Karachi, September 3, 2019: During the month of Aug’19, petroleum sales remained weak due to Eid holidays of four days along with massive increase in local petroleum product prices on account of PKR depreciation and rise in international oil prices. Meanwhile, HSD witnessed a steep decline of 17 percent YoY to 0.41 million tons (lowest…
Islamabad, July 01, 2019: Pakistan is due to begin receiving oil supplies on deferred payments from the Kingdom of Saudi Arabia at the start of the new fiscal year. Pakistan will start receiving monthly oil supplies worth $ 275 million from Saudi Arabia with the effect of July 1, 2019. These supplies will continue over…
Karachi, April 25, 2019: Pakistan National Shipping Corporation (PNSC) has invested a handsome amount of $60 million to purchased two oil-tanker ships to enhance its shipping operations for the purpose of oil imports. According to the official sources, the national flag-carrier acquired two refurbished oil-carrying vessels recently at the cost of $30 million each. The…
Islamabad, April 22, 2019: Abdul Hafeez Shaikh, Adviser to the Prime Minister on Finance, Revenue and Economic Affairs witnessed the signing a trade financing facility amounting to US$ 551 million with the International Islamic Trade Finance Corporation (ITFC), a subsidiary of Islamic Development Bank (IsDB) Group, for imports of oil and LNG. This facility will…