Oil prices claw back on supply concerns, but demand worries drag
Brent crude was up 8 cents, or 0.1 percent, at $78.26 a barrel by 0338 GMT, after falling 2 percent on Thursday. The global benchmark rose on Wednesday to its highest since May 22 at $80.13
Industry sources accuse PBIT exacting extra fee for handling coal at Port Qasim
According to market officials, the industry had been distressed and the high fee had increased problems for it as well as the exporters
Senate panel expresses annoyance over exorbitant rise in demurrage cost
The committee chairman pinpointed the demurrage costs paid by PSO had increased 10 times and had risen to $20.4 million in FY18 from $2.5 million in FY14, which needs to be reined in, he said
Petroleum Policy 2012 to be revised, new zone-1 (f) to be created for tapping hydrocarbon reserves
Under the Petroleum Policy 2012, an incentive package is available for onshore areas taking risk and investment requirements into consideration
In shift, Pakistani giant Engro to bet big on rising middle class
Engro has been a major beneficiary from Beijing’s Belt and Road Initiative splurge, working with Chinese firms on coal and power projects worth billions of dollars
Lakki Block concession to KP Oil PTI’s first exploration licence
36 concessions lying unexplored, pending security clearance
ISLAMABAD: The federal government on Wednesday awarded the licence to Khyber Pakhtunkhwa Oil & Gas Company...
Govt recommendations for tax exemptions, reductions on LPG rebuffed by retailers & wholesalers
This would result in the government suffering revenue losses to the tune of Rs6.7 billion if all the stakeholders reach a consensus over the recommendations put forth by SSGC
8 breakthrough energy projects approved for funding at Ignite
LAHORE: Ignite is a non-profit entity that has been rebooted from what was previously known as the National ICT R&D Fund. Owned by...
Discos making do in the absence of 50,000-plus critical staff
ISLAMABAD: With the power sector’s circular debt standing at an astronomical Rs1.18 trillion and a whopping 20 percent in reported technical losses...
Oil prices climb as Iran sanctions loom; US looks to prevent supply shortfall
Washington is putting pressure on other countries to also cut Iran imports, with close allies like South Korea and Japan, but also India, showing signs of falling in line
Decision to increase gas prices by 46pc put on hold
ISLAMABAD: The Economic Coordination Committee (ECC) of the federal cabinet has decided not to immediately increase gas prices by 46 per cent,...
Qatargas agrees on 22-year LNG supply deal with China
The Qatari state-owned company will supply LNG from the Qatargas 2 project - a venture between Qatar Petroleum, Exxon Mobil Corp and Total - to receiving terminals across China, with the first cargo to be delivered this month
OGDCL makes oil & gas discovery at Chanda oilfield in Kohat
The block is operated by OGDC with 72 percent stake along with 17.5 percent and 10.5 percent stake of GHPL and ZPCL respectively
Oil climbs as U.S. drilling stalls, Washington sanctions against Iran loom
Brent crude futures climbed 50 cents, or 0.65 percent, to $77.33 a barrel
Circular debt parked in PHPL surged 454pc to Rs582 billion since 2008
The shortfall in bill collection by distribution companies since 2013-14 has been projected at Rs434 billion