AIRLINK 61.49 Increased By ▲ 2.99 (5.11%)
BOP 6.25 Decreased By ▼ -0.01 (-0.16%)
CNERGY 4.15 Increased By ▲ 0.19 (4.8%)
DFML 16.24 Increased By ▲ 0.23 (1.44%)
DGKC 67.47 Decreased By ▼ -1.08 (-1.58%)
FCCL 17.84 Decreased By ▼ -0.01 (-0.06%)
FFBL 25.62 Increased By ▲ 0.12 (0.47%)
FFL 9.24 Increased By ▲ 0.04 (0.43%)
GGL 10.02 Increased By ▲ 0.22 (2.24%)
HBL 114.75 Increased By ▲ 0.75 (0.66%)
HUBC 112.57 Increased By ▲ 0.72 (0.64%)
HUMNL 6.61 Increased By ▲ 0.08 (1.23%)
KEL 4.44 Increased By ▲ 0.07 (1.6%)
KOSM 4.57 Decreased By ▼ -0.02 (-0.44%)
MLCF 38.02 Increased By ▲ 0.22 (0.58%)
OGDC 125.01 Decreased By ▼ -0.43 (-0.34%)
PAEL 22.53 Decreased By ▼ -0.02 (-0.09%)
PIAA 11.13 No Change ▼ 0.00 (0%)
PIBTL 6.48 Increased By ▲ 0.30 (4.85%)
PPL 108.21 Decreased By ▼ -0.79 (-0.72%)
PRL 27.91 Increased By ▲ 1.10 (4.1%)
PTC 10.78 Increased By ▲ 0.23 (2.18%)
SEARL 52.86 Increased By ▲ 0.16 (0.3%)
SNGP 66.57 Increased By ▲ 0.22 (0.33%)
SSGC 11.39 Increased By ▲ 0.37 (3.36%)
TELE 7.22 Increased By ▲ 0.08 (1.12%)
TPLP 11.91 Decreased By ▼ -0.09 (-0.75%)
TRG 77.93 Increased By ▲ 1.48 (1.94%)
UNITY 21.91 Increased By ▲ 1.50 (7.35%)
WTL 1.31 No Change ▼ 0.00 (0%)
BR100 6,499 Increased By 58.4 (0.91%)
BR30 22,266 Increased By 167.8 (0.76%)
KSE100 63,306 Increased By 490.1 (0.78%)
KSE30 21,296 Increased By 162.7 (0.77%)

oil output

Imperial Oil swings to quarterly profit helped by oil price recovery
Business & Finance

Imperial Oil swings to quarterly profit helped by oil price recovery

  • Calgary-based Imperial, which is majority-owned by Exxon Mobil Corp, is benefitting from higher global oil prices as fuel usage picks up from last year, when coronavirus pandemic-related lockdowns decimated demand.
  • The recovery, however, remains spotty with second and third waves of COVID-19 surging in various parts of the world, including Canada, and an uneven rollout of vaccines.
Published 30 Apr, 2021 06:35pm
Schlumberger signals improving international drilling activity
Business & Finance

Schlumberger signals improving international drilling activity

  • Schlumberger, which has been selling assets in North America, said it is benefiting from an inflection in global drilling activity which has picked up as oil prices climbed to $65.45.
  • Worldwide, the rig count has risen about 11.5% to 1,231 for the quarter ended in March, according to Baker Hughes data.
Published 23 Apr, 2021 05:40pm
Oil rises but remains rangebound as COVID-19 cases soar
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
Saudi Arabia to take action to protect oil facilities
World

Saudi Arabia to take action to protect oil facilities

  • Oil prices spiked briefly following Sunday's missile and drone assault on the kingdom, including on an oil storage yard at Ras Tanura, site of a refinery and the world's biggest offshore oil-loading facility.
  • "The Kingdom will take the necessary deterrent measures to protect its national capabilities," the prince said.
Published 10 Mar, 2021 05:50pm
Gulf countries get fiscal leeway after OPEC+ extends output cuts
Markets

Gulf countries get fiscal leeway after OPEC+ extends output cuts

  • These countries will still benefit from the higher oil revenue, as the forecast increase in oil price outweighs the lower output.
  • "The marked narrowing in the fiscal deficit with higher oil revenue gives further space to increase fiscal support to the economies."
Updated 08 Mar, 2021 10:16pm
Oil jumps on vaccine optimism, US stimulus
Markets

Oil jumps on vaccine optimism, US stimulus

  • US House passes $1.9 trillion COVID-19 relief plan.
  • China Feb factory activity growth drops.
  • Euro zone factories buzzing in Feb as demand soars.
  • OPEC+ meets on Thursday to discuss output.
Published 01 Mar, 2021 05:51pm
Indian Oil plans $4.5bn Panipat refinery expansion by Sept 2024
Business & Finance

Indian Oil plans $4.5bn Panipat refinery expansion by Sept 2024

  • Along with expanding capacity, IOC will install catalytic dewaxing and polypropylene units at its Panipat refinery in northern Punjab state.
  • IOC said expansion of the refinery would raise production of petrochemicals and value-added specialty products to improve its margins and help "de-risk the conventional fuel business of the company".
Published 26 Feb, 2021 06:02pm