Oil rises as producers trim output
Oil extended gains on Thursday amid signs that producers are cutting production to cope with a collapse in demand for fuel as...
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...
Saudi Arabia may re-route tankers if US imposes crude import ban: sources
LONDON/NEW YORK/MOSCOW: Saudi Arabia is looking into re-routing millions of barrels of oil onboard tankers sailing to the United States if President...
Oil falls again as coronavirus ravages energy markets
Brent crude plunged more than 12 percent to below $17 a barrel Wednesday while US oil erased early gains and fell, as...
Oil crash means more misery ahead for US shale producers
An unprecedented crash in oil prices is adding pressure to already stressed US producers, threatening key shale regions and putting vulnerable companies...
Oil slump wreaks havoc in Gulf markets, Saudi riyal under pressure
DUBAI/LONDON: Gulf debt and equity markets fell on Tuesday and the Saudi currency dropped in the forward market, after US crude oil...
What is a negative crude future and does it mean anything for consumers?
Supply of fuel has been far above demand since the coronavirus forced billions of people to stop traveling. Because of oversupply, storage...
US oil bounces after crash but Asian stocks suffer big losses
US crude prices bounced back into positive territory Tuesday, a day after crashing below $0.00 for the first time owing to crippled...
US to add 75mln barrels of oil to strategic reserve: Trump
WASHINGTON: President Donald Trump said Monday the US would take advantage of the historic drop in oil prices to buy 75 million...
Oil crashes, ends negative for the first time in history
US crude oil futures turned negative on Monday for the first time in history, ending the day at a stunning minus $37.63...
CCE decides to hold wrongdoers in power sector accountable
ISLAMABAD:Â The Cabinet Committee on Energy (CCE) on Monday decided to hold wrongdoers in the power sector accountable for their deeds.
Sources told this...
Govt asked to rescue petroleum dealers from bankruptcy
ISLAMABAD: The Petroleum Dealers Association and All Pakistan CNG Association on Monday urged the government to intervene as petroleum dealers had reached...
Omar Ayub asks IPPs to lower power tariff
ISLAMABAD: Energy Minister Omar Ayub Khan on Monday held a meeting with the independent power producers (IPPs) to discuss lowering of tariff...
Saudi Arabia gets physical with Russia in underground oil bout
MOSCOW: Behind a Saudi-Russian truce to stabilise oil markets with a record output cut, market players are seeing the two production heavyweights...
Poor circular debt handling cost exchequer Rs4,082bn over 13 years
ISLAMABAD:  A committee formed to probe the losses in the power sector has alleged that the governments’ failures to contain the circular debt...