An oil refinery in the Siberian city of Omsk, Russia. — Reuters/File Refiners will source more oil from the Middle East, Africa and the Americas. Crude prices and transportation costs will increase due to the change in supply. China’s independent refiners will cut production if ESPO’s supply hits. Chinese and Indian refiners will source more … Read more
Thirty-two dolphins have died since two storm-hit tankers spilled fuel oil three weeks ago in the Kerch Strait, which separates the Russian-occupied Crimean peninsula from the southern Russian region of Krasnodar, it was announced on Sunday. an animal protection association. Russia’s Delfa Dolphin Rescue and Research Center said the deaths were “most likely linked to … Read more
An undated image of a MOL Pakistan exploration site. — MOL Pakistan website/file Circular debt creates cash flow constraints, according to the ministry report. This highlights ineffective financial management in PSO, PPL, etc. Deplores obsolete and inefficient infrastructure, operational problems. ISLAMABAD: The Ministry of Finance, in its report, has raised serious questions over financial mismanagement … Read more
A unit of the Kuwait Petroleum Corporation. — AFP/File KUFPEC will “recover its investments” by selling assets. The company’s decision has raised serious concerns among policymakers. PEL also confirms having made advance payments to KUFPEC. ISLAMABAD: Kuwait Foreign Petroleum Exploration Company (KUFPEC) has started the process of exiting Pakistan’s oil and gas sector by selling … Read more
The Maltese-flagged tanker Minerva Baltica sails through the Bosphorus en route to the Black Sea in Istanbul, Turkey, December 5, 2022. — Reuters Islamabad does not buy any crude oil cargo from Moscow: Malik. The minister said the government was considering postponing 5 additional LNG cargoes. Highlights excess LNG due to lack of purchase by … Read more
A TORC Oil & Gas pump jack is seen near Granum, Alberta, Canada, May 6, 2020. — Reuters Tariffs could harm American consumers, industry warns. Canadian and Mexican producers would turn to Asia. Analysts doubt Trump’s tariffs will pass. Oil producers in Canada and Mexico will likely be forced to cut prices and divert supplies … Read more
ISLAMABAD: Petroleum Minister Musadik Masood Malik on Thursday informed the National Assembly that oil prices in Pakistan have decreased by Rs 47.54 per liter since May. Replying to various questions, the minister explained, “Pakistan purchases fuel at international market rates, but we get some discounts on the premium. » He explained: “Under an agreement, we … Read more
The International Monetary Fund logo is seen inside the headquarters in Washington, United States, October 9, 2016. — Reuters Potential delay linked to Saudi Arabia conditions on the Reko Diq project. Sources suggest Pakistan has a backup plan if Saudi oil facilities shut down. The IMF mission discusses external financing in the context of economic … Read more