Pakistan State Oil (PSO)
Coverage of Pakistan State Oil (PSO) in the Nexus archive.
- Govt finally revamps oil refining policy; what does it mean?
The Pakistani government approved the Brownfield Refining Policy to modernize existing refineries with a $6bn investment, aiming to increase petrol and diesel production while reducing furnace oil output. The policy includes tax incentives, foreign exchange benefits, and energy security measures, requiring refineries to upgrade to Euro-V emission standards.
- Weekly oil pricing mechanism to stay
Pakistan's Petroleum Division assured oil firms that the weekly pricing mechanism would continue, basing future petrol and diesel prices on recent import premiums to minimize losses. Industry leaders criticized frequent policy changes for eroding profitability and deterring foreign investment, while demanding restoration of the pre-war pricing formula.
- Oil industry cries out over unilateral cut in fuel prices
The oil industry in Pakistan protests a unilateral 18–20% fuel price cut by the government, citing estimated losses of Rs105 billion for refineries and marketing companies. Industry executives warn of potential bankruptcy for several OMCs amid policy instability and the exit of foreign firms like Shell and Chevron.