Pakistan plans to boost domestic storage for crude oil and refined products to increase its energy security, according to a government document that was shared with oil producers and some of the world’s leading trading firms. Despite depending on supplies through the Strait of Hormuz for up to 90% of its oil and liquefied natural […]
Hormuz
Oil and LNG tankers exit Hormuz, heading for Pakistan and China
Ship-tracking data showed three liquefied natural gas tankers passed through the Strait of Hormuz in recent days, heading to Pakistan, China and India, as well as a supertanker with Iraqi crude for China after being stranded for nearly three months. The vessels join a handful of supertankers leaving the Gulf this month via a transit […]
Iran hits UAE oil port as US moves to reopen Hormuz
Fire broke out at a major UAE oil industry zone on Monday after a drone attack originating from Iran, authorities said, as the Gulf state’s military separately intercepted three Iranian missiles over its waters and a fourth crashed into the sea. It was the first time the UAE came under attack by Iran since a […]
Pakistan notifies six land routes for goods transportation to Iran amid Hormuz closure
Pakistan has notified six routes for the transportation of goods to Iran against an encashable bank guarantee amid reports that thousands of containers destined for Iran are awaiting clearance at Pakistani ports. For this to come into force, the Ministry of Commerce has issued a statutory regulatory order, Transit of Goods through Territory of Pakistan […]
Strait of Hormuz closure pushes Pakistan into expensive LNG deal
State-run Pakistan LNG Limited (PLL) has approved a revised bid of $18.4 per million British thermal units (mmBtu) from TotalEnergies for delivery between April 27 and 30, while rejecting all other bids, it emerged on Saturday. TotalEnergies had initially bid $18.88 per mmBtu but later revised its offer downward to $18.4 following negotiations. After internal […]
Hormuz chaos overshadows US-Iran peace deal hopes
At least two merchant vessels reported they were hit by gunfire as they attempted to cross the Strait of Hormuz on Saturday, three maritime security and shipping sources said, shortly after Iran said it was once more tightening control of the waterway. Some merchant vessels received a radio message from Iran’s Navy that the vital […]
US, Iran eye Islamabad for fresh talks as Hormuz blockade tightens
The blockade over an artery responsible for one-fifth of the global oil traffic began with a warning crackling over the radio: “Do not attempt to breach the blockade. Vessels will be boarded for interdiction and seizure…Turn around or prepare to be boarded. If you do not comply…we will use force.” The message, posted by US […]
Oil under pressure as US blockade of Hormuz begins
The United States Naval blockade begins in the Strait of Hormuz after the deadline of 7 pm (10 am ET). A blockade was imposed on all the ships entering or leaving Iranian ports. After the deadline, Trump warned on the Truth Social platform about the blockade. ” If any of these ships come anywhere close […]
Trump announces Strait of Hormuz blockade after peace talks falter
United States President Donald Trump on Sunday thanked Pakistan for hosting talks between Washington and Tehran in Islamabad, while announcing that the US Navy would begin blockading the Strait of Hormuz after negotiations failed to produce a breakthrough. The US and Iran were unable to reach an agreement to end their war despite marathon negotiations […]
Trump says US forces are ‘clearing’ Strait of Hormuz
States military has started to clear the Strait of Hormuz, and that all of Iran’s minelaying ships have been sunk. “We’re now starting the process of clearing out the Strait of Hormuz,” Trump wrote in a social media post, adding that “all 28” of Iran’s “mine dropper boats are also lying at the bottom of […]