Tag: oil

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Oil Set for Biggest Weekly Gain in Two Years on OPEC,

  By Correspondent (customnews.pk) 11-Jan-2019 11-Jan-2019 News Clippings

Oil headed for its biggest weekly increase in two years in New York as OPEC cutbacks reined in supply while reassurance from the Federal Reserve… Read more

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Gas & Oil Pakistan Ltd commissions terminal

  By Correspondent (customnews.pk) 10-Jan-2019 10-Jan-2019 Energy

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… Read more

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Saudi Arabia announces rise in oil reserves

  By Correspondent (customnews.pk) 10-Jan-2019 10-Jan-2019 News Clippings

RIYADH: Top oil exporter Saudi Arabia announced a slight rise in its crude oil reserves on Wednesday after they were independently audited, providing more detail… Read more

OPEC cuts, US-China trade talks empower oil bulls

  By Correspondent (customnews.pk) 09-Jan-2019 09-Jan-2019 News Clippings

New York — Crude futures settled higher Tuesday, extending the price rally for a seventh straight session amid growing evidence that OPEC supply cuts will… Read more

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Pakistan says UAE’s financial assistance to shore up economy

  By Correspondent (customnews.pk) 08-Jan-2019 08-Jan-2019 News Clippings

ISLAMABAD: A loan facility from the United Arab Emirates (UAE) will help cash-starved Pakistan bridge a yawning current account deficit and shore up foreign reserves,… Read more

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Ogra proposes upto 13.5pc decrease in petroleum prices

  By Correspondent (customnews.pk) 29-Dec-2018 29-Dec-2018 Energy, Top Stories

ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has recommended a reduction in petroleum prices by up to 13.5 per cent, keeping in line with… Read more

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Pakistan to fully exploit $4.5bn petroleum import facility

  By Correspondent (customnews.pk) 27-Dec-2018 27-Dec-2018 Energy

ISLAMABAD: Finance Minister Asad Umar chaired a meeting of senior officials of Finance, Economic Affairs and Petroleum Divisions here on Thursday. The meeting reviewed the… Read more

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Oil prices fall more than 1 percent as U.S. stock markets retreat

  By Correspondent (customnews.pk) 27-Dec-2018 27-Dec-2018 News Clippings

Oil prices fell on Thursday after rebounding 8 percent in the previous session, with prices pressured by concerns over a faltering global economy and worries… Read more

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Saudi Budget’s Estimate for Oil Is Seen as ‘Wishful Thinking’

  By Correspondent (customnews.pk) 20-Dec-2018 20-Dec-2018 News Clippings

Some analysts say Saudi Arabia’s 2019 revenue forecast is surprising because they estimate it to be based on a relatively high price of oil. The… Read more

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Saudi oil facility to ease pressure on Pak rupee: SBP

  By Correspondent (customnews.pk) 18-Dec-2018 18-Dec-2018 News Clippings

LAHORE: The pressure on rupee will ease as soon as dollars start flowing in and the Saudi oil facility of $3 billion becomes available, according… Read more

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Oil gains near $52 as OPEC cuts weighed against U.S. supply rise

  By Correspondent (customnews.pk) 18-Dec-2018 18-Dec-2018 News Clippings

Oil was boosted to near $52 a barrel by a weak U.S. dollar while investors weighed if OPEC and its allies can successfully re-balance the… Read more

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Oil Industry’s Covert Campaign to Rewrite American Car Emissions Rules

  By Correspondent (customnews.pk) 15-Dec-2018 15-Dec-2018 News Clippings

When the Trump administration laid out a plan this year that would eventually allow cars to emit more pollution, automakers, the obvious winners from the… Read more

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Lower oil prices bodewell for the economy but procrastination in IMF program stirs uncertainty

  By Correspondent (customnews.pk) 12-Dec-2018 12-Dec-2018 Business and Finance, Top Stories

Consumption and import led robust economic growth in FY17 and FY18 was driven by loose monetary policy and an overvalued currency regime, which exposed Pakistan… Read more

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Defying Trump, Saudi Arabia chooses ‘Saudi first’ oil policy at OPEC meeting

  By Correspondent (customnews.pk) 12-Dec-2018 12-Dec-2018 News Clippings

President Donald Trump has told foreign leaders that “America First” means he will always put the needs of America ahead of the needs of other nations —… Read more

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Opec to sign co-operation deal with countries outside the group in three months

  By Correspondent (customnews.pk) 12-Dec-2018 12-Dec-2018 News Clippings

Opec will sign a co-operation agreement with countries outside the group led by Russia in three months formalising the existing partnership, the UAE energy minister… Read more