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The Inland Freight Equalization Margin (IFEM) is a regulatory measure implemented in Pakistan to equalize the price of petroleum products across different regions of the country. [ 1 ] [ 2 ] It includes the costs for refineries to transport crude oil from its source to their facilities, as well as the expenses for Oil Marketing Companies (OMCs ...
The reform raised the price to $0.40 US per liter and later reduced the ration to 60 liters per month. The price for over-quota consumption and the imported cars were $0.70 US per liter. The energy price reform included a cash-rebate program through which each person received 455,000 rials ($15 US) per month from the government.
The Largest Gas Producing province of Pakistan is Baluchistan. The Sui gas field is the biggest natural gas field in Pakistan. It is near Sui in Balochistan. The gas field was discovered in the late 1952 and the commercial exploitation of the field began in 1955. Sui gas field accounts for 6% of Pakistan's gas production. [14]
The oil prices were seen rising to hit $71.38 per barrel in March 2021, marking the highest since the beginning of the pandemic in January 2020. [116] The oil price rise followed a missile drone attack on Saudi Arabia's Aramco oil facility by Yemen’s Houthi rebels. [117] The United States said it was committed to defending Saudi Arabia. [118]
In 2004, Pakistan Petroleum was listed on the Karachi Stock Exchange, following an initial public offering at PKR 55 per share. [4] In 2012, Pakistan Petroleum acquired MND operations in Pakistan for $180 million. [5] Later, it was unearthened that Pakistan Petroleum paid twice the market value and this resulted in the loss of PKR 6.21 billion. [6]
Cnergyico owns and operates Pakistan's largest oil refining complex in terms of design capacity of 156,000 barrels per day. Cnergyico alone accounts for 37% of Pakistan's total oil refining capacity of approximately 420,000 barrels per day. The company's oil refining complex is located near the city of Hub in the Balochistan province.
We also anticipate oncology revenue of $1.5 billion, aesthetic sales of $1.1 billion which includes an unfavorable one-time price adjustment due to the reimplementation of the original program ...
The prevailing energy crisis in Pakistan is taking away 2 percent (or Rs 380 billion) of the economy, despite the government has spent Rs 1.1 trillion as subsidies on the sector in the last four-year which accounts for 2.5 percent of the total volume of economy. [50]