China’s crude oil imports from Russia reached a record high in 2024, rising 1% from 2023, while shipments from Saudi Arabia fell 9%, according to data released Monday. Refiners prioritized reduced Russian supplies to cushion weak margins. Data from the General Administration of Customs showed that China imported 108.5 million metric tons of crude from … Read more
New Delhi/Singapore: Chinese and Indian refiners will import more oil from the Middle East, Africa and the Americas, boosting prices and shipping costs, as new US sanctions on Russian producers and ships curb supplies to Moscow’s top customers, traders and analysts said. On Friday, the US Treasury Department imposed sanctions on the two Russian oil … Read more
Gas & Oil Pakistan Limited (GO) has significantly increased its market share in the domestic petrol and high-speed diesel (HSD) segments during the first half of the current financial year, surpassing all other oil marketing companies (OMCs). The data reveals that GO’s combined share in gasoline and HSD sales rose by 6.7 percentage points, to … Read more
KARACHI: The Consulate General of the Republic of Indonesia, in collaboration with key industry stakeholders, successfully hosted the Indonesia-Pakistan Workshop on Palm Oil 2025. This important event honored Pakistan as a strategic partner in global palm oil trade and strengthened joint commitment. To enhance sustainability in this vital sector.The workshop, titled “Promoting Sustainable Palm Oil … Read more
Oil prices remained relatively stable on Thursday, as strong expectations for winter fuel demand were offset by rising US fuel inventories and broader economic concerns. Brent crude futures fell six cents to $76.1 a barrel, while US West Texas Intermediate crude fell five cents to $73.27. Both crudes fell more than 1% on Wednesday due … Read more
Oil prices were broadly flat on Monday in thin trade due to the end-of-year holiday, with traders awaiting more Chinese and US economic data later this week to assess growth in the world’s two largest oil consuming countries. Brent crude futures fell four cents to $74.13 a barrel by 0948 GMT. The most active March … Read more
Prices of ghee and branded cooking oil in Pakistan rose by up to Rs 100 per kg/litre, to Rs 570, despite a global decline in palm oil costs according to a report by dawn. said a retailer dawn The price of branded ghee and cooking oil rose by Rs 80 per kg/litre to Rs 570. … Read more
Oil and Gas Development Corporation Limited (OGDCL) announced on Thursday that the Kunar West 3 well in Sindh has successfully commenced production at a wellhead flow pressure (WHFP) of 1,200 psi with a choke size of 32/64”. According to a filing with the Pakistan Stock Exchange (PSX), the West Kunar field is part of the … Read more
Islamabad: Oil and Gas Development Company Limited (OGDCL), Pakistan’s leading exploration and production company, has successfully revived a heavy oil well in Rajyan Oil Field in Gujjar Khan, Chakwal District, Punjab. This strategic step led to an increase in the field’s cumulative production by 67%, from 1,500 barrels per day to 2,500 barrels per day. … Read more
The Government has completed negotiations with 14 furnace oil-based independent power producers (IPPs) under a “take-and-pay” agreement, with discussions continuing with other IPPs. According to a news report, Prime Minister Shehbaz Sharif announced the gradual closure of old power plants to reduce electricity costs and promote energy efficiency. This step comes within the framework of … Read more