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In a sharp market downturn, crude oil prices tumbled to their lowest levels since the 2021 pandemic. The steep drop was triggered by rising tensions in the global trade war, especially between the United States and China, sparking fears of economic slowdown and reduced demand. China’s Tariff Response Sparks Global Shockwaves On Friday, oil markets …
Continue reading “Oil Prices Plunge to Pandemic-Era Lows Amid Global Trade War Fears”
The government has lowered the petrol price by Rs1 per litre and high-speed diesel (HSD) by Rs4 per litre for the next two weeks. These fuel price cuts, announced by the Finance Division on Saturday, come as the Oil and Gas Regulatory Authority adjusted prices due to fluctuations in the international oil market. New Fuel …
Continue reading “Govt Reduces Petrol Price by Rs1, Diesel by Rs4”
Pakistan has signed a major agreement with the Saudi Fund for Development (SFD) to defer a $1.2 billion oil payment for one year. This deal will provide much-needed relief to the country’s economy by ensuring a steady oil supply while easing immediate financial pressure. Prime Minister Shehbaz Sharif and SFD Chief Executive Officer Sultan Abdulrahman …
Continue reading “Pakistan Secures $1.2 Billion Oil Payment from Saudi Arabia”
Islamabad: The prices of petroleum products in Pakistan are set to increase by up to Rs6.20 per litre for the upcoming fortnight, beginning January 16, due to a rise in international crude oil prices. Market sources suggest that the ex-depot price of petrol will increase by Rs3.53 per litre. Kerosene oil and light diesel oil are …
Continue reading “Petroleum Prices to Increase by Rs6.20/Litre from Jan 16”
Oil prices soared over 4% on Friday, reaching their highest levels since October. The surge reflects market concerns over potential supply disruptions as new sanctions target Russia’s oil industry. This escalation could significantly impact the global oil supply, further driving price volatility. Brent and WTI Futures Reach New Highs Brent crude futures climbed $3.50, or …
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Pakistan has postponed its liquefied natural gas (LNG) procurement deal with Qatar, shifting deliveries to 2026 instead of 2025. This shift in strategy reflects Pakistan’s focus on managing its energy resources efficiently amidst changing market dynamics. LNG Supply Deferred Without Penalties Dr. Malik announced that Pakistan deferred five LNG cargoes from Qatar and is negotiating …
Continue reading “Pakistan Delays LNG Deal With Qatar to 2026, Denies Russian Oil Agreement”
The energy minister of Saudi Arabia, Prince Abdul Aziz bin Salman explained Saudi Arabia’s plight to utilize domestically sourced uranium as nuclear fuel. He said, “The kingdom intends to utilize its national uranium resources, including in joint ventures with willing partners in accordance with international commitments and transparency standards.’ He further mentioned that “the entire …
Continue reading “Saudi Arabia Plans to Utilize Local Uranium”
Inflation rates are rising day by day in every corner of the world. Pakistan is not exempted from this crisis as well. The foreign reserves are down to $4.5 billion but the expenses are imports on the way are worth billions of dollars as well. It is reported that Pakistan might suffer a pulse crisis …
