Trends - Oil import - Business Recorder

Markets

China quietly increases purchases of low-priced Russian oil

SINGAPORE: China is quietly ramping up purchases of oil from Russia at bargain prices, according to shipping data ...

Published 21 May, 2022 04:34am

BR Research

Oil prices: volatile but high

While remaining on the higher band, international crude oil prices have seen some slippage in recent weeks as demand...

Published 17 May, 2022 08:14am

Business & Finance

LCCI for ‘well-tailored’ strategy to deal with oil import bill challenge

LAHORE: The Lahore Chamber of Commerce & Industry (LCCI) on Tuesday called for a well-tailored strategy to cope...

Published 11 May, 2022 04:58am

Markets

Ex-energy minister wants Pakistan to purchase oil from Russia at cheaper rates

Hammad Azhar says transaction structure was being prepared for oil purchase from Russia

Updated 05 May, 2022 03:59pm

Business & Finance

During 2022: Pakistan to import 32.7mn barrels of crude under Saudi Fund Programme

Pak-Arab Refinery Company Limited and National Refinery Limited are planning to import 16.89 and 15.81 million barrels, respectively

Updated 05 Apr, 2022 07:37pm

Markets

US warns India, others against sharp rise in Russian oil imports

NEW DELHI: A significant increase in Russian oil imports by India could expose New Delhi to a "great risk" as the...

Published 31 Mar, 2022 10:55am

Markets

Oil slides lower in volatile session as traders debate supply concerns

BENGALURU: Oil prices gave up gains to trade lower on Thursday after its biggest plunge in two years in the previous...

Published 11 Mar, 2022 05:12am

BR Research

Oil prices sending jitters

And just when the global economy was returning to normal as coronavirus pandemic weakens, the Ukraine-Russia war has...

Published 09 Mar, 2022 08:24am

Business & Finance

Pakistan Refinery Limited announces to undertake $1.2bn expansion project

The Board of Directors of Pakistan Refinery Limited (PRL) has announced to undertake an expansion project worth $1.2...

Published 28 Dec, 2021 11:39am

Markets

China's oil imports in Nov from Saudi Arabia fall from a year earlier

BEIJING: China's crude oil imports from Saudi Arabia in November fell 13% from a year earlier, but the kingdom...

Published 20 Dec, 2021 11:03am

Print

Petroleum products’ import on deferred payment: Pakistan gets Murabaha facility

ISLAMABAD: Pakistan has secured International Islamic Trade Finance Corporation (ITFC) Murabaha Financing Facility ...

Updated 05 Nov, 2021 10:00am

BR Research

Is petroleum consumption really growing?

Petrol price has received much press, and for good reason too. What has gone rather unnoticed is the demand, which...

Published 28 Oct, 2021 07:25am

Markets

Oil dips on China plan to tap reserves, small US crude draw

NEW YORK: Oil prices eased on Thursday on China’s plan to release state oil reserves to reduce pressure on ...

Published 10 Sep, 2021 04:41am

Print

July: Over Rs65bn GST on crude oil import collected

ISLAMABAD: The Federal Board of Revenue (FBR) has collected over Rs65 billion sales tax on the import of crude oil...

Updated 28 Aug, 2021 01:39pm

Markets

India’s ethanol plan may drive a sugar bull market

NEW YORK: The Indian government’s plan to gradually increase ethanol blending in gasoline, as a way to cut...

Published 22 Jun, 2021 04:46am

Pakistan

Saudi Arabia agrees to start oil assistance for Pakistan, reports Financial Times

Supply on deferred payments set to start from July and is worth at least $1.5 billion

Updated 21 Jun, 2021 06:56pm

Markets

Oil prices climb

NEW YORK: Oil prices edged higher on Monday, supported by a weaker US dollar but gains were capped by concerns about...

Published 20 Apr, 2021 03:59am

Markets

Oil rises but remains rangebound as COVID-19 cases soar

However, the crude prices have remained rangebound in the past three weeks, with Brent between $60 and $65 a barrel and WTI at $57 to $62.
"Oil prices are entering a consolidation phase after swinging wildly last month," said oil broker PVM's Stephen Brennock.

Published 12 Apr, 2021 05:59pm

Markets

Oil loses $2/bbl 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 09:10pm

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 prices steady after sell-off driven by demand fears

Brent crude was up 2 cents at $63.30 a barrel.
WTI US crude rose 15 cents, or 0.3%, to $60.15. Both traded within a wide range of more than $2 a barrel on Friday.

Published 19 Mar, 2021 06:22pm

Markets

Oil falls as inventories rise and vaccine rollout stalls

Brent crude fell 50 cents, or 0.74%, to $67.50 a barrel by 1150 GMT after dropping 0.82% on Wednesday.
Short-term developments - stuttering vaccine rollouts and the build in US oil inventories - are driving sentiment, but the longer-term oil outlook is still encouraging.

Published 18 Mar, 2021 05:22pm

Pakistan

Oil import bill shrinks by 21.7pc to $6.44 billion in 8 months

The country imported oil products worth US $6445.601 million during July-February (2020-21) against the imports of $8232.294 million during July-February (2019-20).

Published 17 Mar, 2021 08:46pm

Markets

Oil slips further on Europe demand concerns

API report shows surprise drop in US crude inventories.
No policy shift expected by US Federal Reserve.
IEA says demand won't reach pre-pandemic level until 2023.

Published 17 Mar, 2021 08:31pm

Markets

Oil guzzler India says OPEC+ decision to hit economic recovery

As one of the largest crude-consuming countries, India is concerned that such actions by producing countries have the potential to undermine consumption-led recovery and more so hurt consumers, especially in our price-sensitive market.
"The decision by OPEC+ has saddened us. It is not good news for India, China, Japan, Korea and other consuming nations," Pradhan said.

Published 05 Mar, 2021 08:32pm