Tag: Oil
Iran keeps tensions high over oil strait
Iran on Saturday kept tensions simmering over its threat to close the Strait of Hormuz to oil tankers by readying war game missile tests...
Iran-US brinkmanship over oil strait worsens
A showdown between Iran and the United States over Tehran’s threats to close the strategic Strait of Hormuz to oil tankers worsened Thursday with...
Govt releases Rs 6 billion for fuel oil purchase
Government has released Rs6 billion to enable the generation companies to make timely payment to fuel oil suppliers to overcome the forced power outage...
China plays hard ball over Iranian oil rates
As the world collectively contemplates over the ramifications of Washington’s sanctions on Iran, China has made its line of action pretty clear. US sanctions...
14 bodies found, 39 feared dead in Russian oil rig...
The bodies of 14 crew from a sunken oil rig were located Monday off Russia’s Sakhalin island as searches for survivors went into a...
Economics of oil
Despite fundamental growth problems in the global economy, geopolitical tensions in the Persian Gulf seem set to trigger yet another round of nervous hikes...
War on Iran and its consequences
Oil, the blood of global economy, is the biggest derivative of economic growth in all the economies across the world. The importance of oil...
8,000 litres of fuel burnt in oil tankers explosion
Over 8,000 litres of fuel was burnt when a minor blast caused a fire in one of the two oil tankers parked at the...
Oil would go over $250 if exports banned: Iran
Iran’s Foreign Ministry believes that if the West seriously considered blocking Tehran’s ability to export oil, the global price of crude would more than...
Sanctions bite in Syria as oil giant Shell pulls out
Royal Dutch Shell said on Friday it would cease operations in Syria to heed new European Union sanctions against Damascus, deepening the international isolation...
Another increase
The recent increase in oil prices is not going to help the economy already burdened by a high rate of inflation. It is true...
Oil tanker owners welcome ban on supplies to NATO forces
Lingering on the border as they waited for a fourth day to cross into Afghanistan with supplies for NATO troops, Pakistani truck drivers sat...
President signs oil and gas theft bill
Following a presidential approval to the Criminal Law (Amendment) Bill, 2011, people involved in the theft of oil and gas and disrupting petroleum supply...
Over 100 NATO oil tankers sent back
More than a hundred oil tankers and containers meant for supply to NATO forces in Afghanistan were sent back to Peshawar from Torkham border...
Oil discovery
OGDCL’s discovery of “significant reserves” of hydrocarbons in KP comes at a good time for Pakistan’s stressed reserve-position. Not only has oil’s erratic rise...
Oil import bill to ease on account of Breakthrough
The cash-strapped country would see some ease in its burgeoning oil import bill as the Oil and Gas Development Company Limited (OGDCL) has discovered...
OGDCL makes landmark oil discovery
State owned Oil and Gas Development Company Limited (OGDCL) has made a major oil discovery from “Nashpa well two”, in Karak, Khyber Pakhtunkhwa. Initial...
