PSO seeks Rs 60 billion from the govt to clear the loan obtained for controlling the circular debt
ISLAMABAD: Financially starved Pakistan State Oil (PSO) has sought Rs 60 billion from the ministries of finance and power to clears the...
Oil jumps after U.S. crude stockpiles shrink most since August
NEW YORK: Oil topped $ 62 a barrel for the first time since May 2015 after U.S. crude stockpiles shrank by the...
Pakistan extends duty free access for 67 per cent Chinese exports
ISLAMABAD: China has extended duty free access on 90 per cent Pakistani exports under Pak-China Free Trade Agreement (FTA)-2, while Pakistan has...
PM Abbasi directs closure of less-efficient power plants
ISLAMABAD: Prime Minister Shahid Khaqan Abbasi on Friday directed that less-efficient power plants should be closed and oil-based plants should be converted...
Record oil output cuts fail to make waves in coronavirus-hit market
SINGAPORE/LONDON: The minimal impact on oil prices from a global deal for record output cuts showed that oil producers have a mountain...
KP’S Local Government Department utilised 7% development funds in two months
PESHAWAR: The Khyber Pakhtunkhwa (KP) Local Government Department has utilised only 7% of the development funds allocated to it, in the past...
NEPRA allows K-Electric use of RLNG in power production
KARACHI: NEPRA, the power-sector regulator, has allowed K-Electric to use imported gas – re-gasified liquefied natural gas (RLNG) – for power generation as...
Aramco listing plan halted, oil giant disbands advisors – sources
The financial advisors working on the proposed listing have been disbanded, as Saudi Arabia shifts its attention to a proposed acquisition of a “strategic stake” in local petrochemicals maker Saudi Basic Industries Corp, two of the sources said
Pakistan seeks price reduction in gas tariff of TAPI pipeline
ISLAMABAD: The government is seeking reduction in gas prices from Turkmenistan by linking it with Brent Crude Oil rates under a revised...
OPEC slashes oil demand forecast again, sees biggest hit this quarter
LONDON: OPEC slashed its forecast on Wednesday for global oil demand this year and predicted this quarter would see the steepest decline...
Baker Hughes posts $10bn loss as oil sector demand tanks
Oilfield firm Baker Hughes Co on Wednesday reported a $10 billion (8.09 billion pounds) first-quarter loss and revenue fell more than expected...
Bahrain discovers biggest oil field in its history
DUBAI: Bahrain on Sunday announced it has discovered the largest oil and gas field in the history of the small kingdom, which unlike...
KSE-100 index closes the week in red
Pakistan Stock Exchange (PSX) KSE-100 index lost 46 points or -0.09pc to end Friday's trading session at 48,971.05. Trading at the benchmark index largely...
OPEC agrees modest hike in oil supply after Saudi and Iran compromise
The United States, China and India had urged oil producers to release more supply to prevent an oil deficit that could undermine global economic growth
ECC delays decision on passing of fuel charge adjustments to consumers
ISLAMABAD: The Economic Coordination Committee (ECC) on Thursday failed to take a decision regarding the passing on of Fuel Charge Adjustments (FCA)...