ISLAMABAD: Sui Northern Gas Pipelines Limited (SNGPL) has called on the Petroleum Division for urgent support to finalise a gas cost equalisation arrangement with Sui Southern Gas Company Limited (SSGC) and to include the full financing cost of short-term RLNG borrowings in the RLNG price structure to ensure cost recovery. In a letter to the Director General (Gas) at the…
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KARACHI: Pakistan State Oil Company Limited (PSO) has partnered with Dun & Bradstreet Pakistan (D&B) to enhance its supplier risk management through advanced data-driven insights. This collaboration leverages D&B’s expertise to empower PSO with robust risk analytics and supplier network visibility. The partnership enables PSO to perform real-time risk assessments, conduct thorough due diligence, and monitor key business indicators. By…
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Karachi, October 24, 2024: Pakistan State Oil (PSO), Pakistan’s leading energy company, held its 48th Annual General Meeting (AGM) in Karachi, led by Chairman Mr. Asif Baigmohamed. Managing Director & CEO Syed Taha, board members, and senior management attended the session. PSO reported robust financial performance for FY24, with a gross revenue of PKR 3.8 trillion and a profit after…
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The federal government has approved Pakistan State Oil (PSO) to make a per litre exchange rate adjustment of Rs1.34 on petrol and 26 paisa on high-speed diesel (HSD) for the fortnight starting April 16, 2024. According to documents obtained by Business Recorder, this adjustment marks an increase of Rs1.01 per litre for petrol compared to the previous fortnight, while HSD…
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Pakistan State Oil (PSO) has raised concerns about the escalating circular debt in the energy supply chain, particularly in liquefied natural gas (LNG) sales, warning of potential disruptions if outstanding dues are not addressed promptly. In a letter addressed to the managing director of Sui Northern Gas Pipelines Limited (SNGPL), PSO highlighted the critical issue of increasing outstanding payments for…
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Pakistan State Oil (PSO) has reached out to the Power Division seeking assistance in recovering a long-pending amount of Rs30.8 billion from Hub Power Company (Hubco), according to reliable sources. The outstanding amount pertains to Residual Fuel Oil (RFO) supplies made by PSO to Hubco over a considerable period. As of February 26, 2024, the total outstanding amount, including Late…
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Pakistan State Oil (PSO) has initiated talks with Chinese energy giant Sinopec to join hands with Saudi Arabia’s Aramco in establishing a cutting-edge refinery and petrochemical complex in Pakistan. The government is considering incorporating the $10 billion Saudi Aramco refinery project into the framework of the China-Pakistan Economic Corridor (CPEC). In a letter addressed to Sinopec’s President Yu Baocai, PSO’s…
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In a landmark achievement, the signing ceremony of MoU between the Stakeholders on Consortium Formation for Machike-Thallian-Tarujabba White Oil Pipeline Project has been held on February 14,2024 at SIFC Secretariat, PM Office. The ceremony was witnessed by Minister for Power and Petroleum Muhammad Ali, Secretary (Petroleum Division) Momin Agha, Secretary SIFC Jameel Qureshi. The heads of consortium entities i.e. MD…
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KARACHI: A group of oil marketing companies is opposing a government decision to give Pakistan State Oil (PSO), the country’s largest fuel supplier, the sole right to import high-speed diesel (HSD). The move would create a monopoly for the state-owned PSO and hurt the competitiveness and innovation of the oil sector, the Oil Marketing Association of Pakistan (OMAP), which represents…
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ISLAMABAD: The petrol price is estimated to decline by about Rs9-10 per litre on Jan 15 for the next fortnight due to a combination of lower international prices, exchange rate gains and a decline in premium. High-speed diesel (HSD) is also expected to be cheaper by around Rs2 per litre. Informed sources said the prices of all petroleum products had…
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