ISLAMABAD: The government increased on Thursday regulatory duty on import of crude oil and its major products with immediate effect to minimise shortfall in revenue collection faced by the Federal Board of Revenue...
At a meeting of the Economic Coordination Committee (ECC) of the cabinet, the FBR had sought an increase in regulatory duty on crude oil, furnace oil, petrol and high speed diesel (HSD)...
SINGAPORE: Saudi Aramco plans to change the formula used to price its long-term crude oil sales to Asia starting from October, marking the first change in benchmarks for its official selling prices (OSP) since the mid-1980s, the company said on Wednesday...
The new formula will be based on the average monthly prices of Oman crude futures traded on the Dubai Mercantile Exchange (DME) and the average cash price for Dubai assessed by...
ISLAMABAD: Pakistan’s oil and food import bill rose nearly 26 per cent year-on-year to $11...
6 billion in the first seven months of the current fiscal year owing to an increase in global prices of crude and grains...
ISLAMABAD: Prime Minister Shehbaz Sharif on Friday lauded efforts of Minister for Industries and Production Makhdoom Murtaza Mehmood for making timely arrangements for import of edible oil from Indonesia...
During a meeting with the minister, he said the import of edible oil would help reduce prices of the commodity in the country...
Minister of State for Petroleum Musadik Malik said on Friday that Russian officials had “clearly” told Pakistan that they would provide discounted crude oil at the same rates as other countries or even lower...
“We are taking talks [with Russia on crude oil] forward,” he said while addressing a press conference in Islamabad...
Pakistan has placed its first order for discounted Russian crude oil under a new deal struck between Islamabad and Moscow, State Minister for Petroleum Musadik Malik has said...
The deal will see Pakistan buy crude oil only, not refined oil, and imports are expected to reach 100,000 barrels per day if the first transaction goes through smoothly, he said...
KOHAT: The Gumbat police seized an oil tanker carrying over 2,000 litres of crude oil from Kamar village here to Rawalpindi and arrested two smugglers on Thursday...
Gumbat police SHO Ghulam Murtaza told Dawn that the Kamar area was rich in oil from where the smugglers dug the ground with improvised methods and filled the crude oil to sell it in Punjab market...
PESHAWAR: The Khyber Pakhtunkhwa Assembly on Thursday asked the federal government to impose the federal excise duty on crude oil, pay arrears and mark-up in the head of net hydel profit to the province, and ensure maximum increase in the province’s share in Public Sector Development Programme...
A resolution moved by parliamentary leader of Qaumi Watan Party Sikandar Hayat Sherpao asked the petroleum and natural resources ministry to...
India's top refiner has issued its first tender to buy high-sulphur, or sour, crude from North America as it seeks to diversify imports, three trading sources said on Tuesday...
The purchase comes after Indian Prime Minister Narendra Modi's visit to the United States last week when President Donald Trump said the US looked forward to exporting more energy products to the world's third-biggest oil buyer...
ISLAMABAD: The National Assembly’s Standing Committee on Petroleum and Natural Resources has directed the Federal Investigation Agency to expedite the inquiry into the theft of crude oil from Khyber Pakhtunkhwa’s Karak oilfield...
A representative of the FIA apprised the committee of preliminary findings into the oil theft case...
RIYADH: Saudi Arabia's crude oil exports fell to their lowest in five months in May despite near-record production, as the Organisation of the Petroleum Exporting Countries (Opec) kingpin turns itself into a major refined-fuels power and as domestic consumption rises...
Saudi Arabia, the world's top crude oil exporter, shipped 6...
TORONTO: Brexit has hit oil markets...
Though to be fair, even before the decision, oil markets were in a loop...
TORONTO: Crude markets are on the edge, reacting to every news item concerning the overall energy outlook...
Markets remained focused on two major developments; the level of US crude inventory and the possibility of an output freeze agreement in Algiers later this month...
DERA GHAZI KHAN: Police foiled an attempt to steal crude oil from the Pak Arab Refinery Limited (Parco) pipeline in the Gaddai police area on Monday and arrested three suspects besides confiscating an oil tanker...
District Police Officer Ghulam Mubashar Maikin told Dawn that police had confiscated the oil tanker filled with 6,000 litres of crude oil, stolen from the Parco pipeline...
NEW YORK: US crude oil closed nearly nine per cent higher Monday as the government lowered its domestic crude production estimate and Opec signalled concern about multi-year low prices...