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oil production

Russia's Transneft posts 26pc fall in 2020 net profit on OPEC+ deal, COVID-19

Revenues fell 10% to 962.4 billion roubles from 1.06 trillion roubles in 2019.
Transneft handles more than 90% of the oil produced in Russia, which cut output for the first time since 2008 last year to its lowest level since 2011.

Published 30 Mar, 2021 05:46pm

Markets

Oil prices rise over 3pc on fears Suez blockage may last weeks

Brent, WTI rise about 2% but set for 3rd weekly loss.
Ship blocking Suez may take weeks to free-salvage firm.
Shipping rates rise, oil and gas tankers diverted.
UAE's ADNOC deepens supply cuts to Asia in June –sources.

Published 26 Mar, 2021 07:41pm

Markets

Oil prices rise on fears Suez blockage may last weeks

Brent, WTI rise about 2% but set for 3rd weekly loss.
Ship blocking Suez may take weeks to free-salvage firm.
Shipping rates rise, oil and gas tankers diverted.
- UAE's ADNOC deepens supply cuts to Asia in June –sources.

Published 26 Mar, 2021 05:16pm

Markets

OPEC+ compliance with oil cuts rises to 113pc in February

Compliance from members of the Organization of the Petroleum Exporting Countries reached 124%, a figure which includes the additional voluntary cut from Saudi Arabia, said one of the sources.
Compliance from non-OPEC members in the alliance reached 94%, the source added.

Published 22 Mar, 2021 10:07pm

Markets

Oil steadies on demand recovery expectation despite European lockdowns

A third of French people enter new lockdown.
Demand slow, but Aramco CEO predicts recovery.
US rig count rises to highest since April.

Published 22 Mar, 2021 08:37pm

Markets

Oil steadies on demand recovery hopes despite European lockdowns

A third of French people enter new lockdown.
Demand slow, but Aramco CEO predicts recovery.
US rig count rises to highest since April.

Updated 22 Mar, 2021 06:29pm

Markets

Pump prices join oil's wild ride but risk slamming brakes on recovery

Oil prices have risen by more than 30% this year. Still, OPEC+, which groups oil producers from the Organization of the Petroleum Exporting Countries and others, is holding back on raising supply, wary about risks to economic recovery needed to support a rebound in fuel demand.
"It is ... extremely risky in its assumptions that high prices will not significantly affect economic recovery (and) oil demand recovery," the bank said.

Published 17 Mar, 2021 08:16pm

Markets

Oil drops as inventories and COVID vaccine halt threaten demand

Germany, France, Italy suspend use of AstraZeneca shot.
Move threatens EU's already slow vaccination campaign.
US inventories seen rising in data releases this week.
US refineries take time to recover from 'big freeze'.

Updated 16 Mar, 2021 10:02pm

Markets

Brent crude hits $70 as China energy demand outlook brightens

China Jan-Feb refinery output up 15% - data.
China Jan-Feb industrial output beat expectations – data.
Saudi Arabia cuts April crude volumes to some Asian buyers.

Published 15 Mar, 2021 05:25pm

Markets

Oil rises to $69 as focus returns to tighter market

Saudi Arabia says it thwarted missile and drone attacks.
OPEC+ offers boost by deciding to keep supply steady.
US crude inventories expected to fall in weekly reports.

Updated 09 Mar, 2021 09:30pm

Houthis say they fire missiles at Saudi oil, military facilities

SANAA: Yemen's Houthi forces on Sunday fired drones and missiles at a Saudi Aramco oil company facility at Ras ...

Updated 08 Mar, 2021 09:23am

Markets

US crude output, refining use slump on Texas storms: EIA

Crude stocks at the Cushing, Oklahoma, delivery hub rose by 2.8 million barrels, and net US crude imports rose by 249,000 bpd, the EIA said.
US gasoline stocks rose by 12,000 barrels to 257.1 million barrels, compared with expectations for a 3.1 million-barrel drop.?

Published 24 Feb, 2021 09:23pm

Markets

Oil producers eye long road to recovery as Texas begins to thaw

The shut in oil production represents 2 to 4% of global supply, so a slow recovery would tighten worldwide crude markets and may bolster prices that already hit a one-year peak earlier this week.
"I think it will be a while before things get better out in the field," one executive at a Permian producer said, on condition of anonymity.

