Tag: oil
Saudi Arabia lowers oil price to Asia, Europe in June
Saudi Arabia's lowered the price of its Arab Light crude grade to Asia and Europe for the month of June, according to a pricing...
International oil prices slip $2 a barrel
Oil prices slipped $2 a barrel in early Asian trading on Monday, following a second straight weekly decline after world consumers announced plans to...
Pakistan to import 32.7 MBL oil under Saudi Fund programme
Pakistan will import around 32.7 million Barrels (MBL) of crude oil, during the year 2022, under an agreement signed with the Saudi Fund for...
Govt will bear brunt of another Rs23b to maintain on oil prices
The government will bear the brunt of another Rs23 billion as subsidy for the first fortnight of April to maintain the existing petroleum prices...
ECC directs revision of HSD on fortnightly basis
Economic Coordination Committee (ECC) of the cabinet approved a summary presented by Petroleum Division and directed to revise the high speed diesel (HSD) and...
FIA asks banks to do business with OMCs, refineries
The Federal Investigation Agency (FIA) has asked major banks to do business with scrupulous Oil Marketing Companies (OMCs) and refineries after the latter exhibited...
ECC approves additional Rs11.73b supplementary grant to OMCs
The Economic Coordination Committee (ECC) has approved an additional Rs11.73 billion in supplementary grant to oil marketing companies (OMCs) to ensure the uninterrupted supply...
PSO warns of oil crisis as only five-day stocks left
The Pakistan State Oil (PSO) has warned of an immediate crisis of petroleum products in the country due to insufficient imports by several private...
Analysts question tenability of Rs20 subsidy to OMCs amid soaring oil prices
While the Economic Coordination Committee (ECC) of the cabinet approved a Rs20 billion subsidy for oil marketing companies (OMCs) and refineries to ensure the...
Pakistani rupee to stay under pressure amid soaring oil prices
International markets currency turmoil and higher oil prices, mainly necessitated by the Russia-Ukraine conflict, are putting increasing pressure on the Pakistani rupee, which plummeted...