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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 ...
On 1 January 2012, the Nigerian government headed by president Goodluck Ebele Jonathan, tried to cease the subsidy on petrol and deregulate the oil prices by announcing the new price for petrol as US$0.88/litre from the old subsidised price of US$0.406/litre (LAGOS), which in areas distant from Lagos petrol was priced at US$1.25/litre.
Natural gas production is at a relatively high level and remaining reserves are estimated to be about 885.3 billion cu m (1 January 2009 est.). Pakistan's gas fields are only expected to last for about another 20 years at the most due to heavy industrial usage. [10] [11] The Sui gas field is the biggest natural gas field in Pakistan.
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 assets 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]
The State-owned Pakistan State Oil Co. has 3,500 petrol pumps. Where as Cnergyico has 982 petrol pumps, Total Parco Pakistan Ltd. has 800 petrol pumps and Shell Pakistan Ltd. has 766 petrol pumps. [9] In 2023, PSO inaugurated an aircraft re-fueling facility at Skardu International Airport. This move establishes PSO as the only oil marketing ...
While attending the 2024 Gotham Awards, Chloë Sevigny wore a rust-colored minidress from Saint Laurent, of which she recently became a brand ambassador.
Wafi Energy Pakistan Limited, doing business as Shell, is a Pakistani oil marketing company based in Karachi. [ 2 ] [ 3 ] It is a subsidiary of Wafi Energy Holding, a Saudi Arabian oil and gas company. [ 4 ]