oil

Consumers around the world may face higher fuel prices in winter

Decision to hold Dec 4 meeting virtually signals little likelihood of policy change

Diesel rate should have been cut by Rs11.95 per litre, but govt did not revise it

Pakistan planned on importing Russian oil in line with the price cap set by the US

Energy firms will make minimum investment of $65m in first three years

Islamabad to enter import deal on terms similar to those agreed by New Delhi

Weakened demand out of China could reduce oil output

Says delay may trigger shortage, price hike of edible oil, chicken and milk

Both countries hope to get out of oil importing commitments penalty-free

Lawmakers hope new military leadership will deal with the challenges facing the country amicably

Thin forex reserves hamper move amid warning diesel stocks may dry up

Refineries in Pakistan have expressed their willingness to produce petroleum products from Russian crude oil

Production costs are estimated at around $20 per barrel

Output increase of 500,000 barrels per day was under discussion for next OPEC meeting

Public gas utility projects revenue shortfall of Rs184.88 billion

In case of shortfall, country may have to import large quantities of expensive diesel

OCAC says industry will not survive if unfair adjustments are not removed immediately

Official says govt may adjust taxes on petroleum products

Virus cases dash hopes of China’s economy reopening

Yellen says price cap will still drive global oil prices lower while curbing Russia’s revenues

Govt’s involvement in LNG business caused circular debt to balloon to alarming levels

US oil production rises to 12.1 million bpd, Covid-19 cases in China hurt fuel demand

IEA head surprised by OPEC+ decision to cut output

Saudi authorities expected to invest in state-of-the-art deep conversion refinery along with a petrochemical complex

Decision aims to limit Moscow’s ability to regulate global oil market

Dependence on expensive LNG continues to trap utilities

Brent crude futures rise for a weekly gain of about 2.5%

Supply seen tightening in coming months

Last liquefied petroleum gas policy was formulated in 2015

Alliance keen to provide world with oil supply it needs

Pricey imports of energy products expose millions to back-breaking inflation

Says aggressive exploration strategies resulted in hydrocarbon discoveries

Plant will have oil processing capacity of 8 million tons

Biden said his aim would be to replenish stocks when US crude is around $70 a barrel

Up to 80-90% of Russian oil will continue to flow outside the cap mechanism

Hopes of stronger Chinese demand, weakening US dollar

Minister shrugs off concerns over external financing needs in FY23

Saudis said that if the US wanted more oil on the markets, it should start producing more of its own

Says G7 move may in fact cause prices to rise

Prices have tumbled in past two weeks on recession concerns

Ex-PM says he would’ve cancelled the trip if he knew Ukraine war would start

Petrol price may go up by Rs3.29 per litre as global crude rates increase

Supply concerns at forefront for energy markets that have seen prices soar

Traders expect China’s fuel demand to recover as lockdowns eased

Says subsidy piling pressure on current account, foreign currency reserves

Funds will be paid to oil firms to cover price differential claims for May

A pending EU ban on oil from Russia, a key supplier, is anticipated to further tighten global supplies

Shehbaz to request leadership for raising volume by $100m per month to ease pressure on forex reserves

It will ease financial woes of oil marketing firm as its receivables soar to Rs456b

OPEC+ sticks to existing deal for May output