Tag: PSO

  • Govt raises petrol price by Rs6.72 to Rs233.91 per litre

    Govt raises petrol price by Rs6.72 to Rs233.91 per litre

    Despite several reports of an expected decrease in prices of petroleum products, the government increased the price of petrol by Rs6.72 per litre and decreased the price of high-speed diesel (HSD) by Rs0.51 and kerosene oil by Rs1.67 per litre.

    The price of light diesel oil (LDO) was raised by Rs0.43 per litre by the government.

    Prior to this, the coalition administration had decreased the cost of petrol and LDO starting on August 1 by Rs3.05 and Rs0.12, respectively.

    However, starting on August 1, 2022, the government had increased the price of HSD by Rs8.95 per litre and kerosene oil by Rs4.62 per litre.

    With the most recent announcement, the price of petrol has gone up from Rs227.19 per litre to Rs233.91 per litre, and that of LDO has gone up to Rs191.75 from Rs191.32 per litre; and that of HSD has gone up to Rs244.95 from Rs244.44.

    Kerosene oil is now available for Rs199.40 per litre as opposed to its earlier price of Rs201.07 per litre.

    The rapid depreciation of the rupee against the dollar had previously also been a significant determinant of oil prices.

    The standing of the rupee against the dollar had improved recently. In spite of this, the cost of gasoline had increased.

    Additionally, there had not been a significant decrease in the cost of diesel, which is widely used in the nation’s transportation and agricultural sectors.

  • Safe to fill up fuel tanks to the max in this heat?

    Safe to fill up fuel tanks to the max in this heat?

    Considering Pakistan’s scorching summer and rising petroleum prices, a claim has been made regarding how much fuel should be topped inside a vehicle.

    According to a viral image being attributed to Pakistan State Oil (PSO), motorists should not fill gasoline to the full capacity of the tank owing to rising temperatures since it may trigger an explosion in the tank. Drivers can fill half of their tank and leave the rest for air.

    Conversely, there has been no official word from the oil company in this regard; however, a similar image went viral years ago when PSO clarified that filling fuel tanks to their full capacity poses no harm to automobiles or passengers.

    The announcement came after a Whatsapp message went viral on the internet in 2018. In view of rising temperatures, the message falsely claimed that PSO had warned the public against filling gasoline tanks to full capacity.

    According to the statement from PSO, the auto-igniting temperature of gasoline is far higher than the peak summer temperatures in Pakistan. Filling a petrol tank to the maximum capacity poses no danger to the automobile or its occupants, and is considered fully safe and advantageous to the vehicle’s operation.

    Read more: CNG prices pushed to Rs140 per kg for sales tax collection

    Also, the idea that filling the vehicle’s gasoline tank to the full capacity will cause an explosion defies scientific logic.

    This is because the auto-ignition temperature for petrol is 495°F (257°C), which is the lowest temperature required to ignite a gas or vapour in air without the presence of a spark or flame. The highest recorded temperature on earth was 56.7°C (134°F), observed on July 10, 1913, at Greenland Ranch, Death Valley, California, USA.

  • Pakistan starts oil and gas production from Dhok Sultan DS X-1

    Pakistan starts oil and gas production from Dhok Sultan DS X-1

    Pakistan’s state-owned natural gas and petroleum products supplier Pakistan Petroleum Limited (PPL) has started production from the recently installed Oil Handling Facilities (OHF) in the Dhok Sultan Block in Punjab province.

    The business claimed in a filing on May 6 that it is the operator of the Dhok Sultan Block and owns 75 per cent of the working interest, while Government Holdings (Private) Limited (GHPL) owns 25 per cent.

    As per the filing, The present production figures from DS X-1 are 5 MMscfd gas, 3000 bbls/day oil, and 25 M.Ton/day LPG. The Dhok Sultan OHF is in charge of oil production, while the Meyal Gas Processing Facilities (MGPF) of Pakistan Oilfields Limited (POL) in District Attock is in charge of gas processing.

