Pakistan Customs, Tax, Shipping & Business News Resource
KARACHI: Customs Enforcement Karachi has seized large quantity of smuggled tyres and engine/hydraulic oil worth Rs541.12 million from godown at Gul Bai and arrested one person namely Shahnawaz. Pursuant to…
If Saudi Arabia wants OPEC and its allies to agree to lower oil output, it will likely have to do “a lot of the heavy-lifting,” one oil watcher has told…
SINGAPORE: The Sangomar Field Development Phase 1 (Sangomar Development) has been approved by the Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore (RSSD) joint venture and has entered the execute…
LUXEMBOURG: Subsea 7 S.A. has announced the award of a very large contract (over USD 500mn) by Woodside to Subsea Integration Alliance for the Sangomar Field Development Phase-1 project located…
CALGARY, ALBERTA: Touchstone Exploration Inc. has provided production test results for the Coho-1 well on the Ortoire exploration block, onshore in the Republic of Trinidad and Tobago. As previously reported,…
TOKYO: MODEC, Inc.; Mitsui & Co., Ltd.; Mitsui O.S.K. Lines, Ltd. and Marubeni Corporation have agreed that Mitsui, MOL and Marubeni will invest in a long-term charter business currently promoted…
STOCKHOLM: S&P Global Ratings have upgraded Norwegian oil and gas company Aker BP to ‘BBB-‘; with stable outlook. Production is increasing and the company retains capital flexibility. The upgrade stems…
DUBAI: Gulf Marine Services (GMS) announced the award of a 4-year contract for a K-Class (Small) vessel. GMS’s customer is a Middle East national oil company, for which GMS will…
DUBAI: Oil rose on Wednesday following media reports that China was open to agreeing a partial trade deal with the United States. on the other hand, Turkey’s military operation in…
LONDON: The Oil and Gas Development Company (OGDC) Pakistan has notified that as per information received from MOL, the operator of TAL Block, hydrocarbons have been encountered in Development well…
TOKYO: MODEC, Inc. announced that it has received a Letter of Intent (LOI) for supply, charter, and operations of a Floating Production Storage and Offloading (FPSO) vessel for Petróleo Brasileiro…
KARACHI: The 17th International exhibition for oil, gas & energy industry-POGEE-2019, is to be scheduled from 20th to 22th, June, 2019, at Expo Centre, Karachi with 30 countries to participate…
SYDNEY: Fremont Petroleum Corporation has advise that the Amerigo Vespucci #1 well has been successfully drilled and has reached its target measured depth of 1,822 metres. The independent mud-logging company…
KARACHI: Pakistan’s petroleum products’ sales declined 18 percent YoY to 1.038 million tons during March 2019, dragged by 50 percent decline in Furnace Oil (FO) and 21 percent drop in…
PARIS: Total S.A has started up production on Kaombo Sul, the second Floating Production Storage and Offloading (FPSO) unit of the Kaombo project, located on Block 32, 260 kilometers off…
LONDON: UK Oil & Gas PLC (UKOG) has announce that aggregate test production from the Portland reservoir at the Horse Hill oil field, in which the Company has a 50.635%…
The world’s largest energy trader says oil prices are set to rally further as OPEC output cuts and American sanctions on Iran and Venezuela cause a “shortage” of the low-quality…
Oil prices hovered near 2019 highs on Wednesday, supported by OPEC-led supply cuts and U.S. sanctions on Iran and Venezuela, but capped by soaring U.S. production and expectations of an…
Saudi Arabia and its allies in the Organization of the Petroleum Exporting Countries (OPEC) are reportedly trying to deepen partnership with Russia-led oil producers, seeking to seal a new formal…
KARACHI: The Gas & Oil Pakistan Ltd has commissioned its state-of-the-art terminal at Mahmoodkot, Punjab in the vicinity of PARCO Mid-Country Refinery, which is the largest oil storage facility of…