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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 ...
Its various commercial brands for selling petroleum and gasoline products / fuel included Tydol, Flying A, and Veedol. In 2011, Veedol was sold by British Petroleum to Tidewater India. Now it is part of Andrew Yule and Company's Indian group and manufactures automotive oil for the Indian market on the sub-continent of South Asia.
Oil traders, Houston, 2009 Nominal price of oil from 1861 to 2020 from Our World in Data. The price of oil, or the oil price, generally refers to the spot price of a barrel (159 litres) of benchmark crude oil—a reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent Crude, Dubai Crude, OPEC Reference Basket, Tapis crude, Bonny Light, Urals oil ...
Pakistan State Oil Company Limited is a Pakistani petroleum public company involved in procurement, storage, marketing and distribution of petroleum and related products. [ 3 ] [ 4 ] It has a network of 3,689 petroleum filling stations , out of which 3500 outlets serve the public retail sector and 189 outlets serve wholesale bulk customers.
At its peak during 1986, the field was producing approximately 2,400 barrel of oil per day. It has grown steadily since then, producing both oil and, to a lesser degree, natural gas. [3] Oil production was entirely confined to the Punjab till 1981, when Union Texas Pakistan discovered its first oil-field in Lower Sindh. By 1998-1999, the Lower ...
At its peak during 1986, the field was producing approximately 2,400 barrel of oil per day. It has grown steadily since then, producing both oil and, to a lesser degree, natural gas. [3] Oil production was entirely confined to the Potwar Plateau till 1981, when Union Texas Pakistan subsidiary discovered its first oil-field in Lower Sindh. By ...
The resulting complex, named Pakistani Oil Refinery, commenced operations in 1964. [6] It was inaugurated by Muhammad Ayub Khan, then President of Pakistan. The design capacity of the refinery was 1 million tons of crude oil per annum but was increased to 2.1 million tons per annum later. [4] [3]
Oil & Gas Development Company Limited, commonly known as OGDC, is a Pakistani state-owned oil and gas company headquartered in Islamabad. [2] It is listed on the Pakistan Stock Exchange and the London Stock Exchange. [3] It is the largest company in Pakistan in terms of market capitalisation, [4] and has repeatedly ranked among the Forbes ...