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Coronavirus
VERY HIGH Source: covid.gov.pk
Pakistan Deaths
27,072
6824hr
Pakistan Cases
1,218,749
2,92824hr
5.08% positivity
Sindh
448,658
Punjab
419,423
Balochistan
32,707
Islamabad
103,720
KPK
170,391

Crude Oil

Indian Oil to fully restart Paradip refinery by Saturday
Markets

Indian Oil to fully restart Paradip refinery by Saturday

  • The refinery's maintenance shutdown has been extended by a few days due to shortage of laborers amid the COVID-19 pandemic.
  • Remaining seven are being started in sequence as all are connected and start up will complete over the next two days.
Published 20 Aug, 2020 05:31pm
OPEC+ presses for compliance with oil cuts
Markets

OPEC+ presses for compliance with oil cuts

  • Wants Iraq, Nigeria, Angola, Kazakhstan to cut more.
  • Oil prices near 5-month highs.
  • Demand could reach pre-COVID levels in Q4.
  • Second virus wave seen as key risk to demand.
Published 20 Aug, 2020 01:36am
Trump administration finalizes oil drilling plan in Alaska wildlife refuge
Markets

Trump administration finalizes oil drilling plan in Alaska wildlife refuge

  • The energy industry and Alaska Governor Michael Dunleavy said opening ANWR to drilling would create jobs and boost the state's economy.
  • A Republican-passed tax bill in 2017 opened the area to oil and gas leasing, a key pillar of US President Donald Trump's agenda to expand fossil fuel production.
Published 18 Aug, 2020 01:05am
Oil slips after IEA lowers 2020 demand forecast
Markets

Oil slips after IEA lowers 2020 demand forecast

  • The Organization of the Petroleum Exporting Countries (OPEC) also said that world oil demand will fall by 9.06 million bpd this year.
  • Wall Street has recovered most of the trillions in market capitalization lost in the early part of the pandemic.
Published 13 Aug, 2020 11:16pm
Oil edges lower after jump on U.S. stocks draw
Markets

Oil edges lower after jump on U.S. stocks draw

  • Brent crude was down 8 cents at $45.35 a barrel by 0150 GMT, after a gain of around 2% in the previous session. West Texas Intermediate oil was down by 6 cents at $42.61 a barrel after gaining 2.6% on Wednesday.
Published 13 Aug, 2020 10:30am
Oil edges lower after jump on U.S. stocks draw
Markets

Oil edges lower after jump on U.S. stocks draw

  • Brent crude was down 8 cents at $45.35 a barrel by 0150 GMT, after a gain of around 2% in the previous session. West Texas Intermediate oil was down by 6 cents at $42.61 a barrel after gaining 2.6% on Wednesday.
Published 13 Aug, 2020 10:30am
Shell eyes stake in Nayara's $9bn Indian petchem project
Business & Finance

Shell eyes stake in Nayara's $9bn Indian petchem project

  • Global oil majors are looking at expanding foothold in the vast Indian market, where local refiners are investing billions of dollars to boost their petrochemical capacities.
  • The petrochemical joint venture between Nayara and Shell was discussed at board of directors meetings of Nayara in November and December last year.
Published 13 Aug, 2020 12:41am
US fuel inventories fall as demand rebounds
Markets

US fuel inventories fall as demand rebounds

  • Refinery utilization rose 1.4 percentage points to 81% of total capacity nationally in the week to Aug. 7, the Energy Information Administration.
  • US fuel demand rose to 19.37 million barrels per day last week, the highest since March, reducing gasoline.
Published 13 Aug, 2020 12:36am