oil
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Govt denies reports of discounted oil deal with Moscow
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A representational image showing crude oil tankers off the shore of Karystos, on the Island of Evia, Greece, May 26, 2022. — Reuters ISLAMABAD: Minister for Petroleum Musadik Malik on Wednesday rubbished the reports suggesting that Pakistan and Russia had…
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Oil rebounds as hurricane threat stabilises markets | The Express Tribune
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LONDON: Oil futures edged up on Monday as the risk of production disruptions from a potential hurricane approaching the US Gulf Coast helped prices steady after last week’s heavy losses. Brent crude was up 16 cents, or 0.23%, to $71.22…
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Data from survey on offshore oil, gas reserves ‘being assessed’
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A view shows the TransOcean Barents drilling rig, at around 120 km off the coast of Beirut, Lebanon in this handout picture obtained by Reuters on August 16, 2023. — Reuters ISLAMABAD: Revealing that data of a geological survey was…
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Pakistan’s oil output drops by 25% in 10 years: PPIS | The Express Tribune
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Listen to article Crude oil production in Pakistan decreased from 94,500 barrels per day in 2015 to 70,500 barrels per day in 2024, according to the Pakistan Petroleum Information Service (PPIS). Gas production also saw a significant decline, dropping by 900 million…
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Oil prices dip as US crude stocks rise | The Express Tribune
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HOUSTON: Oil prices edged lower on Wednesday after US crude inventories rose unexpectedly and as worries that a wider Middle East conflict could threaten production in one of the world’s major regions for crude production eased slightly. Brent crude futures…
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Türkiye to send navy support to Somali waters for oil and gas exploration | The Express Tribune
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ANKARA: Türkiye is set to bolster its naval presence in Somali waters following an agreement between the two nations for Ankara to send an exploration vessel off the coast of Somalia to prospect for oil and gas. President Tayyip Erdogan…
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IEA sees slow growth in oil demand | The Express Tribune
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LONDON: Global oil demand growth will slow to just under a million barrels per day (bpd) this year and next, the International Energy Agency (IEA) said, as Chinese consumption contracted in the second quarter due to economic problems. Global demand…
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Oil, gas exploration sector announces $5 billion investment in Pakistan
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A general view of oil drilling equipment on federal land near Fellows, California, U.S., April 15, 2023. — Reuters ISLAMABAD: Reposing full trust in Prime Minister Shehbaz Sharif-led government’s pro-investor policies, a group of Oil and gas exploration and production…
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OGDCL to boost local oil and gas production | The Express Tribune
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Pakistan’s largest oil and gas exploration firm – Oil and Gas Development Company Limited (OGDCL) – has announced a significant increase in local oil and gas production, told a spokesperson of the state-owned oil and gas company. The company has…
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OPEC+ extends deep oil cuts into 2025 | The Express Tribune
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LONDON/DUBAI: OPEC+ agreed on Sunday to extend most of its deep oil output cuts well into 2025 as the group seeks to shore up the market amid tepid demand growth, high interest rates and rising rival US production. Brent crude…
