Ogra issues 155 licenses for establishment of Liquefied Petroleum Gas (LPG) outlets The Oil and Gas Regulatory Authority (Ogra) has issued 155 licenses for establishment of Liquefied Petroleum Gas (LPG) outlets of which seven have become operational. At present seven LPG Auto Refueling Stations are operational out of which one such facility is established at a CNG station to whom marketing license was granted in December 2015. Industry sources …

  From 2010 until June 2014, world oil prices had been stable, at around $110 a barrel and since June 2014 prices have more than halved. Brent crude oil has now dipped below $50 a barrel for the first time since May 2009 and US crude is also below $48 a barrel. Oil just like any other commodity is regulated by rules of demand and supply. But there is one …

  Country has massive deposits of shale gas and oil Oil and gas companies involved in the exploration and production have somewhat lessened their activities in Pakistan. Nevertheless the existing companies have no desire of liquidating their business. Throughout the world the exploration and production companies are facing the same state of affairs as there is the reduction in the petroleum products prices and Pakistan is no different from others. …

  Pakistan since its emergence, still has no strategy on strategic fuel storages. Strategic reserves are enduringly held for non commercial causes, which are utilized to offer safeguard against external blockades in times of war. The fuel reserves also provide safeguard against the internal impediments like flood and disasters. And in case of oil industry disruptions due to refineries’ outages and pipeline break downs, the strategic reserves are not used …

  Interview with Mr. Mumtaz Hasan Khan – Chairman & CEO, Hascol Petroleum Limited Profile Mumtaz Hasan Khan Chairman and CEO of Hascol Petroleum Limited has over 50 years of experience in the oil industry. He started his working life in Burmah Shell Oil Storage and Distribution Company in May 1963 and worked there till January 1976, where his last assignment was International Sales Manager. From February 1976 to July …

  Govt should invest more in indigenous exploration and production Interview with Raziuddin Razi – CEO, Khyber Pakhtunkhwa Oil & Gas Company   Profile Raziuddin Razi, who is the Chief Executive Officer of Khyber Pakhtunkhwa Oil & Gas Company Limited (KPOGCL) for one and half years having a vast experience and worked in both international and domestic energy sectors. Raziuddin, who did his MSC and MBA from Michigan and New …

  The continuously declining oil prices internationally mostly helping Pakistan in reducing its oil import bill that recently witnessed a decline of 7.83 percent during first half of July-December of the current financial year over the corresponding period last year. Pakistan’s oil import bill has recorded at $6.95 billion during July-December of fiscal year 2015-16 as compared to $7.54 billion of the same period of previous year fiscal year showing …

  Petroleum products were the top revenue contributor of domestic sales tax, contributing around 44 percent (or Rs233.2 billion) to the total proceeds during 2014-15. Sales tax collection was concentrated in few commodities as 10 major items, including POL (petrol, oil and lubricants) and natural gas, shared 73 percent of the total domestic sales tax. All the major 10 items posted positive growth except natural gas and fertilizer. The collection …

  Overcoming the energy problems in Pakistan is still top priority of the Government of Pakistan. The government is intended to complete its commitments realizing the fact that good governance and regulation would contribute to an affordable, sustainable and reliable power system. World average per capita energy consumption is 2,730 kWh as against to Pakistan’s per capita energy consumption of 451 kWh. International Energy Agency has predicted that total electricity …

  Presently solar energy is getting popular in the entire world and its use can enhance by 40 percent in next 5-year. Experts analyzed that Pakistan is best placed to utilize solar energy in meeting energy shortfalls, balance energy mix and decline reliance of imported fuel. The nation require similar zeal as expressed in attaining nuclear energy as domestic oil & gas extraction has not progressed while pace of progress …