Government to announce latest petroleum policy by month end

News Image

MG News | November 13, 2018 at 03:55 PM GMT+05:00

0:00

November 13, 2018: The government will announce the new petroleum policy in the last week of current month after completing necessary consultations with the provinces.                    

“As per Prime Minister Imran Khan’s vision, the government is working on drafting a petroleum policy. It will be a uniform policy, which will bring major changes in the areas of oil, gas, Liquefied Petroleum Gas (LPG) and Liquefied Natural Gas (LNG)” the sources said on Tuesday.

The new policy and its implementation, they said, were a part of the 100-day agenda announced by the prime minister. The ministry will also award 10 new blocks for exploration in different oil and gas potential areas through open bidding.

With the award of 10 more exploration blocks, they said, the country would witness a remarkable increase in oil and gas exploration activities, which would help meet ever-increasing energy demand.

The blocks would be awarded to successful bidders through a transparent process.

Pakistan has rich oil reserves that would be given attention to and be explored in order to improve local production. Efforts will also be made to improve the local production of refined and crude petroleum products, which currently stand at 15pc while imports make up 85 per cent, they added.

(APP)

Related News

Name Price/Vol %Chg/NChg
KSE100 138,412.25
167.69M
0.32%
447.43
ALLSHR 85,702.96
423.92M
0.15%
131.52
KSE30 42,254.84
82.09M
0.43%
180.24
KMI30 194,109.59
84.37M
0.15%
281.36
KMIALLSHR 56,713.67
217.03M
0.03%
16.37
BKTi 37,831.34
13.04M
1.62%
603.62
OGTi 27,440.63
3.93M
-0.09%
-23.70
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 119,310.00 119,310.00
117,905.00
1690.00
1.44%
BRENT CRUDE 72.31 72.82
72.29
-0.93
-1.27%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
2.20
2.33%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50
-0.30
-0.29%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 69.93 70.41
69.91
-0.07
-0.10%
SUGAR #11 WORLD 16.46 16.58
16.37
-0.13
-0.78%

Chart of the Day


Latest News
July 31, 2025 at 09:12 AM GMT+05:00

MG Morning Breeze: Updates to Skim before Market


July 30, 2025 at 09:36 PM GMT+05:00

Pakistan advances into the era of digital economy


July 30, 2025 at 05:54 PM GMT+05:00

Pakistan BCI decreased by 1.2 points in July



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg