Tag Archives: oil

  Having abundant gas treasury with good standing in the world Pakistan’s gas reserves are rapidly depleting as the country facing acute gas shortage and hardly meet its industry and domestic needs. Gas load shedding has become a routine in major industrial cities of the country. The country’s demand for energy, according to one estimate, is expected to rise at the rate of 10-12 percent annually in the foreseeable future, …

  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 …

  Syed Javed Anwar is a US-Pakistani entrepreneur and a successful businessman. He is the founder and CEO of Midland Energy Inc. and Petroplex Energy Inc. Besides oil, he is also in real estate and other businesses. However, all his other businesses are also related to oil one way or the other. Javed Anwar is also an avid philanthropist. He donates in millions of dollars to universities, schools, churches, mosques …

  Pakistan uses more than dollar 15 billion for very nearly 35 percent of its imports on oil. Trade deficit have the negative effect on the economy. The Economic Monitoring Committee and State Bank of Pakistan have completely failed to decrease import volume of the country. In 2014, total commodity imports were $41.69 billion against exports of $25.15 billion, meaning a trade deficit in commodities of $16.64 billion compared with …