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