlier. The Board of Directors approved a *third-quarter dividend of Rs3.25 per…

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ISLAMABAD: Pakistan has witnessed a significant decline in fuel consumption during the first half of April 2026, following the government’s rollout of a strict digital monitoring system aimed at regulating petroleum sales and curbing misuse. According to official data from Pakistan State Oil (PSO), sales of Premier Motor Gasoline (PMG) fell by 14% year-on-year, while High-Speed Diesel (HSD) consumption dropped sharply by 26% during the first 15 days of the month, amid rising fuel prices and tighter oversight. The regulatory push is being led by the Oil and Gas Regulatory…

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SINGAPORE/ISLAMABAD: A Pakistani-flagged oil tanker, Shalamar, has successfully exited the strategically critical Strait of Hormuz carrying crude oil from the United Arab Emirates, according to shipping data from Kpler and LSEG. The Aframax vessel departed the Gulf on Thursday loaded with approximately 440,000 barrels of Abu Dhabi’s Das Blend crude. The cargo was reportedly lifted earlier this week from a terminal operated by Abu Dhabi National Oil Company (ADNOC). Managed by the Pakistan National Shipping Corporation, the tanker is en route to Karachi, where it is expected to offload its…

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The ongoing turmoil in the Middle East has exposed a stark reality: Pakistan’s energy security is perilously dependent on external sources. The ongoing conflict between Iran and the United States, coupled with the blockade of the Strait of Hormuz, has disrupted nearly 80% of Pakistan’s energy imports. Oil prices have surged from $75–80 per barrel to $118, while LNG supply disruptions have left national reserves sufficient for only two weeks. Industries are under severe pressure, exports are threatened, and inflation is escalating. This crisis is a clarion call for Pakistan…

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Global energy markets rely on a network of critical maritime routes that transport oil from producing regions to major consuming economies. While oil is traded globally, it does not move freely across oceans. Instead, much of the world’s supply passes through a small number of narrow maritime chokepoints that serve as vital arteries for international energy trade. In 2023, global oil consumption averaged about 100 million barrels per day. A significant portion of this supply moves through a few highly concentrated routes. The Strait of Hormuz is the most important…

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