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Ogra proposes decrease in POL prices

Source: The Nation | 30-04-2013

The Oil and Gas Regulatory Authority (OGRA) on Monday sent a summary seeking decrease in the prices of petroleum products to the Petroleum Ministry, a private tv news channel reported.

According to report if the summary is approved the prices of petroleum products will be slashed on May 1. According to the details, the price of petrol will come down by Rs6.52, diesel by Rs4.78, Kerosene oil by Rs5.16 and light diesel by Rs4.3o per litre. The summary will be forwarded by the Petroleum Ministry to the Finance Ministry.

Iran still spending to defend its key Opec role: Minister

Source: The Nation | 07-01-2013

Iran has spent almost $25 billion on upstream oil and gas projects since last March but needs to keep investing to keep its influence in OPEC, Iran’s oil minister said on Sunday. Iranian oil production fell sharply last year, as Western nations tightened sanctions to starve Tehran of funds for its disputed nuclear programme, allowing Iraq ..... Read more

Used vehicles import continues to hit local sale

Source: The Nation | 28-01-2013

Despite government ban on import of used motor vehicles of more than three years, inflow of the second-hand imported vehicles continues to flourish, hitting the local industry, as the domestic cars sales have not attained normalcy after suffering over 30pc decline in July-Dec 2012.“Cars older than five years are still being imported even after is..... Read more

Oil dips in Asia on Fed bond tapering plans

Source: GEO News | 20-06-2013

SINGAPORE: Oil prices slipped in Asia on Thursday after Federal Reserve chairman Ben Bernanke signalled the US central bank would wind down its stimulus programme later this year, analysts said. New York's main contract, light sweet crude for delivery in July, was down 81 cents at $97.43 a barrel on its last day of trading, while Brent North Sea crud..... Read more

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