What’s the status of international oil companies in Venezuela after Maduro’s capture?
- 07-Jan-2026
LONDON: Here are key facts about international oil companies in Venezuela, a country with the world’s largest oil reserves thrown into crisis by the capture of President Nicolas Maduro by U.S. forces. In the 2000s, former President Hugo Chávez expropriated assets from several foreign oil companies, strengthening state-owned PDVSA’s control over the country’s oilfields. Today, […]
Govt to empower oil industry to regulate petroleum prices
- 24-Jul-2024
ISLAMABAD: The Pakistan government decided on Wednesday to regulating its responsibility of setting petroleum prices, instead opting to delegate the authority to oil marketing companies, ARY News reported. Prime Minister Shehbaz Sharif has directed the authorities concerned to end its control over price determination, paving the way for a phased transfer of regulating power […]
Oil companies sound alarm on fuel shortage in letter to govt
- 15-Jan-2023
ISLAMABAD: Oil Companies Advisory Council (OCAC) has asked the federal government to immediately intervene to ensure the timely issuance of letters of credit to import petroleum products to avoid a fuel shortage in the country. The Oil Companies Advisory Council (OCAC) wrote a letter on behalf of Oil Marketing Companies (OMCs) and refineries highlighting challenges […]
Oil companies move LHC against FIA action in petrol crisis
- 01-Nov-2021
LAHORE: Oil companies on Monday moved the Lahore High Court (LHC) against Federal Investigation Agency (FIA) action in last year’s petrol crisis, ARY News reported. The lawyer of the oil companies stated that despite the orders of LHC single and double benches, the Federal Investigation Agency (FIA) has registered cases against them and sealed offices. […]
Petroleum crisis: PM hints at suspending licences of oil companies
- 15-Dec-2020
A report of the commission that was formed to investigate the petroleum crisis in the country was presented to Prime Minister Imran Khan
Fuel crisis: OGRA fines three more oil companies
- 29-Jun-2020
It also issued a show-cause notice to the three companies on the matter and directed them to submit a reply within 24 hours.
IHC allows govt to investigate oil companies over fuel shortage
- 26-Jun-2020
Chief Justice Athar Minallah announced an 11-page verdict
Fuel crisis: Committee summons heads of nine more oil companies
- 13-Jun-2020
Widening its investigations into the recent artificial fuel crisis in the country, the probe committee has summoned the heads of nine more oil marketing companies.
Ogra imposes Rs 40 million fine on oil companies over fuel shortage
- 11-Jun-2020
22 enforcement teams of the Ogra visited oil depots of various oil companies and inspected the stocks maintained by them.
Cases registered against oil companies over fuel shortage: Ogra
- 10-Jun-2020
We have proofs of artificial fuel shortage being created by three oil companies, said the Ogra spokesman.