Tag: oil
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Iran Links Strait of Hormuz Reopening to US Demands
Key Developments: Iran links Hormuz reopening to US fulfilment of its demands. Qalibaf demands sanctions relief and release of frozen Iranian assets. US says the Strait is open as diplomatic tensions persist. TEHRAN (Arab News) — August 19, 2026: Iran has said the Strait of Hormuz will remain closed until the United States fulfils conditions Tehran…
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US Threat to Venezuela Raises Global Oil & Security Alarm
Key Highlights Trump threatens military action against Venezuela, citing alleged narco-trafficking Critics and Venezuelan leadership accuse US of eyeing the world’s largest oil reserves Venezuela holds ~303 billion barrels — more than many major oil producers Regional and international tensions escalate; global energy markets worry CARACAS — December 3, 2025: The international community is on…
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U.S to ban all imports of oil and gas from Russia
The United States is banning all imports of oil and gas from Russia, US President Joe Biden has announced, in a move that aims to pressure Russian President Vladimir Putin to end the war in Ukraine
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KSA announces to financially aid Pakistan
The Kingdom of Saudi Arabia (KSA) announces to provide financial aid to Pakistan. The Saudi Fund for Development (SFD) announced the issuance of the generous directive to deposit. Sources have revealed that an amount of 3 billion USD will be submitted to the Central Bank of Pakistan. KSA aims to help the Government of Pakistan…
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Saudi Arabia will supply oil to Pakistan on late payment
Jhelum: Finance Minister Shaukat Tareen has said that the issue of obtaining oil from Saudi Arabia on late payment has been settled. Talking to media in Jhelum, Shaukat Tareen said that Saudi Arabia would facilitate Pakistan with $150 million per month which will amount to a collective $3.6 billion worth in two years. Shaukat Tareen…
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FIA urged to stop harassing oil marketing companies
Lahore: The problems faced by the oil marketing companies should be resolved immediately. The FIA should stop harassing the oil marketing companies. The licenses of the oil marketing companies should be renewed immediately. There is a danger of an oil crisis in the country due to non-renewal of the licenses. The sector, which…
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Oil Found in the Federal Capital of Islamabad in the H13 Area
Oil was found in the Federal Capital of Islamabad during excavation of the H-13 area. Authorities have since cordoned off the place to prevent thievery. According to details, during the excavation of the H-13 area in Islamabad, oil erupted from the earth as the ground was being bore into for water. Deputy Commissioner Islamabad Muhammad…
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A country-wide strike may lead to a petroleum crisis
A country-wide strike is underway against the rejection of demands of the Oil Tankers Association. In lieu of this, the supply of petroleum products has been suspended across the country. There is a fear of petroleum shortage across the country. According to reports, the government and the association will reportedly hold talks today to discuss…
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Oil Tankers Association Announces a Nationwide Strike
Karachi: According to reports, Oil Tankers Association has announced a nationwide strike from June 24. Addressing an emergency press conference at his office, Abdullah Afridi, President, Oil Tankers Contractors Association, said that despite the ban on commercial and illegal loading by OGRA, they are not being stopped. He said that they will be on strike…
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Saudi Arabia offers to Supply Oil to Pakistan on Loan
ISLAMABAD: Saudi Arabia wants to supply oil to Pakistan. Finance Minister Shaukat Tareen has said that Pakistan is reviewing the offer made by Saudi Arabia. According to details, after Saudi Arabia re-offered oil to Pakistan on loan, Federal Finance Minister Shaukat Tareen said that talks are underway after reviewing Saudi Arabia’s offer. Pakistan is trying…