Oil sales fell by 19 per cent month-on-month and rose 3pc year-on-year to 1.28 million tonnes in December. Sales were up 4pc to eight million tonnes during 1HFY25 compared to 7.68m tonnes in the same period last year. Arif Habib Ltd (AHL) said petroleum products sales rose 2pc to 15.62m tonnes during CY24. Petrol sales fell 15pc month-on-month and 1pc year-on-year to 0.57m tonnes in Decem
MOL Pakistan, an operator and 10 per cent shareholder in Tal Block, Kohat, has finalised the sale of gas from the newly developed Razgir field, which is 65pc owned by the state-owned entities (SOEs), to the first privately owned gas firm — Universal Gas Distribution Company Ltd (UGDCL). This enables the Islamabad-based UGDCL to acquire about 50 million cubic feet per day (mmcfd) gas for its pri
Russian gas exports via Soviet-era pipelines running through Ukraine came to a halt on New Year’s Day, marking the end of decades of Moscow’s dominance over Europe’s energy markets. The gas had kept flowing despite nearly three years of war, but Russia’s gas firm Gazprom said it had stopped at 0500 GMT after Ukraine refused to renew a transit agreement. The widely expected stoppage will not
Representatives of trade and industry appear to be divided over the country’s economic indicators during 2024 as some believe that trading activities remained dismal while others say that one of the salient features of the outgoing year was that “Pakistan has managed to escape a possible default”. Notwithstanding the disputed mandate, regaining political stability was a notable achievement
Pakistan’s merchandise exports slowed for the second consecutive month in December due to a steep fall in international demand, according to data released by the Pakistan Bureau of Statistics on Wednesday. The growth momentum picked pace in July owing to improved orders and stability in the exchange rate. Demand from North America and European countries is anticipated to pick up pace from Janua