August 23, 2023: Pakistan State Oil (PSO) has achieved remarkable progress and demonstrated resilience in a challenging energy market. During a meeting held at PSO House on August 23, 2023, the company’s Board of Management (BoM) reviewed the group’s performance for the financial year ended June 30, 2023. Despite facing galloping inflation, sluggish market growth,…
KARACHI, March 05, 2021: Pakistan oil reserves (excl. Aminah, Ayesha and Zainab fields) increased by 1 percent (or 9mn barrels) in last six months due to induction of eight new fields. According to Topline, the increase is lower than the production of 13.5mn barrels during the same period. We have excluded Aminah, Ayesha and Zainab…
Karachi, March 02, 2021: Total Petroleum and Lubricant sales clocked-in at 1.40 million tons in Feb’21, depicting a double digit growth of 26 percent YoY while down by 8 percent MoM due to fewer working days in February compared to January. The growth in sales volumes is primarily attributable to i) resilience displayed by the…
Karachi, July 02, 2020: Pak Oil sales for Jun-2020 are likely to increase by 9 percent MoM as economic activities have picked up following government’s easing of COVID-19 related lockdowns. The same is also up 19 percent YoY owing to low prices (reportedly smuggling of petroleum products into Pakistan was also very nominal as price…
Karachi, June 06, 2020: This shortfall in furnace oil is compromising generation capability at K-Electric’s furnace-oil fired 1250 MW Bin Qasim Power Station – 1 (BQPS -1). Rapid rise in temperatures and increased industrial and commercial activities due to the easing lockdown has caused power demand to peak at 3200 MW. While K-Electric is maximizing its…