oil

Brownfield Refinery Policy 2023 is to encourage the existing refineries to upgrade, modernise and expand

Oil body urges govt to foster fair pricing formula, protect private sector OMCs

Energy agency lifts 2023 demand growth forecast to 2.4m bpd

OGRA, refineries yet to develop consensus on incremental revenue clause

UBS strategist says supply cuts can go on until Q1 of 2024

Price cut, improved economy fuel increase in demand for petroleum products

Rising tensions in Middle East also threaten to disrupt oil supplies from region

EIA report suggests weekly draw in stocks was in line with estimates

1.5 million plants sown nationwide

Proactive policymaking could have transformed Pakistan’s oil refining sector by 2023

Build in US crude inventories offset expectations of tight crude supply for the rest of the year

US seizes shipment of 980,000 barrels of Iranian oil violating sanctions; vessel pleads guilty, fined $2.5m

Price rises despite strong dollar, economic concerns

Market concerned about global demand growth

Debt deadline coincides with June 4 meeting of OPEC+

International benchmark Brent crude has fallen to around $75 a barrel from a peak of nearly $140

Oil prices fell as market balanced supply fears against renewed economic concerns

Islamabad targets imports of up to 100,000 bpd

Technically, crude has been through an exaggerated liquidation sell-off, Kissler said

Bodies were immediately transferred to the Jinnah Postgraduate Medical Centre for post-mortem

Brent crude futures went down by $1.65 to trade at $81.47 a barrel

Market pressured by Iraq taking steps towards resuming northern oil exports

IMF trims its 2023 global growth outlook, cites impact of higher interest rates

Country’s annual import of edible oil stands at a staggering $4 billion

Oil refineries waiting for three years for approval of new policy

Also exempts Polish energy firm from relinquishing 10% licence area

Govt delegates powers to petroleum ministry to accelerate exploration activities

Rampant Iranian oil smuggling reduces demand for diesel supplies

Investors weigh OPEC+ plans to cut more production

Announced further cuts of 1.16 million bpd from May

It’s real reason of potential default as govt needs dollars for oil imports

Rs5 PDL hike aims at fulfilling another foreign lender’s condition

Oil marketing firms claim losses of billions owing to rupee’s slump

On course for weakest performance since Nov 2022

Oil edges slightly higher as a smaller-than-expected output cut in Russia offsets worries of tight supply

After arbitration case confirmed Baghdad’s consent was needed to ship oil from Turkey

The two companies will be supplied with 690,000 bpd of crude oil

Delay in establishing new SPV company becomes roadblock to oil import

Govt’s inaction stalls solutions as it fears loss of political capital

OMCs seek recovery of exchange rate losses on petroleum imports

Jobs report counters bearish signals from Fed chair

State Dept official backs TAPI, CASA for regional connectivity

On fallout from US bank shutdowns that could reduce future oil demand

Unexpected fall in crude inventories provides support

Wants to settle some of the outstanding dues of oil marketing company

Fed’s Powell opens the door to higher and faster rate hikes

Takes fall as investors await US Fed’s decision

Pakistan, China join hands to increase planting area, crop yield

Moscow agrees to receive payment in rubble, yen and UAE dirham against oil supplies

If approved, Rs356 billion will be collected from consumers from July 1, 2023