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oil company

Exxon sues EU in move to block new windfall tax on oil companies

NEW YORK: US oil major Exxon Mobil Corp is suing the European Union in a bid to force it to scrap the bloc’s new...

Updated 30 Dec, 2022 08:42am

Business & Finance

FY22: PSO’s profit skyrockets to Rs95.7bn, up 223% driven by strong sales

Earnings per share clock in at Rs194.35 compared to EPS of Rs62.63 in FY21
Net sales during FY22 clock in at mammoth Rs2.54 trillion

Published 26 Aug, 2022 04:57pm

Markets

Petrobras and EIG near deal for Bolivia-Brazil gas pipeline

SAO PAULO/RIO DE JANEIRO: State-run Brazilian oil company Petrobras is close to reaching an agreement to sell to US...

Updated 15 Mar, 2022 06:40am

Markets

W Africa Crude: Nigeria sharply raises official selling prices

LONDON: Nigeria raised its crude official selling prices (OSPs) for December on Tuesday while more January export...

Published 24 Nov, 2021 05:18am

Business & Finance

Rolls-Royce partners with Shell in sustainable aviation fuel push

The pair signed a memorandum of understanding (MoU) on Wednesday which Rolls-Royce said would help with plans to certify 100% SAF for use in planes.

Updated 30 Jun, 2021 07:47pm

Business & Finance

At Brazil's Petrobras, a 'Spartan' military man takes the reins

President Jair Bolsonaro announced the 71-year-old Luna would take the helm of Petroleo Brasileiro SA, as the firm is formally known, in a Facebook post in February.
Petrobras shares fell sharply when Luna's predecessor, Roberto Castello Branco, was forced out after the group hiked domestic fuel prices several times in February, angering Bolsonaro.

Published 12 Apr, 2021 05:57pm

Business & Finance

Petrobras minority shareholders ask for cumulative voting in assembly

Petrobras also said in a securities filing that minority shareholders proposed a new candidate for the board, banker Jose Joao Abdalla Filho, owner of Banco Classico and energy and agribusiness companies. His name was proposed by investment funds holding Petrobras shares.

Published 09 Apr, 2021 06:05pm

Business & Finance

Petrobras requests ministry clarify Bolsonaro pricing comments; shares slide

In a securities filing, Petrobras said it asked the ministry about information that "should have been released to the market." The ministry has yet to respond, Petrobras said.
Bolsonaro's remarks on Wednesday helped wipe out gains in Petrobras' preferred and ordinary shares and they closed that session virtually flat. The preferred shares closed 0.08% down. The selling continued on Thursday.

Published 08 Apr, 2021 08:48pm

Markets

Oil drops below $64 as rising OPEC+, Iranian output weighs

OPEC+ to ease some output cuts between May and July.
Iran is also increasing output and exports.
Iran, US to hold indirect nuclear talks on Tuesday.

Published 05 Apr, 2021 06:50pm

Markets

Oil surges $2 after OPEC+ extends output cuts

Saudi Arabia surprises with continued voluntary cuts.
OPEC+ producers keep curbs, agree only small output boost.
Decision could affect oil inventories into 2022.
Brent and WTI on track for weekly gains.

Published 05 Mar, 2021 08:28pm

Markets

Oil holds close to 13-month high, supported by sharp drop in US output

Fed Chairman Jerome Powell nixes rate hike fears.
US dollar languishes near three-year lows.
Crude prices hit highest level since January 2020.
OPEC+ to meet on March 4, discuss modest output increase.

Published 25 Feb, 2021 09:37pm

Markets

Shares in Brazil's Petrobras rebound after Monday plunge

Shares in Petroleo Brasileiro SA, as the company is officially known, plunged 22% on Monday, wiping out 71 billion reais ($13 billion) in market value.

Published 23 Feb, 2021 08:06pm

Markets

Ecopetrol proven reserves finished 2020 down 6.5pc

The decline in 1P reserves was mainly caused by the 32% price drop in hydrocarbon prices, Ecopetrol said.
The Brent price used for valuation in 2020 was $43 per barrel, compared with $63 per barrel in 2019, implying a decrease of 215 million boe, the company said.

Published 19 Feb, 2021 07:09pm

Markets

Brazil oil regulator ANP notifies Petrobras, BR Distribuidora of aviation gasoline investigation

ANP said aviation gasoline produced by Petroleo Brasileiro SA in January did not meet required standards and that its auditors have been at the Presidente Bernardes refinery investigating the issue since Feb. 3

Published 05 Feb, 2021 06:02pm

Markets

OPEC experts meet as rising oil prices mask demand worries

Oil has rallied from historic lows reached last year as demand collapsed due to the pandemic thanks to record OPEC+ output cuts.
"A positive start," said one OPEC delegate. "The group wants a quick meeting with a positive agenda."

Published 02 Feb, 2021 07:01pm

Markets

Oil prices extend rally as producers restrain output

OPEC output increase smaller than expected – poll.
UBS sees Brent at $63 mid-year, Goldman at $65.
BP cites declining product demand, retail sales.
US blizzard offers hope for product demand.

Updated 02 Feb, 2021 08:13pm

Markets

Oil prices gain as inventories fall and demand picks up

Positive risk sentiment boosts prices, says UBS analyst.
Goldman Sachs sees oil price rising to $65 by July.
OPEC oil output rose in January, but less than forecast.

Published 01 Feb, 2021 07:04pm

Markets

Oil above $56 as lower US stockpiles outweigh COVID and demand concerns

API says US crude inventories fell by 5.3 million barrels.
China posts lowest daily rise in COVID-19 cases in over 2 weeks.
Coming up: US EIA oil supply report at 1530 GMT.

