Khalid Mustafa

1 week ago | thenews.com.pk | Khalid Mustafa

ISLAMABAD: The government has managed to divert fourth LNG cargo from ENI – an Italian company – to the international market, which was due in May and endeavours are also under way for the diversion of another cargo due in June, a senior official at the Energy Ministry told The News. Earlier, Pakistan LNG Limited (PLL) diverted three LNG cargoes which were due in February, March and April --all from ENI. “We are also working to divert the LNG cargo which is due in June.

1 week ago | thenews.com.pk | Khalid Mustafa

ISLAMABAD: Pakistan authorities are seriously considering a proposal to import 10 percent of crude oil and petrol from the US to save its exports, which have increased up to $6 billion, a senior official at the Ministry of Energy told The News. The US president has already imposed 29 percent tariffs on Pakistan in addition to the 10 percent baseline tariff. Like other countries, tariffs imposed against Pakistan have been suspended by the Trump administration for 90 days.

1 week ago | thenews.com.pk | Khalid Mustafa

ISLAMABAD: The prices of petroleum products are expected to be revised down from April 16 for the next fortnight, mainly due to a seven per cent slump in international oil prices amid Trump-imposed tariffs, with petrol price likely to be slashed by Rs.8.27 per litre and high speed diesel (HSD) by Rs 6.96 per litre. According to the working, petrol price may dwindle by Rs8.27 per litre, settling at Rs246.36 per litre from existing Rs254.63.

1 week ago | thenews.com.pk | Khalid Mustafa

ISLAMABAD: MariEnergies — one of the main exploration and production companies in Pakistan — has invested $250 million in the Waziristan Block and managed seven gas discoveries, including two tight discoveries. This success will help save $300 million per annum in foreign exchange, a senior official of the company told The News. The company has now successfully drilled another exploratory well Spinwam-1, which has resulted in four discoveries from four different formations.

1 week ago | thenews.com.pk | Khalid Mustafa

ISLAMABAD: The oil industry has submitted its budgetary proposal for the fiscal year 2025-26 with FBR seeking abolishment of super tax, sales tax exemption and final tax regime on exports of petroleum products. In a three-page letter sent to the FBR chairman on April 7, 2025, the Oil Companies Advisory Council (OCAC), asked for the removal of sales tax exemption.