Tags : oil

Oil slips on US growth worries, ample crude supply

Oil Prices Fall as Fed Delays Interest Rate Cut Investors Digest Impact of Fed Decision Oil prices dropped in early trade on Thursday as investors reacted to the US Federal Reserve‘s decision to likely delay a possible interest rate cut to December. Brent and WTI Crude Futures Decline Brent crude futures fell by 23 cents […]Read More

Demand from US and China for oil caused prices to

TOKYO: As fresh worries about declining demand in China and the US weighed on the market, oil prices eased on Monday, reversing their Friday surge. U.S. West Texas Intermediate (WTI) crude futures for December were down 35 cents, or 0.5%, to $76.82, while Brent crude futures for January were down 35 cents, or 0.4%, at […]Read More

Global oil disaster?

Global oil disaster?, On October 19, 1973, immediately following the Nixon administration’s affirmation of a $2.2 billion military aid package to Israel in the aftermath of the Yom Kippur War, Arab states responded by imposing an oil embargo on nations supportive of Israel. The resultant oil price shock was so grave that in the United […]Read More

Pakistan has signed long-term oil purchase agreement with Russia

Pakistan has signed a long-term oil purchase agreement with Russia under which local refineries will buy oil directly. Significant progress has been made in the matter of buying cheap oil from Russia. And Pakistan has entered into a long-term agreement with Russia. Under which local refineries will be able to buy oil directly. Russia also […]Read More

Pakistan to transfer Russian imported oil from Oman

ISLAMABAD: Minister of State for Petroleum Dr. Musadik Malik on Wednesday said the first ship carrying 100,000 tonnes of Russian imported oil will reach Oman on May 27, from where it will be shifted to Pakistan in small ships. Musadik Malik said the ship would anchored at a port in Oman because Pakistani ports can’t […]Read More

UAE and SA cut the most Middle Eastern oil output

RIYADH: Saudi Arabia (SA) led a coordinated production cut by major oil powers on Sunday despite US pressure to pump more crude, saying they were aiming at market stability. Cuts by the Saudis, Iraq, United Arab Emirates (UAE), Kuwait, Algeria and Oman from May to the end of the year will total more than one million […]Read More

Russia ready to help Pakistan in energy, IT sectors: Minister

ISLAMABAD: Russian Minister for Energy Nikolai Shulginov on Thursday said that Russia was keen to help Pakistan in energy, oil, gas, communication and information technology sectors. “Russia is already supplying oil and gas to many other countries”, he said. Talking to state TV, he said “we can also provide skills training to the people of […]Read More

Pakistan sends oil import deal agreement to UAE

ISLAMABAD: Pakistan has sent the draft of Inter-Governmental Agreement (IGA) to the UAE for an official nod from authorities concerned in Abu Dhabi. Once it is approved, negotiation for a commercial agreement for the import of Mogas under GtG mode will start between officials of Pakistan State Oil (PSO) and Abu Dhabi National Oil Company […]Read More

Russia to sell discounted oil to Pakistan: Musadik Malik

ISLAMABAD: In a major achievement for the PMLN-led coalition government, Pakistan has secured a strong commitment from Russia for sale of the crude and other POL products at reduced prices under a government-to-government (G2G) arrangement. A high-powered Russian delegation will visit Islamabad next month to settle modalities and price. Also Read: Russia Oil supply, discussed during Imran Khan’s visit: […]Read More

US Joe Biden heads to Saudi Arabia amid tension on

President US Joe Biden will discuss energy supply, human rights, and security cooperation in Saudi Arabia on Friday on a trip designed to reset the US relationship with a country he once pledged to make a “pariah” on the world stage. Biden will hold meetings with Saudi King Salman bin Abdulaziz and Crown Prince Mohammed […]Read More