Updated 27 Jan, 2021 11:23pm

Markets

Iran's oil exports rise in January despite sanctions

Iranian crude exports rise to 600,000-700,000 bpd in January.
Iran lawmaker says shipments reach 900,000 bpd.
Hard to know final destinations due to ship-to-ship transfers.

Published 26 Jan, 2021 08:46pm

Business & Finance

Venezuela's PDVSA halts operations at 310,000 bpd Cardon refinery

Two of the people said the crude supply shortage arose due to problems at a pipeline supplying crude to the plant.
Workers as of Monday were attempting to restart one of the distillation units, three of the people said.

Published 26 Jan, 2021 08:00pm

Markets

Kazakhstan has restored oil output after power outages

Daily oil production was restored to 227,200 tonnes on Jan. 25 from about 195,700 tonnes on Jan. 21 and 182,774 tonnes on Jan. 20.
Still, production this month lags plans by around 660,000 tonnes, a source familiar with the data said.

Published 26 Jan, 2021 06:41pm

Markets

OPEC ‘cautiously optimistic’ oil market will recover in 2021

We all agree that the recovery is fragile, there are still more uncertainties, but we are cautiously optimistic that the recovery will materialise this year.
This year the way we see it is a year of recovery, whether it's going to be the end of the year where we are supposed to reach the balance or the beginning of 2022.

Updated 19 Jan, 2021 11:14pm

Business & Finance

Brazil's Petrobras CEO denies claims of 'predatory' fuel pricing policy

Branco said in the Wednesday edition of daily Valor Econômico that the claims amount to a personal "professional offense" against him and the government's economic policymakers.
As graduated economists ... we learned over 40 years ago that price controls are part of a museum of ineffective weapons to fight inflation.

Published 13 Jan, 2021 09:18pm

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Jan 28 786 Investments Limited(786)	4.70 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Jan 28 Al-Abbas Sugar Mills Limited(AABS)	377 ▼ 0.00 (0.00%)
Agro Allianz / Jan 28 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Jan 28 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Jan 28 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Jan 28 Allied Bank Limited(ABL)	65 ▼ 0.00 (0.00%)
Abbott Lab. / Jan 28 Abbott Laboratories (Pakistan) Limited(ABOT)	348.44 ▼ 0.00 (0.00%)
Abson Ind. / Jan 28 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Jan 28 Alfalah Consumer Index ETF.(ACIETF)	6.72 ▼ 0.00 (0.00%)
Attock Cement / Jan 28 Attock Cement Pakistan Limited(ACPL)	55.56 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Jan 28 786 Investments Limited(786)	4.70 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Jan 28 Al-Abbas Sugar Mills Limited(AABS)	377 ▼ 0.00 (0.00%)
Agro Allianz / Jan 28 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Jan 28 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Jan 28 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Jan 28 Allied Bank Limited(ABL)	65 ▼ 0.00 (0.00%)
Abbott Lab. / Jan 28 Abbott Laboratories (Pakistan) Limited(ABOT)	348.44 ▼ 0.00 (0.00%)
Abson Ind. / Jan 28 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Jan 28 Alfalah Consumer Index ETF.(ACIETF)	6.72 ▼ 0.00 (0.00%)
Attock Cement / Jan 28 Attock Cement Pakistan Limited(ACPL)	55.56 ▼ 0.00 (0.00%)

Stock	Volume
Pak Refinery / Jan 28 Pakistan Refinery Limited(PRL)	14,225,354 ▼ 0.00
Cnergyico PK / Jan 28 Cnergyico PK Limited(CNERGY)	13,167,971 ▼ 0.00
Fauji Foods Ltd / Jan 28 Fauji Foods Limited(FFL)	12,526,831 ▼ 0.00
WorldCall Telecom / Jan 28 Worldcall Telecom Limited(WTL)	9,891,019 ▼ 0.00
K-Electric Ltd. / Jan 28 K-Electric Limited(KEL)	9,686,092 ▼ 0.00
Hub Power Co. / Jan 28 The Hub Power Company Limited(HUBC)	8,819,700 ▼ 0.00
Habib Bank / Jan 28 Habib Bank Limited(HBL)	8,556,359 ▼ 0.00
Engro Polymer / Jan 28 Engro Polymer & Chemicals Limited(EPCL)	6,713,796 ▼ 0.00
Maple Leaf Cement / Jan 28 Maple Leaf Cement Factory Limited(MLCF)	5,509,833 ▼ 0.00
Lotte Chemical / Jan 28 Lotte Chemical Pakistan Limited(LOTCHEM)	5,393,473 ▼ 0.00

Markets →

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Jan 27	265
USD PKR Interbank Buying / Jan 27	263
USD to Japanese Yen / Jan 27	129.88
USD to Swiss Franc / Jan 27	0.92
Pound Sterling to USD / Jan 27	1.24
Euro to USD / Jan 27	1.09
UK LIBOR % / Jan 27	4.31

Stock	Volume
S&P 500 / Jan 27	4070.56
India Sensex / Jan 27	59330.90
Tokyo Nikkei / Jan 27	27382.56
Nasdaq / Jan 27	11621.71
Hang Seng / Jan 27	22688.90
FTSE 100 / Jan 27	7765.15
Dow Jones / Jan 27	33978.08
Germany DAX 30 / Jan 27	15150.03
France CAC40 / Jan 27	7097.21

Item	Value
Crude Oil USD/Barrel / Jan 27	79.68
Karachi Cotton PKR/37.32 KG / Jan 27	20235
Gold 10 Grams PKR / Jan 27	173610
Gold Spot USD/Ounce / Jan 27	1928.04
Cotton US¢/pound / Jan 27	86.89

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