    The gas production from this facility will go to Sui Northern Gas Pipelines Limited, while the oil will go to Attock Refinery Limited, according to the business.

    This finding is currently in the Extended Well Testing (EWT) production phase, and the data obtained during this phase will aid in its continued development. Through indigenous hydrocarbon production, the start of production from DS X-1 will contribute to increasing energy security and saving significant foreign cash for the country, according to the company.

    Considering the high demand, Pakistan’s economy is significantly reliant on fossil fuels, with petroleum products and other fuels accounting for a large portion of the country’s import bill.

    Read more: Pakistan’s foreign currency reserves down by $328 million

    Due to its surge in the global market, Pakistan’s oil imports have increased dramatically in recent months. The overall petroleum group’s imports were $14.812 billion in the first nine months of the current fiscal year (2021-22), up from $7.553 billion in the same time in 2021.

  • PML-N’s Miftah Ismail fact-checked by PTI’s Hammad Azhar on load-shedding, Miftah acknowledges

    PML-N’s Miftah Ismail fact-checked by PTI’s Hammad Azhar on load-shedding, Miftah acknowledges

    Miftah Ismail, General Secretary of the Pakistan Muslim League-Nawaz (PML-N) in Sindh, recently took to Twitter, saying that Pakistan State Oil (PSO) has restricted fuel supplies to Independent Power Projects (IPPs), potentially resulting in significant load shedding in the coming week.

    He directly accused Prime Minister (PM) Imran Khan of the impending power outage, writing that it is the result of his incompetence, corruption, falsehoods, and “lust for power: that has gotten the country into such a mess.

    After an hour, Former Energy Minister, Hammad Azhar responded to Ismail’s tweet, calling it “Fake news” and claiming that he had checked with PSO and there had been no such supply cuts notified for IPPs.

    “My statement regarding IK’s corruption (Farah), incompetence (Buzdar), lying (Sh Rasheed) & hunger for power (Suri) is valid,” Ismail responded with a strange tweet to cover up his incorrect finding about PSO.

    It is worth noting that PSO serves a diverse range of customers, including Pakistan’s industrial sector, several power projects, aviation, and maritime sectors. On a daily basis, the company meets the POL needs of millions of clients.

    Apart from selling oil to Pakistan’s power utilities, such as K-Electric and Wapda, PSO is the primary supplier of furnace oil to all IPPs in the country, with a local market share of more than 80 per cent.

  • Petrol, Diesel prices to remain unchanged till April 15

    The government has decided to maintain the existing prices for petroleum products for the fortnight. Petroleum prices will remain unchanged from April 1 to April 15, as per a statement released by the finance division.

    Petrol is currently priced at Rs149.86 per liter, while diesel, kerosene oil, and light diesel are priced at Rs144.15, Rs125.56, and Rs118.31 per liter, respectively.

    Following an increase in global market prices at the time, the government approved a record-breaking Rs12.03 per liter hike for petrol on February 15. Surprisingly, on February 28, the government decreased POL prices by Rs10 per liter, to lessen the impact of existing inflation on the public.

    The Oil and Gas Regulatory Authority (OGRA), on the other hand, has raised the price of liquefied petroleum gas (LPG) by Rs13 per liter.

    Read More: Nisab amount of zakat deduction set at Rs88,927 for 2022

    After an increase of Rs157 per domestic cylinder and Rs606 per commercial cylinder, the prices of domestic and commercial LPG cylinders have been fixed at Rs2,916 and Rs11,220, respectively, for April 2022.

    Conversely, in the aftermath of the Russia-Ukraine conflict, the international market saw massive volatility as crude oil prices reached new highs.

  • Nation-wide petrol strike: List of Petrol stations that are still open today

    Nation-wide petrol strike: List of Petrol stations that are still open today

    The Pakistan Petroleum Dealers Association (PPDA) has launched a nationwide strike today. PPDA is demanding that dealers’ profit margin on petroleum products be increased to six per cent the current three per cent.

