oil
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Oil dips but on track for fifth week of gains | The Express Tribune
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[ad_1] NEW YORK: Oil prices edged lower on Friday, but were on track for a fifth straight week of gains as investors were optimistic that healthy demand and supply cuts will keep prices buoyant. Risk appetite in wider financial markets has been fuelled by growing expectations that central banks such as the US Federal Reserve…
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Oil prices up by 2% to 10-week high | The Express Tribune
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[ad_1] NEW YORK: Oil prices jumped about 2% to a 10-week high on Tuesday, boosted by a falling US dollar, hopes for higher demand in the developing world and supply cuts by the world’s biggest oil exporters. Brent futures rose $1.51, or 1.9%, to $79.20 a barrel by 1530 GMT. US West Texas Intermediate (WTI)…
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Potential Pak-Russia oil deal runs into hitches | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan and Russia are unlikely to strike a long-term oil supply deal as talks between the two sides have run into hitches. Sources told The Express Tribune that Pakistan and Russia had agreed that a special purpose vehicle (SPV) would be set up with the specific task of importing oil from Russia. However,…
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Taliban-led Afghanistan starts oil extraction in Qashqari
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[ad_1] Acting Mines and Petroleum Minister Sheikh Shahabuddin Delawar during the inauguration ceremony of the wells. — Tolo News For the first time ever, the Taliban-led Afghanistan on Sunday started extracting oil from the wells of the Qashqari oilfield, according to Anadolu. A statement issued by the Mines and Petroleum Ministry said about 200 tonnes of oil…
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Two new blocks awarded for oil, gas search | The Express Tribune
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[ad_1] KARACHI: The government has provisionally awarded two new blocks to a leading state-owned oil and gas exploration firm in an effort to find fresh large hydrocarbon deposits and reduce reliance on energy imports. Oil and Gas Development Company Limited (OGDCL) reported to the Pakistan Stock Exchange (PSX) that the government had provisionally awarded it…
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Oil falls as rate hike fears offset inventory drop | The Express Tribune
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[ad_1] LONDON: Oil fell on Wednesday, giving up earlier gains, as worries over further interest rate hikes and slowing demand offset support from an industry report showing a larger-than-expected drop in US crude inventories. Benchmark Brent crude prices are down over 15% this year as rising interest rates hit investor appetite, while China’s economic recovery…
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Second shipment of Russian oil arrives | The Express Tribune
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[ad_1] KARACHI: The second cargo ship of Russian crude oil anchored at Karachi Port on Tuesday. According to Express News, vessel – Clyde Nobel Birth – is carrying 56,000 tons of oil. According to port sources, the ship had been berthed at oil pier number 3 and the supply of crude oil from it will…
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Russia rubbishes claims of ‘special’ oil discount | The Express Tribune
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[ad_1] MOSCOW: Russian Energy Minister Nikolay Shulginov has confirmed that oil export to Pakistan had begun on the payment in the currency of a friendly country but stressed that there was no special discount to Islamabad, according to Russian and American media reports. Talking to the media on the sidelines of the International Economic Forum…
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First Russian discounted oil cargo has arrived in Karachi, announces PM Shehbaz
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[ad_1] First Russian vessel Pure Point reaches Karachi port. — Twitter/ @Roohan_Ahmed For the first time in the history, a vessel carrying Russian oil has finally reached Karachi on Sunday, announced Prime Minister Shehbaz Sharif. Taking to twitter, PM Shehbaz wrote, “I have fulfilled another of my promises to the nation. Glad to announce that…
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Russian oil: Will petrol price in Pakistan drop by Rs100 after import?
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[ad_1] A person fills their car’s tank at a fuel station in this undated file image. — AFP After months of hype, Pakistan may finally receive its first shipment of imported Russian oil later this month. But the majority of Pakistanis have one question, will the purportedly cheaper Russian oil reduce the fuel price in…
