oil

Petrol rate may go down by Rs7.7 per litre for 1st half of March

Bolstered by prospects of lower Russian exports

CCOE may allow oil refineries to spend deemed duty on upgrading plants

Saudi energy minister says he remained cautious on Chinese demand forecasts

Pressured by worries that future US rate hikes could weigh on demand

Industry denounces govt for violating approved pricing formula

Govt approves extension keeping in view energy crisis in country

Oil edges higher as market weighs Russian supply cuts amid demand fears

Managing the crude oil import bill to reduce the risk of much wider deficits should be our top priority

Say both seem reluctant to ensure petroleum stocks are maintained

Moscow to reduce production next month in response to new western sanctions

Fears of shortage as company is allowed to open only two LCs for the month

Chinese demand recovers while supply remains limited

The price caps will be implemented on Feb 5

Reaches 1.44 million tonne this January, despite 20% decline compared to Jan 2022

Strong Russian exports offset ME tension, hopes of higher Chinese demand

Loadings from Russia’s Baltic ports are set to rise by 50% this month

Musadik says Pak-Russia to sign low-cost oil accord in March

If industry continues to face problems in opening LCs, this can lead to fuel scarcity

Petroleum Division draws SBP’s attention to problems being faced in opening LCs for import

The surprise build in US crude stocks dampened some optimism around rising Chinese demand and lower Russian supplies

ECC likely to give go-ahead in bid to reach out-of-court settlement

Govt, however, expected to keep prices unchanged by adjusting petroleum levy

Oil companies send letters to finance secretary and SBP, seek intervention

Saudi interested in supporting govt in navigating Pakistan's economic challenges and building a sustainable economy

Govt hopes hydrocarbon production at field will ease gas crisis

Indonesia, Malaysia sign 8 agreements

Forms committee to sell the power plants on fast-track basis to avoid default

A weaker dollar can boost demand for oil as dollar-denominated commodities get cheaper for holders of other currencies

Under 25-year contract, company will invest $150m a year, increase to $540m in 3 years

Surging Covid in China disrupts factory production, weighs on demand

Taxes raised on petroleum, crude oil and aviation turbine fuel

Company resumes operations amid high demand for diesel in wheat sowing season

Deputy PM says it is in talks to up supplies to Azerbaijan, Uzbekistan, Kazakhstan

EU, G7 nations imposed sanctions and a price cap on Russian crude from December 5

11th oil & gas discovery made in the Sinjhoro Block

The Abu Dhabi company is acquiring Mubadala’s entire OMV stake valued at $4.1 billion

Gains capped by snowstorm expected to hit US travel

Beijing relaxes mobility curbs, plans to step up support for economy

Minister says switching building to solar power, crackdown on electricity thieves part of plan

China, India and ME pick up slack left by flagging oil uptake in Europe, East Asia: IEA

Price of petrol and HSD likely to decrease by Rs7.50 and Rs12.37 per litre respectively

PSO facing shortfall of billions of rupees in winter gas purchases

Number of vessels queuing in the Black Sea increased to 20

Concerns about global demand offset bullish effects from oil price cap

A $60 per barrel price cap took effect this week

Level of the cap to be reviewed by EU, G7 every two months

News of growth in US services industry activity caused oil, stocks to pare gains

Oil prices have come under pressure from weak economy

Russian Urals crude traded at around $67 a barrel on Friday