As per a notification issued here, the price of petrol has remained unchanged at Rs254.63 per litre, effective April 16, 2025. The price of high-speed diesel also remained unchanged at Rs258.64 per litre. ‘Govt to use oil price savings for N-25 upgrade, Balochistan uplift’ The announcement follows a statement from Prime Minister (PM) Shehbaz Sharif, […]
Brent futures fell 77 cents, or 1.18%, to $64.71 a barrel by 0320 GMT, while US West Texas Intermediate crude futures fell 65 cents, or 1.04%, to $61.70. Following the tariff pause for most countries, the benchmark crude contracts had settled 4% higher on Wednesday after dropping as much as 7% during the session. Trump, […]
The six fields and two reservoirs were found to have Arabian oil of different grades totalling 8,126 barrels per day, according to Reuters calculations based on the announcement. The natural gas discoveries from two fields and four reservoirs totalled 80.5 million standard cubic feet per day (scfd), the calculations show. Associated gas from the oil […]
According to Mari Energies, the operator of the Waziristan Block, the Spinwam-1-1 well has yielded substantial oil and gas reserves, boosting the country’s hydrocarbon resources. The latest discovery has revealed an estimated 70 million standard cubic feet per day (MMSCFD) of gas and 310 barrels per day (bbl/d) of crude oil. This find is in […]
Brent futures declined $2.28, or 3.5%, to $63.30 a barrel at 0049 GMT, while U.S. West Texas Intermediate crude futures lost $2.20, or 3.6%, to $59.79. At the session low, both benchmarks hit their lowest since April 2021. Oil plunged 7% on Friday as China ramped up tariffs on US goods, escalating a trade war […]
Brent crude futures were up 27 cents to $73.27 a barrel by 0749 GMT. U.S. West Texas Intermediate crude climbed 26 cents to $69.37. Both benchmarks gained more than 1% in the previous session after U.S. President Donald Trump announced a 25% tariff on countries importing oil and gas from Venezuela. Oil is Venezuela’s main […]
Brent crude futures were up 1 cent at $73.01 a barrel by 0424 GMT. U.S. West Texas Intermediate crude dipped 1 cent to $69.10. Both benchmarks gained more than 1% on Monday after U.S. President Donald Trump announced a 25% tariff on countries importing oil and gas from Venezuela. Oil is Venezuela’s main export and […]
According to the company’s spokesperson, the well is producing 20.48 MMCFD of gas and 117 barrels of oil per day. This marks the second successful discovery from the Spinwam-1 well. The discovery is expected to help bridge the gap between demand and supply, contributing to the country’s energy needs. Earlier, in July 2024, Mari Petroleum […]
While Russia has publicly encouraged the use of cryptocurrency and last summer passed a law to allow digital currency payments in international trade, its use in the country’s oil trade has not previously been reported. Some Russian oil companies are using bitcoin, ether and stablecoins such as Tether to smooth the conversion of Chinese yuan […]
Brent futures fell 49 cents, or 0.7%, to $71.13 a barrel at 0455 GMT, as U.S. West Texas Intermediate (WTI) crude eased 26 cents, or 0.4%, to $68.11. “The current downward trend in oil prices is primarily driven by OPEC+’s decision to increase output and the introduction of U.S. tariffs,” said Darren Lim, commodities strategist […]
