The petitioner has prayed the court to issue stay orders against enhancement in the prices of petroleum
Specifically, PMS, AGO and DPK sales stood at 1.69 billion, 51.05 million litres and 17.96 million litres respectively, while LPFO and other special petroleum
products sales stood at 8.23 million litres and 150,000 litres respectively.
Earlier, Prime Minister Imran asked former finance minister Asad Umar to take over the portfolio of petroleum
minister during the cabinet reshuffle.
Tampuli said improving the petroleum
quality and distribution systems were critical to the operations in the downstream sector.
'To ensure regular involvement of the provincial representatives in decision making pertaining to petroleum
licenses, the provincial government of Punjab and Sindh are requested to depute well qualified professional possessing the requisite qualification and experience in the relevant field,' said the letter.
Al Kaabi also stressed the importance Qatar Petroleum
places on Pakistan as a promising energy market after the signing of the recent LNG agreement, and the commitment to secure its future energy needs, particularly LNG.
In 2007, Phoenix Petroleum
acquired PGMI which is engaged in the importation and distribution of the Emarat brand of lubricants.
During the hearing, PSO's counsel submitted a report regarding prices of petroleum
products before the bench and said the prices are high owing to management and sales affairs.
About 83 petroleum
agreements were signed in order to start petroleum
and gas exploration with several international companies from various countries, with investments worth at least $15.5bn, and about $1.1bn for the drilling of 356 wells.
The PKR man said PDA has vested in national oil corporation Petronas the entire ownership and the exclusive rights, powers, liberties and privileges to the exploration and exploitation of the country's petroleum
resources, whether onshore or offshore.
Various oil companies have worked hard and established their names throughout the region, competing with each other for better growth, production, and to becoming one of the top petroleum
and oil companies in Pakistan, for the country's prosperous future.