Govt to pass on benefit of reduced oil prices to public: RazakÂ
ISLAMABAD: Advisor to the Prime Minister on Commerce, Textile, Industry and Production Abdul Razak Dawood has said the government intended to pass...
Oil majors, govts haggle over sharing pain of deepest cuts yet
LONDON/MOSCOW: From Kazakhstan and Azerbaijan to Nigeria and Angola, oil majors are haggling with national governments over how to share out deep...
Altern Energy to negotiate tariff-related issues with govtÂ
The Board of Directors of Altern Energy Limited (AEL), in its meeting dated April 27 authorised management to proceed for contractual negotiations...
US oil falls below $11 as fund sells off holdings
US oil nosedived below $11 a barrel Tuesday after a major exchange-traded fund started selling its short-term contracts of the commodity, and...
Cabinet’s approval sought for appointment of new directors of public entities
ISLAMABAD: The Ministry of Energy (MoE) has sought approval of the federal cabinet against its nominated directors to fill casual vacancies in...
Oil falls on storage woes in virus-hit market
US oil prices fell heavily Monday on renewed concerns over storage capacity as the coronavirus throttles demand, even as producers start slashing...
Asian shares gain as BOJ announces more stimulus stepsÂ
Asian shares bounced on Monday as the Bank of Japan (BOJ) announced more stimulus steps to help cushion the economic impact of...
MoE’s decision to buy LNG at $4 per MMBTU will incur Rs10bn loss per annum
ISLAMABAD: The Ministry for Energy (MoE) has decided to purchase liquefied natural gas (LNG) at $4 per Million British Thermal Unit (MMBTU)...
Lockdown: Oil refineries seek govt’s help for survival
ISLAMABAD: Oil refineries throughout Pakistan have sought the federal government’s intervention for a bailout package, saying they are left with no option...
Oil prices jump more than $1 after week of turmoil amid virus outbreak
TOKYO: Oil prices jumped again on Friday, gaining more ground as producers like Kuwait said they would move to cut output and...
Pakistan could save billions if payments to IPPs be made in Pak rupee: report
ISLAMABAD: The change in few terms and conditions of the agreements signed with the Independent Power Producers (IPPs) in the past may...
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...