Category: Shortcode

The oil industry has warned the government of supply chain disruption and increase in oil sector’s circular debt if it maintained product rates despite rising international prices. “Based on the critical condition of the industry and increasing trend in POL prices, we urge you to ensure that no further petroleum differential claim (PDC) is imposed on the industry as it will have an unmanageable impact on the cash flows of the industry and may also lead to catastrophic disruption in the POL supply chain,” said the Oil Companies Advisory Council…

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Textile exports in Pakistan are on the rise – 26 percent increase to $9.4 billion in the 1HFY22. The growth in exports has continued in January to $1.55 billion – up by 17 percent YoY as has been indicated by government officials. ATPMA is celebrating this achievement which the commerce minister has attributed to a shift in export orders from India and Bangladesh to Pakistan. It’s heartening to witness this growth, however, this growth in textile exports is not confined to Pakistan only. In fact, the textile exports in Jan…

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 In order to improve overall gas supply situation, SSGC has taken major steps against industries involved in unethical and unfair practices. Governor Sindh Imran Ismail has shown keen interest in resolving this matter by personally intervening in it. SSGC intends to support the businesses but will not in any way tolerate unethical practices. So far, the Company has identified 189 industrial customers who had installed suction boosters and has taken swift action by disconnecting 15 units. The Company has already started reconnecting gas to those units who are adhering to…

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esterday New Englanders had reason to feel a little more … European than usual. that’s because according to Department of Energy data they were paying a spot price of $30.5 per million British thermal units for natural gas.  This is an absurd price, in line with what Europeans, facing their worst energy crisis in a generation, have been suffering in recent months. To put it in context, $30.5 per mmBtu is the equivalent of paying $180 for a barrel of oil (double what it is today), or 20 cents per kilowatt-hour for electricity. In…

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The petroleum products sale registered a growth of 19 per cent on a year-on-year basis to reach 1.80 million tonnes in January 2022, a report issued by Arif Habib Limited showed. On a month-on-month basis, the sales of petroleum products showed a growth of 20 per cent, it added. The growth in sales is attributable to the massive growth in automobile sales resulting in higher demand of motor spirit (MS), along with the reliance of majority of the industries on high speed diesel (HSD) based captive power generation due to…

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