Published 22 Feb, 2021 06:53pm

Markets

India urges OPEC+ to ease output cuts to rein in oil prices

The price-sensitive Indian consumers are affected by rising petroleum product prices.
Besides hitting fuel demand, higher oil prices could potentially hinder economic growth in developing countries including India, he said.

Published 17 Feb, 2021 08:37pm

Markets

Oil edges higher but demand fears set in

Brent crude was up 29 cents, or 0.5%, at $61.43 a barrel.
Prices have risen over recent weeks partly owing to oil production cuts from the Organization of the Petroleum Exporting Countries (OPEC) and other producers in the group known as OPEC+.

Published 12 Feb, 2021 09:02pm

Markets

Iraq expects oil exports to average 3.6mn bpd in February

An average of 2.9 million bpd in exports would come from southern Iraq, he told a news briefing in Baghdad.
The minister said he anticipated an oil price of $58 to $63 in 2021. He also said OPEC and its allies were expected to keep their output policy.

Published 10 Feb, 2021 05:40pm

Business & Finance

Argentina's YPF sweetens $6.2bn debt offer after investor backlash

The firm, which is spearheading development of Argentina's huge Vaca Muerta shale reserves of oil and gas.
The modifications mainly seek to strengthen the guarantee structure of the bond backed with export flows due in 2026.

Published 26 Jan, 2021 07:05pm

Markets

Norway expects slower oil output growth in 2021-2023

The Norwegian Petroleum Directorate (NPD) expects oil production to grow by 3.6% this year to 1.76 million barrels per day (bpd).
The forecast for 2024 was meanwhile raised by 2.6% to an expected 16-year high of 2.1 million bpd.

Published 14 Jan, 2021 06:12pm

Markets

OPEC+ to continue talks for deal on February production

The two heavyweights among the producers gathering on Tuesday, Saudi Arabia and Russia, are on opposing sides of the debate, with Riyadh urging caution and Moscow keen to boost production.

Published 05 Jan, 2021 04:49pm

Markets

Russian annual oil output falls for the first time since 2008 on OPEC+ deal, pandemic

In tonnes, oil and gas condensate output dropped to 512.68 million in 2020 from a post-Soviet record-high of 560.2 million, or 11.25 million bpd, in 2019.

Published 02 Jan, 2021 05:45pm

Markets

New Year OPEC+ meeting to decide production levels

Despite a pick up in prices towards the end of last year, the market levels for black gold remain uncertain.

Published 02 Jan, 2021 04:36pm

World

Aramco may have to sell assets, borrow more to maintain Saudi dividend

Oil giant Aramco, whose dividend remains vital to helping Saudi Arabia contain a huge deficit, may have to sell assets and borrow more to fulfil its fiscal role amid uncertainty in oil prices.
Aramco, the world’s largest oil producer, listed in 2019 in a record $29.4 billion share sale, but the government still owns 98.2% of the group.

Published 17 Dec, 2020 11:32am

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Jul 26	278.40
USD PKR Interbank Buying / Jul 26	278.20
USD to Japanese Yen / Jul 26	153.77
USD to Swiss Franc / Jul 26	0.88
Pound Sterling to USD / Jul 26	1.29
Euro to USD / Jul 26	1.09

Stock	Volume
S&P 500 / Jul 25	5,399.22
Nasdaq / Jul 25	17,181.72
Dow Jones / Jul 25	39,935.07
India Sensex / Jul 26	80,709.64
Tokyo Nikkei / Jul 26	37,865.35
Hang Seng / Jul 26	17,058.55
FTSE 100 / Jul 26	8,255.78
Germany DAX 30 / Jul 26	18,346.62

Item	Value
Crude Oil USD/Barrel / Jul 26	78.38
Karachi Cotton PKR/37.32 KG / Jul 26	17,035
Gold 10 Grams PKR / Jul 26	215,621
Gold Spot USD/Ounce / Jul 26	2,374.19
Cotton US¢/pound / Jul 26	68.62
Petrol/Litre / Jul 27	275.60

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Jul 27 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Jul 27 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Jul 27 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Jul 27 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Jul 27 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Jul 27 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Jul 27 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Jul 27 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Jul 27 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Jul 27 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Jul 27 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Jul 27 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Jul 27 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Jul 27 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Jul 27 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Jul 27 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Jul 27 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Jul 27 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Jul 27 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Jul 27 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Jul 27 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Jul 27 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Jul 27 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Jul 27 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Jul 27 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Jul 27 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Jul 27 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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