Oil plunges to lowest level since 2003
LONDON: Oil prices slumped a new on Friday with Brent North Sea crude plumbing a 17-year low owing to massive oversupply as...
Calls mount for new OPEC+ deal as oil prices and demand slide
MOSCOW/DUBAI/LONDON: Oil producers need to resume cooperation in an effort to stabilise the global market, Russian and OPEC officials said, as the...
Petroleum Division says POL prices to remain intact for April
ISLAMABAD: The government on Friday made it clear that oil prices would remain unchanged for the month of April this year.
In a...
CNG price reduced by Rs9 for Punjab, Islamabad
ISLAMABAD: The All Pakistan Compressed Natural Gas Association (APCNGA) on Friday announced to reduce the commodity price by Rs9 per liter for...
CCoE for enhancement of oil storage capacity
ISLAMABAD: The Cabinet Committee on Energy (CCoE) on Friday asked the concerned ministry to take necessary steps and enhance the national storage...
Oil gains as govts pledge support amid coronavirus chaos
Oil prices rose on Friday as governments around the world pledged a huge injection of funds and other measures to limit the...
Global oil refiners to deepen output cuts as coronavirus destroys demand
SINGAPORE/NEW DELHI/SEOUL/HOUSTON: Oil refiners from Texas to Thailand are bracing for deeper output cuts, bruised by an unprecedented demand shock as more...
Oil majors slash 2020 spending 18pc after prices slump
LONDON: The world’s biggest oil and gas companies are slashing spending this year following a collapse in oil prices driven by a...
Calls grow for govt to invoke force majeure in LNG deal with Qatar
ISLAMABAD: Amid slow demand for costly liquefied natural gas (LNG) deal due to lockdown in the country in the wake of fast...
Petro Division asks provincial govts to ensure smooth supply of fuel
ISLAMABAD: The Ministry of Energy's Petroleum Division on Tuesday asked the provincial chief secretaries to ensure movement of personnel and the equipment...
SNGPL board to propose 5 fresh names for MD’s appointment
ISLAMABAD: The Board of Directors (BoD) of the Sui Northern Gas Pipelines Limited (SNGPL), in its upcoming meeting to be held on...
Relief to consumers: Gas utilities asked to rationalise revenue requirements
ISLAMABAD: The Petroleum Division of the Ministry of Energy has advised the state-owned gas companies (SNGPL and SSGCL) to rationalise revenue requirements,...
Govt collects Rs385bn from petroleum levy in two years
ISLAMABAD: The federal government has collected around Rs385 billion on account of the Petroleum Development Levy (PDL) in the last two years...
2019: Saudi Aramco profit slides 20.6pc on lower crude prices
Saudi Aramco reported Sunday a 20.6 per cent drop in 2019 net profit due to lower crude prices and production levels, in...
BP looks at lowering spending after oil price crash
LONDON: BP (BP.L) is “making interventions” to reduce capital and operational spending in the wake of the recent collapse in oil prices,...