Latest Oil Headlines and News updates

UAE's ADNOC Announces Finding 650 Million Barrels of Oil

Govt makings all-out efforts to address power outages issue: Khurram Dastagir Khan

Minister for Power Khurram Dastagir Khan on Thursday said the government was making all-out efforts to address the power outages issue in the country

US House Passes Bill to Crack Down on Oil, Gas Companies for Price Gouging

The US House of Representatives passed a bill on Thursday to crack down on oil and gas companies accused of keeping gasoline prices unnecessarily high for American consumers

Seven additional LNG cargoes procured to meet country's energy needs: Musadik

Minister of State for Petroleum Dr Musadik Masood Malik on Thursday said the government, being cognizant of the growing energy needs of consumers in the sweltering months of May and June, had completed the procurement of seven additional cargoes of Liquefied Natural Gas (LNG).

US Considering Series of Additional Measures to Deprive Russia of Oil Profits - Reports

The US government is considering undertaking a number of additional measures to deprive Russia of profits from the sale of oil, including introducing a price ceiling or cutting off Russia from accessing payments for energy exports, the New York Times reported on Thursday

Indonesia to lift ban on palm oil exports from upcoming week

Indonesia to lift ban on palm oil exports from Monday

Oil prices fall despite surprise drop in U.S. inventories

Oil prices declined on Wednesday even after data showed an unexpected drop in U.S. crude stockpiles

Shipping Activity at Port Qasim

Three ships namely, Em Astoria, Wide Hotel and Hampstead carrying Containers and Furnace oil, berthed at Qasim International Container Terminal and FOTCO Oil Terminal respectively on Wednesday

Shanghai crude oil futures close lower

Crude oil futures closed lower Thursday in daytime trading on the Shanghai International Energy Exchange

Imran's poor economic policies resulted in price hike, rise of dollar: PMLN leader

Imports of soyabean increase 101.96%, palm 44.64% in 10 months

Edible oil imports including soyabean and palm into the country during last 10 months of current financial year increased by 101.96% and 44.64% respectively as compared the imports of the corresponding period of last year

Rs1,949.72 mln released for 13 petroleum sector projects in 10 months

The government has released funds amounting to Rs1,949.72 million to execute seven ongoing and six new petroleum-related projects during the first 10 months of the current fiscal year under the Public Sector Development Programme (PSDP 2021-22) against a total allocation of Rs3,249.54 million

FM Bilawal Bhutto Zardari urges for concerted efforts to overcome growing global food crises

Foreign Minister Bilawal Bhutto Zardari has stressed upon the international community to work together with combined efforts to overcome the looming global food crises, impacting lives of millions of people across the globe

Oil Output in Russia Rose by Some 300,000 Bpd in May, Will Further Grow in June - Novak

Oil production in Russia increased by 200,000-300,00 barrels per day in May and will continue to grow in June, Russian Deputy Prime Minister Alexander Novak said on Thursday

S.Korea's economy expected to rise 2.8 pct in 2022

South Korea's economy was expected to rise 2.8 percent this year due to a rebound in private consumption, a state-run think tank said

UN lowers global economic growth due to spillover from Ukraine war

Pee pals: Dolphins taste friends' urine to know they're around

Renewable energy can steer world out of climate crisis: UN chief

Greece to Ban Sale of Internal-Combustion Engine Vehicles From 2030

Greece to Ban Sale of Internal-Combustion Engine Vehicles From 2030

Greece to Ban Sale of Internal-Combustion Engine Vehicles From 2030

Greece to Ban Sale of Internal-Combustion Engine Vehicles From 2030

Greece will impose a ban on a sale of vehicles with internal-combustion engines from 2030, also prohibiting a production of electricity from solid fossil fuel, or brown coal, from 2029, according to a draft law on climate protection, submitted to the country's parliament on Wednesday

Tesla Shares Tumble 7% After ESG Index Exclusion Prompts Musk Rebuke

Shares of electric car maker Tesla tumbled 7% on Wednesday amid news that it was dropped from S&P Global's ESG Index for sustainable investing after falling short on carbon, racial and working standards, prompting the firm's chief executive Elon Musk to call the index a tool of "phony social justice warriors."