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Coronavirus
VERY HIGH Source: covid.gov.pk
Pakistan Deaths
27,432
5824hr
Pakistan Cases
1,232,595
2,35724hr
4.9% positivity
Sindh
453,051
Punjab
425,703
Balochistan
32,812
Islamabad
104,619
KPK
172,210

Crude Oil

Iraq PM says won't allow threats to Iran from Iraqi soil
World

Iraq PM says won't allow threats to Iran from Iraqi soil

  • The people of Iraq want good relations with the Islamic Republic of Iran based on the principle of non-interference in the internal affairs of both countries.
  • Khamenei also said Iran would not interfere in relations between Iraq and the United States, according to his official website.
Published 22 Jul, 2020 12:24am
Oil steady as vaccine news counters rise in virus cases
Markets

Oil steady as vaccine news counters rise in virus cases

  • Brent futures were up 15 cents, or 0.4%, at $43.43 by 0117 GMT, while West Texas Intermediate (WTI) edged up 2 cents to $40.83.
  • The closing prices of both Brent and WTI have traded within a $2 channel so far this month.
Published 21 Jul, 2020 10:16am
Chevron to buy Noble for $5bn in stock, biggest oil deal since price crash
Business & Finance

Chevron to buy Noble for $5bn in stock, biggest oil deal since price crash

  • The deal diversifies Chevron's energy assets and makes it the first oil major to enter Israel. It "is a tremendous expression of confidence in the Israeli energy market."
  • the company was "mindful" of tensions between Israel and nearby countries where the company has business including Saudi Arabia, Kuwait, Qatar and the Kurdish region of Iraq.
Published 21 Jul, 2020 12:58am
MPCL discovers gas reserves in Sindh
Business & Finance

MPCL discovers gas reserves in Sindh

  • The company said that the Drill Stem Tests (DSTs) carried out in SUL Formation flowed gas at a rate of 11 MMSCFD at wellhead flow pressure (WHFP) of 887 Psi at 48/64 inch choke size after acid job.
Published 20 Jul, 2020 12:00pm
Norway's June crude oil output falls more than expected
Markets

Norway's June crude oil output falls more than expected

  • Crude oil output fell 12% to 1.54 million barrels per day (bpd) which was 4.1% below the official forecast which corresponded to a production cap of 1.61 million bpd set by the government.
  • The fields that produced less than the quota set for June can add these volumes to their production quota in the second half of the year.
Published 17 Jul, 2020 06:12pm
Norway's June crude oil output falls more than expected
Markets

Norway's June crude oil output falls more than expected

  • Crude oil output fell 12% to 1.54 million barrels per day (bpd) which was 4.1% below the official forecast which corresponded to a production cap of 1.61 million bpd set by the government.
  • The fields that produced less than the quota set for June can add these volumes to their production quota in the second half of the year.
Published 17 Jul, 2020 06:12pm
China's Sinopec to invest 5.4bn yuan in gas wells in northwest,
Markets

China's Sinopec to invest 5.4bn yuan in gas wells in northwest,

  • The wells, to be located on the Dingbei gas field near Wuzhong city, will have a combined gas production capacity of 1.8 billion cubic metres (bcm) per year.
  • Development at Dingbei will turn the poor, landlocked Ningxia region from gas importer to producer.
Published 17 Jul, 2020 05:23pm
OPEC fears second virus wave to prolong oil inventory overhang
Markets

OPEC fears second virus wave to prolong oil inventory overhang

  • OPEC, Russia and their allies, a group known as OPEC+, said they would ease record oil curbs from Aug. 1 citing a gradual recovery in demand as global lockdowns loosen up.
  • The group expects oil demand to climb by 7 million barrels per day (bpd) in 2021 after falling 9 million bpd this year.
Published 16 Jul, 2020 05:08pm