Global commodities traders accelerate their acquisition of material assets, and benefit from the profits of the historical energy crisis to tighten control of complex supply chains. Trafigura, Vitol, Gunvor and Mercuria have made more than $ 57 billion of net profits since Russia’s 2022 invasion of Ukraine. Now, they spread this criticism in strategic expansion, … 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
The Oil and Gas Regulatory Authority (OGRA) has announced an increase in the prices of the imported liquefied naturally imported LNG (RLNG), which attributes the rise to the high costs of supply and delivery. The revised prices, immediately, will affect consumers for both Northern North Nortern Limited (SNGPL) and Sui Southern Gas (SSGC). For consumers … Read more
Oil prices increased on Tuesday amid concerns about the threats and supply of Russian and Iranian oil, despite the uncertainty about global economic growth due to the new trade tariffs. Brent crude contracts rose 55 cents to 76.42 dollars a barrel by 0717 GMT, while the Western US crude in Texas gained 50 cents to … Read more
The State Bank of Pakistan (SBP) reported that the total money supply in the economy reached 40.09 trillion rupees by November 2024. This represents a modest monthly increase of 0.39% from 39.93 trillion rupees in October and a significant increase year-on-year. By 13.95% compared to 35.18 trillion rupees in November 2023. Breaking down the money … Read more
Islamabad: Road closures imposed by the government to hinder the PTI’s march towards Islamabad have severely disrupted the fuel supply chain, raising the specter of shortages in major cities such as Lahore and Rawalpindi. Petroleum Traders Association Secretary Khawaja Atif warned that petrol stocks in Lahore and other parts of Punjab have started to run … Read more
Indus Motor Company Ltd. announced (INDU), the manufacturer of Toyota vehicles in Pakistan, announced the temporary suspension of operations at its production plant due to ongoing supply chain disruptions and shortages of raw materials and essential components. The suspension will continue from October 29 to October 31, 2024, according to the notification submitted to the … Read more
Representative picture of a gas stove. – AFP/File SNGC MD says gas demand increases three times in winter. Amer Tufail says restrictions on new gas delivery will continue. He says SNGC does not take subsidy from the government. LAHORE: Despite the three-fold increase in gas demand during the winter, SNGC will ensure gas supply during … Read more