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2023 Archives - OTO Pakistan

02Jun, 23/0 comments

New oil refining policy for existing refineries nears debut

May 25, 2023 ISLAMABAD: Pakistan is set to introduce an oil refining policy for existing refineries, referred to as brownfield sites, within the next week or two, minister for state on petroleum Musadik Malik said on Wednesday. Malik told a group of journalists that the policy is in the final stage and will be offering incentives to encourage them t …

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02Jun, 23/0 comments

New oil refining policy for existing refineries nears debut

ISLAMABAD: Pakistan is set to introduce an oil refining policy for existing refineries, referred to as brownfield sites, within the next week or two, minister for state on petroleum Musadik Malik said on Wednesday. Malik told a group of journalists that the policy is in the final stage and will be offering incentives to encourage them to upgrade th …

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02Jun, 23/0 comments

0.1m tons of Russian oil to arrive in first week of June

ISLAMABAD: The vessels carrying 100,000 tons of discounted Russian oil will arrive at Pakistan ports in the first week of June which is part of the energy security plan of the government. State Minister for Energy, Musadik Malik announced this during an off-camera meeting with mediapersons on new refinery policy, which aims at incentivising the gree …

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27Jun, 22/0 comments

Fruite Day at OTO House

Every fruit is good for you, What are your favourite two? Last Friday, OTO team celebrated Fruits Day making its workspaces more happening and fruitful. #OTO #OTOPakistan #FuelYouCanTrust #Fruits #FruitDay #Energy #HealthyRead more
27Jun, 22/0 comments

Value of Norway government petroleum assets rises, study shows

"A significant rise in the price of oil and gas, among other things as a result of the war in Ukraine, explains much of the increase," the ministry said." OSLO: The value of the Norwegian government's direct investments in oil and natural gas fields is now estimated at 1,584 billion Norwegian crowns ($162 billion), an increase of 540 billion since 2020, the country's industry ministry said on Monday. The estimated value of the assets known as SDFI , was based on a study by consultancy Rystad Energy "A significant rise in the price of oil and gas, among other things as a result of the war in Ukraine , explains much of the increase," the ministry said. Still, the long-term forecasts for gas prices were largely unchanged since 2020, it added. While Norway's petroleum production is operated by commercial oil firms, the state maximises its own revenue by holding minority stakes in dozens of fields, known as SDFI. The government thus earns revenue from the oil and gas in three different ways: taxes on companies' profits, dividend payments from state-controlled Equinor and direct profits from the SDFI stakes.Read more