    Earlier, the dealers had announced the strike on November 5 but withdrew it after a government delegation held a meeting with them on November 3 to fulfil their demands.

    However, some petrol pumps are opened today. The Pakistani Energy Ministry, which is verified on Twitter, in a tweet mentioned the names of the petrol pumps that are open today. The petrol pumps which are open today include some from HESCO, GO, SHELL and PSO.

    Read more- All petrol pumps will be closed, petroleum dealers announce strike on Nov 25

    Deputy Commissioner Lahore, Umer Sher Chattha in a tweet shared the list of 62 petrol pumps that are opened in Lahore today.

    Earlier this month, the government had announced the rise of up to Rs 8.14 per litre of petroleum products.

  • OGRA proposes slashing petrol, jacking diesel price

    OGRA proposes slashing petrol, jacking diesel price

    Oil and Gas Regulatory Authority (OGRA) has proposed slashing petrol, and increasing diesel prices due to existing tax rates.

    According to reports, the authority has calculated and proposed a two percent increase in diesel prices. It has moved a summary with calculations of petroleum prices on the basis of existing rates of the general sales tax (GST) and petroleum demand. 

    The Ministry of Finance is expected to announce a detailed list of prices of petroleum products based on the import parity (the price that a purchaser pays or can expect to pay for the imported goods). 

    PROPOSED RATES

    OGRA says about Rs2.47 per litre of High-Speed Diesel (HSD) and Rs1.10 per litre in Light Diesel Oil (LDO) should be increased. 

    On the other hand, the regulatory has calculated six paisas and 66 paisas per litre reduction in the price of petrol and kerosene oil respectively. 

    The rate of HSD has been calculated at Rs129.73 per litre instead of Rs127.26, showing an increase of 1.9pc. In addition, light diesel oil (LDO) has been worked out at Rs85.61 per litre instead of the existing rate of Rs84.51, showing an increase of 1.3pc.

    On the contrary, petrol price has been proposed to go down to Rs116.54 per litre from the existing rate of Rs116.60, down 0.1pc.

    The ex-depot price of kerosene has been proposed to be reduced by 0.7pc to Rs98.79 per litre from the existing rate of Rs99.45 per litre.

    The government has already increased GST on all petroleum products by a standard rate of 17pc across the board to generate additional revenues. 

  • Cash-strapped PIA promotes 1,000 officers while even fuel supply remains terminated

    Cash-strapped PIA promotes 1,000 officers while even fuel supply remains terminated

    Pakistan International Airlines (PIA) has promoted 1,000 officers to the next grades amid a halt in flight operations after PSO terminated fuel supply to the national carrier due to the non-payment of impending dues, The News International reported.

    According to the details, out of the total 1,000 crew members, almost 750 have been promoted from group 4 to 5, and 121 from group 5 to 6. Similarly, 84 out of 280 flight pursers working in group 6 have been promoted to group 7 as senior pursers.

    The top management of PIA, mostly on deputation from Pakistan Air Force (PAF) believes the promotions will motivate the already demoralised staff to perform well and get the PIA out of this financial quagmire.

    The reports, however, claim that the management has promoted such a large number of employees from group 4 so that it could get the maximum number of officials out of the PIA unions.

    The employees from group 1 to 4 can become a member of PIA unions because from group 4 onwards ‘officer category’ starts, which restricts them from being a member of the PIA unions.

    Adding to the already piled up problems of PIA, a disturbance in the flight operation at Allama Iqbal International Airport was caused when flights PK-305 (Lahore-Karachi) and PK-652 (Lahore-Islamabad) were canceled due to non-availability of fuel.

    PIA spokesperson Mashood Tajwar has said that the flights were stopped due to non-provision of oil, adding that both national organizations are holding talks to resolve the conflict.