Oil prices rose on Wednesday, when concerns about the most strict global supply grew after the American threat of definitions of countries that buy Venezuelan crude and a greater decrease than expected in the American crude stock. Brent crude futures rose 49 cents to $ 73.51 a barrel, while US crude in West Texas Intermediate … Read more
Karachi: The oil industry in Pakistan is expected to bear financial losses of 35 billion rupees in the current fiscal year due to the exemption of sales tax on petroleum products that were provided in the Finance Law 2024. Industry estimates indicate that refineries will take losses of 18 billion rupees, while OMCS may face … Read more
The Ministry of Industries and Production has pledged full support for the Pak Suzuki initiative to establish a biological gas factory in Pakistan, with the aim of developing biological gas as a source of renewable energy for industrial and transportation. This step is expected to reduce relying on imported fuel, low carbon emissions, and create … Read more
Oil prices fell on Wednesday after Russia agreed to an American proposal to stop the attacks on the Ukrainian energy infrastructure, which increased the possibility of increasing Russian oil supplies in global markets. Brent crude futures decreased by 0.16 % to $ 69.97 a barrel by 1130 GMT, while crude in West Texas West (WTI) … Read more
The Dubai index fell on Friday, driven by losses in the shares of the heavy real estate sector, as it made the latest tariff threats that US President Donald Trump is tense, while Abu Dhabi made the trend to close. In the latest in a long list of customs tariff threats, Trump said he would … Read more
ARAMCO Saudi Arabia has reduced crude oil prices for Asian buyers for the month of April, which represents the first price decrease in three months. The amendment is in line with the market expectations and follows OPEC+decision to gradually increase oil production, starting this month. According to an official statement, the official sale price (OSP) … Read more
Oil prices remained stable on Thursday, as it recovered a little from the lowest multi -year level, although Brent crude remained less than $ 70 amid pressure from commercial tariffs between the United States, Canada, Mexico and China, in addition to OPEC+ planning to raise production. Brent futures increased 28 cents, or 0.4 %, at … Read more
Oil prices remained stable on Monday, when the markets monitored diplomatic efforts to end the war in Ukraine and waited for clarity in restarting raw exports from northern Iraq. Brent crude rose 13 cents to $ 74.56 a barrel by 1103 GMT, while crude in West Texas Intermediate (WTI) added 11 cents to $ 70.51. … Read more
Islamabad: Consumers did not receive the full benefit from the recent reduction in oil prices, as the government has amended the transportation fees and margins of oil companies, which partially met the relief that was previously announced. These amendments resulted in a loss of 1.42 rupees per liter in relieving gasoline and 0.50 rupees per … Read more
Pakistan exported a record of 189,000 tons of oven oil in January 2025, which represents an increase of 113 % compared to the same month last year and an increase of 47 % from December 2024. This increase comes with the country’s energy sector continues to reduce its dependence on oil The oven is due … Read more