Pakistan has received a fresh crude oil cargo, with another vessel expected to arrive shortly, as authorities step up efforts to build fuel stocks and ensure supply stability amid volatile global energy markets and ongoing regional tensions. The development was shared during ameeting of the Committee to Monitor Petrol Prices, which was held on Wednesday […]
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Russia ready to supply discounted oil to Pakistan, says envoy
The Russian Ambassador to Pakistan, H.E. Mr. Albert P. Khorev, held a press briefing at the Russian Embassy in Islamabad, addressing a range of regional and international issues amid escalating tensions in the Middle East and ongoing global conflicts. Ambassador Khorev accused the United States and Israel of actively attempting to sow disorder and division […]
Fire at UAE oil hub as Iran vows revenge for Kharg Island attack
Iran warned it could hit selected targets, including US “hideouts” in the United Arab Emirates, and warned civilians to evacuate on Saturday, projecting defiance after US forces hit military sites at its own main oil hub a day earlier. Some oil-loading operations have been suspended in the UAE’s Fujairah emirate, a major bunkering hub and […]
World shares decline, oil pops above $100 a barrel over Iran war worries
World shares retreated on Friday while oil prices again popped above $100 per barrel as anxiety remained over the Iran war and its impact on supplies of crude oil and gas. U.S. futures slipped, with the futures for the S&P 500 and Dow Jones Industrial Average down 0.3%. In early European trading, Britain’s FTSE 100 […]
Oil tops $100 as Iran attacks offset IEA stockpile release
Oil soared above $100 and stocks sank Thursday as Iran’s fresh attempts to hit supplies in the Middle East and threats to bring down the global economy overshadowed a record release of strategic crude by the International Energy Agency. The IEA said Wednesday that its members had agreed to unlock 400 million barrels of oil […]
Schools go online amid Middle East war-driven oil crisis
Some schools in Pakistan shifted to online learning this week as authorities introduced emergency fuel-saving measures after global oil prices surged due to the escalating conflict involving the United States, Israel and Iran. The government has ordered a series of austerity steps aimed at reducing fuel consumption, including temporary school closures, remote work arrangements for […]
Naveed Qamar calls for relief amid surging global oil prices
Senior PPP leader Syed Naveed Qamar on Monday urged the government not to shift the full impact of rising global oil prices onto the public. Speaking in the National Assembly, he said international oil prices had recently increased due to the ongoing conflict involving Iran, Israel and the United States, which had disrupted oil supplies […]
Israel hits Tehran oil depots; 2 killed in Saudi Arabia
Iran’s Foreign Minister Abbas Araghchi told NBC News that his country will not agree to a ceasefire in the Middle East, saying Tehran must “continue fighting for the sake of our people.” He accused the US and Israel of targeting civilians, including students and hospitals, and said previous ceasefires, including the one ending last year’s […]
Pakistan expects three oil shipments today as supply worries grow
Three petroleum shipments are expected to reach Pakistan today, Petroleum Minister Ali Pervaiz Malik informed a briefing called to discuss rising global oil prices and fuel reserves amid the widening Middle East conflict on Sunday. The meeting attended by Finance Minister Muhammad Aurangzeb and Sindh Chief Minister Murad Ali Shah comes a day after Prime […]
Pakistan seeks Saudi oil route via Red Sea port amid Hormuz closure
Pakistan has asked Saudi Arabia to help secure crude oil supplies through the Red Sea port of Yanbu as the closure of the Strait of Hormuz threatens the country’s energy supply routes, the petroleum ministry said on Wednesday. The request comes as the strategic waterway between Iran and Oman was shut after escalating hostilities between […]