oil
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India’s Russian oil benefit slashed by US tariffs
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[ad_1] US President Donald Trump and India’s Prime Minister Narendra Modi talk as they arrive for a joint news conference after bilateral talks at Hyderabad House in New Delhi, India, February 25, 2020. — Reuters New US tariffs on Russian oil, effective Wednesday, are expected to erase the financial benefits India reaped from discounted imports…
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Oil prices fall as Israel accepts ceasefire plan
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[ad_1] Oil tankers pass through the Strait of Hormuz, December 21, 2018. — Reuters TOKYO: Oil prices plunged over 5% on Tuesday after Israel accepted US President Donald Trump’s proposal for a bilateral ceasefire with Iran. The development calmed investor nerves following nearly two weeks of conflict, lifting sentiment across Asian stock markets. European bourses…
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OPEC+ decides to maintain elevated oil production in June
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[ad_1] Pumpjacks are seen during sunset at the Daqing oil field in Heilongjiang province, China August 22, 2019. — Reuters LONDON/DUBAI: Despite falling prices and expectations of weaker demand, OPEC+ has agreed to accelerate oil production hikes for a second consecutive month, raising output in June by 411,000 barrels per day, the group said on…
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Pakistan mulls ‘US oil imports’ | The Express Tribune
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[ad_1] KARACHI: Pakistan is considering importing crude oil from the United States for the first time to offset a trade imbalance that triggered higher US tariffs, according to a government source directly involved with the proposal and a refinery executive. Countries are scrambling to find ways to lower their US tariff burdens, including buying more…
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Trump set to impose oil tariffs on Feb 18, may reduce duty on Canadian crude
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[ad_1] Flue gas and steam rise out of chimneys and smokestacks of an oil refinery during sunset on a frosty day in the Siberian city of Omsk, Russia, February 8, 2023. — Reuters WASHINGTON: US President Donald Trump has announced that his administration plans to impose tariffs on oil and gas imports starting around 18…
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Govt denies reports of discounted oil deal with Moscow
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[ad_1] 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 reached an agreement for the supply of discounted crude oil. Speaking to reporters, Malik…
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Oil rebounds as hurricane threat stabilises markets | The Express Tribune
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[ad_1] 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 a barrel at 1315 GMT while West Texas Intermediate crude futures were 19 cents,…
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Data from survey on offshore oil, gas reserves ‘being assessed’
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[ad_1] 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 being assessed, Petroleum Division sources told Geo News on Saturday that the discovery of…
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Pakistan’s oil output drops by 25% in 10 years: PPIS | The Express Tribune
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[ad_1] 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 cubic feet per day (MMCFD) over the same period. In 2015, Pakistan’s daily gas…
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Oil prices dip as US crude stocks rise | The Express Tribune
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[ad_1] 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 slipped 41 cents, or 0.5%, to $80.28 a barrel by 1436 GMT. US West…
