oil
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Govt drops another oil bomb on people | The Express Tribune
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[ad_1] ISLAMABAD: The coalition government on Thursday dropped another oil bomb as it increased the prices by up to Rs18.83 per litre on account of petroleum levy on these products. The new prices will be effective from Friday (today). Earlier, the government had been charging zero petroleum levy and general sales tax on petroleum products…
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Islamabad mulls to procure Russian oil
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[ad_1] The Pakistan government is mulling purchasing oil from Russia at a cheaper rate. Photo: AFP/file ISLAMABAD: In view of the ongoing economic crisis and acute shortage of fuel in the country, the Pakistan government is mulling to procure oil from Russia at a cheaper rate. The Ministry of Energy has asked industrial experts to…
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Oil rises 2% on capacity limits | The Express Tribune
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[ad_1] Oil prices rallied for a third day on Tuesday as major producers Saudi Arabia and the United Arab Emirates looked unlikely to be able to boost output significantly while Western governments agreed to explore ways to cap the price of Russian oil. Brent crude futures climbed $2.90, or 2.5%, to $116.28 a barrel by…
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Transparency in oil and gas sector | The Express Tribune
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[ad_1] ISLAMABAD: Transparency may have many definitions. Its basic meaning is visibility. In applied sense related to governance, it means visibility of operations and decision-making in qualitative and quantitative terms. Transparency means availability of data and information to all stakeholders. Transparency requirements of the government, public sector and regulators are usually much more and stringent…
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PM nod sought for change in oil firm control | The Express Tribune
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[ad_1] ISLAMABAD: The Petroleum Division has sent a summary to Prime Minister Shehbaz Sharif, seeking his endorsement for handing over control of Eni Pakistan Limited to Prime International Oil and Gas Company Limited (PIOGCL). The division sought approval for the change in effective control from Eni Ulx Limited, Eni UK Limited and Eni Oil Holdings…
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Oil prices weaken on demand concerns | The Express Tribune
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[ad_1] NEW YORK: Oil prices fell about $1 a barrel on Thursday in volatile trading as investors weighed the risk that rising interest rates could trigger a recession and cut demand for fuel. Brent crude futures fell 90 cents, or 0.8%, to $110.84 by 1520 GMT. US West Texas Intermediate (WTI) crude futures were down…
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Oil plunges 5% on recession fears
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[ad_1] Oil pump under the blue sky with beam pumping unit in the oil field. -Picture CNBC Hong Kong: Oil prices plunged more than 5% Wednesday as traders grow increasingly worried that demand for the commodity will take a hit from a possible recession caused by a sharp hike in interest rates aimed at reining…
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Oil ticks higher on strong demand | The Express Tribune
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[ad_1] HOUSTON: Oil rose about 1% on Tuesday on high summer fuel demand while supplies remained tight because of sanctions on Russian oil after its invasion of Ukraine. Brent crude rose 68 cents, or 0.6%, to $114.77 a barrel by 1610 GMT. The US West Texas Intermediate (WTI) crude contract for July, which expires on…
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China May oil imports from Russia soar to a record | The Express Tribune
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[ad_1] SINGAPORE: China’s crude oil imports from Russia soared 55% from a year earlier to a record level in May, displacing Saudi Arabia as the top supplier, as refiners cashed in on discounted supplies amid sanctions on Moscow over its invasion of Ukraine. Imports of Russian oil, including supplies pumped via the East Siberia Pacific…
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Venezuelan oil exports to Europe set to resume | The Express Tribune
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[ad_1] ROME: A 650,000-barrel cargo of Venezuela’s oil chartered by Italy’s Eni is about to set sail carrying the first export of crude from the US-sanctioned country to Europe in two years, Refinitiv Eikon data showed on Friday. The US State Department sent letters to Eni and Spain’s Repsol in May authorising them to resume…
