Petroleum Division-Ministry of Energy, Government of Pakistan

05/09/2026

03/09/2026

𝐊𝐮𝐰𝐚𝐢𝐭𝐢 𝐂𝐨𝐦𝐩𝐚𝐧𝐲 𝐆𝐏𝐗𝐏 𝐊𝐞𝐞𝐧 𝐭𝐨 𝐄𝐱𝐩𝐚𝐧𝐝 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐢𝐧 𝐏𝐚𝐤𝐢𝐬𝐭𝐚𝐧

Federal Minister for Petroleum Ali Pervaiz Malik met with Gulf Petroleum Exploration Pakistan CEO Khaled Al Saati and Mosleh Al Otaibi board member of Gulf Petroleum Exploration.

The Minister welcomed GPXP’s interest in expanding investment in Pakistan’s energy sector and assured full government support and facilitation.

GPXP leadership expressed gratitude for the government’s support and reaffirmed their commitment to expanding investment in Pakistan.

03/09/2026

𝐏𝐞𝐭𝐫𝐨𝐥𝐞𝐮𝐦 𝐏𝐫𝐢𝐜𝐢𝐧𝐠 𝐂𝐨𝐦𝐦𝐢𝐭𝐭𝐞𝐞 𝐡𝐨𝐥𝐝𝐬 𝟕𝐭𝐡 𝐦𝐞𝐞𝐭𝐢𝐧𝐠; 𝐫𝐞𝐬𝐨𝐥𝐯𝐞𝐬 𝐭𝐨 𝐜𝐨𝐧𝐭𝐢𝐧𝐮𝐞 𝐫𝐞𝐟𝐨𝐫𝐦𝐬 𝐭𝐨 𝐞𝐧𝐜𝐨𝐮𝐫𝐚𝐠𝐞 𝐠𝐫𝐞𝐚𝐭𝐞𝐫 𝐜𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐨𝐧 𝐢𝐧 𝐟𝐮𝐞𝐥 𝐬𝐮𝐩𝐩𝐥𝐲 𝐜𝐡𝐚𝐢𝐧

ISLAMABAD, SEPTEMBER 3, 2026:

The Committee on Petroleum Pricing chaired by Federal Minister for Petroleum Ali Pervaiz Malik, met to review the petroleum pricing framework and deliberate on measures to make fuel pricing more transparent, predictable while protecting consumers from undue price volatility.

The Committee agreed on a set of recommendations for strengthening the existing pricing mechanism and decided that its final report would be submitted to the Prime Minister for consideration and approval soon.

For diesel pricing, the Committee approved the guiding principles for possible rules based intervention in case of emergency situation with clearly defined price shock triggers and possible corrective measures.

The Committee also reviewed the recommendations for petrol pricing formula while setting a likely target of June 2027 for deregulation of petrol, ensuring a gradual transition towards competitive market-based pricing while protecting consumers from undue price volatility.

The Committee also reviewed the current IFEM mechanism and agreed to a revised methodology of IFEM calculation. OGRA assured IFEM audit for FY26 would be completed by end of CY26.

The Committee further directed OGRA to submit written recommendations on consolidation & performance of existing OMCs especially in terms of adoption of best practices & latest technologies.

The Committee reviewed the report of sub committees on price stabilization fund benched marked against various successful and failed global models and directed the subgroup to further refine its proposals. The committee however observed that in view of ultimate deregulation of market, maintaining adequate fuel reserves would be more appropriate than establishing a stabilization fund.

The recommendations agreed by the Committee are aimed at bringing greater predictability and transparency in petroleum pricing, ensuring market efficiency and safeguarding consumers against abrupt price movements, while facilitating Pakistan's gradual transition towards deregulation.

Subcommittee headed by Mr Naeem Ghauri would meet with Chairman FBR to assess whether taxation regime needs to be reviewed in light of changing market conditions.

The meeting was attended by other members of the committee including National Coordinator NCMC, Mr Zahid Mir and Mir Naeem Ghauri along with Representatives of OGRA, FBR, Finance Division, KPMG and officials of Petroleum Division.

02/09/2026

Islamabad: Federal Minister for Petroleum Ali Pervaiz Malik met with Maj Gen (R) Zafar Iqbal, Director General, National Explosives and Petroleum Safety Agency (NEPSA). Secretary Petroleum was also in presence.

Minister and Secretary welcomed the DG NEPSA on assuming charge and expressed their full support for strengthening the newly transformed institution, formerly the Department of Explosives.

The Minister highlighted the significant potential under the new framework to further strengthen NEPSA by aligning its regulatory systems with international best practices, enhancing institutional capacity and strengthening human resource.

DG NEPSA expressed his commitment to working closely with the Ministry and benefiting from the Minister’s guidance to further develop and strengthen the institution as a modern and effective regulatory body.

02/09/2026

Islamabad: Federal Minister for Petroleum Ali Pervaiz Malik met with a delegation from Baker Hughes comprising Ms. Asal Nabili, MD, MENAT Region; Mr. Yaqdhan Al Nabhani, Vice President, Integration & Solutions, Oilfield Services & Equipment; and Mr. Jawad Qazi, Country Director, Pakistan.

Minister welcomed the signing of the agreement between OGDC and Baker Hughes, aimed at optimizing existing fields and increasing production volumes from existing assets.

Baker Hughes highlighted its strategic advisory services and expertise in the energy sector. The Minister invited Baker Hughes to participate more broadly across Pakistan’s petroleum sector so that the country can benefit from the company’s global expertise and capabilities.

02/09/2026

Islamabad: Federal Minister for Petroleum Ali Pervaiz Malik met with Mr. Yang Guangyuan, Economic and Minister Counsellor of the Embassy of the People’s Republic of China, and expressed gratitude for China’s longstanding support for Pakistan.

The meeting focused on expanding Pakistan-China cooperation in the refineries, minerals and wider petroleum sector. Discussions also covered the upcoming China Mining Conference and Exhibition in Tianjin, including possible opportunities for interaction with leading minerals-sector associations and companies, as well as Chinese government dignitaries, to further strengthen collaboration and investment.