Wednesday, September 2, 2026 · Petrol Rs 342.79 · USD/PKR 277.50 · Gold Rs 466136/tola
Breaking
Militant Attacks Increase but Fatalities Decline in August Amid Sustained CT Pressure: Think Tank Pakistan to Provide First Secretary General of Makkah Defence Alliance Shehbaz Sharif Tells SCO Summit Water “Must Never Be Weaponised” Xi, Putin and Modi Join SCO Plus Summit in Bishkek as Pakistan Takes Chair Shehbaz Sharif Takes SCO Chair for 2026-27; Islamabad to Host Next Summit Shehbaz Sharif Proposes SCO Framework for Sovereign AI Infrastructure Cancelled in 2024 Gold Rate in Pakistan Falls Rs1,800 a Tola as Petrol Rises 77 Paise Pakistan Send Home Seven Players and the Coach; Mickey Arthur Calls It “Ridiculous” US Firm to Take Over Venezuela Oilfields Run by Chinese, Russian Companies Maryam Nawaz Orders Dedicated Motorcycle Lanes on Major Lahore Roads Brent Crude Holds Above $91 as Hormuz Supply Risk Returns India Firecracker Blast Kills 11, Eight of Them Children; Licence Was Cancelled in 2024 Nepal-China Flood Death Toll Passes 1,000 With 4,462 Still Missing Rawalpindi Schools Closed as 201mm Rain Breaks a 16-Year Record Ishaq Dar Meets Araghchi at SCO Summit, Presses Islamabad MoU Gold Rate in Pakistan Today Holds at Rs467,936 a Tola as Fuel Prices Stay Put Seven Working Days Pakistan Food Inflation Splits: Flour Up 45pc, Chicken Down 24pc Pakistan, Saudi Arabia Set $3bn Farm Export Target for Two Years

Articles for tag: assessment, Dollar, falls, high, Inflation, Latest, Oil, oil prices, Pakistan, prices, Rupee

November 1, 2023

News Desk

Rupee falls amid high oil prices

KARACHI: The Pakistani currency remained under pressure against the US dollar on Tuesday amid the Middle East crisis and volatile global oil prices as it touched a fresh three-week low of slightly below Rs 281.50/$ in the interbank market. The rupee fell 0.18%, or Rs0.52, to close at Rs281.47 against the dollar, according to State Bank of Pakistan (SBP) data. It was the seventh consecutive business day of decline in the currency’s value, which cumulatively lost 1.65%, or Rs 4.64, in that period. Market talks indicate that exporters have slowed down selling of US dollars in the market as they

October 30, 2023

News Desk

Israel-Hamas war could send oil prices up to $157, says World Bank

Pumpjacks are seen during sunset at the Daqing oil field in China’s Heilongjiang province, August 22, 2019.—Reuters Global oil prices averaged $90 per barrel in the 4th quarter. Oil prices have only risen about 6% since the start of the Israel-Hamas war. The major outage could reduce global supply by 6-8 million barrels per day. The latest World Bank report predicts that global oil prices could reach $140 to $157 a barrel in the event of a “major disruption” scenario in the Middle East, similar to the impact of the 1973 Arab oil embargo. The report says global oil prices

December 16, 2022

The Pakistan Daily

Discounted Russian oil not ‘a reality,’ says FM Bilawal Bhutto

Foreign Minister Bilawal Bhutto Zardari — who is in the US for a seven-day visit — has said that Pakistan “is not pursuing or receiving” any discounted energy from Russia. “As far as discounted rates, no one is giving discounted rates for oil these days,” Bhutto-Zardari told reporters at the United Nations. “That’s not a reality. It is true that we’re actively pursuing ways and means to address the energy shortfalls and difficulties we’re facing in Pakistan.” When asked about a $60-per-barrel cap imposed by the Group of Seven states and the European Union on Russian seaborne oil over Russia’s

December 5, 2022

The Pakistan Daily

Russia to provide fuel to Pakistan at discounted rates: Musadik Malik

ISLAMABAD: State Minister for Petroleum Musadik Malik revealed on Monday that Russia has decided to provide crude oil, petrol, and diesel to Pakistan at discounted rates. Addressing a press conference today, the petroleum minister stated that talks between Pakistan and Russia proliferated with the interest of the country at the forefront. “Russia has decided to provide Pakistan crude at discounted rates…this is the oil that refineries use to produce diesel and petrol. Russia will also give petrol and diesel to Pakistan at reduced prices,” he stated. He furthered that with discounted Russian fuel, all problems in the energy sector will be resolved.

June 13, 2022

The Pakistan Daily

No agreement on cheaper oil, wheat with Pakistan, says Russian envoy

ISLAMABAD: Russian Ambassador to Pakistan Danila Ganich has said that a trade deal worth $790 million was signed with Pakistan out of which, it was agreed, $212 million would be spent on Russian wheat. While speaking with the private news channel, Ganich said, “In 2020, an MoU was signed between the Ministry of Agriculture of Russia and the Ministry of Food Security of Pakistan in this regard.” “I confirm that no MoU has been signed on the trade of wheat and oil at cheaper prices with Pakistan,” Ganich said while replying to a question regarding Imran Khan’s claims that Russia

June 1, 2022

The Pakistan Daily

Miftah sets conditions for buying cheap Russian oil

Finance Minister Miftah Ismail said that Islamabad has asked both Russia and Ukraine to sell it wheat, stressing that sanctions on Moscow mean it will be “difficult for him” to imagine buying oil from it. “We have asked Ukraine and Russia — whichever country can sell us wheat, we’d be happy to buy wheat from them,” said Ismail in response to a question during an interview with CNN’s Becky Anderson late Tuesday evening. Anderson then asked if Russian oil was “out of the question”. “The previous government wrote a letter to Russia — that letter was not responded to. Russia has

March 26, 2022

The Pakistan Daily

Houthis attack Aramco oil facility in Saudi Arabia’s Jeddah

RIYADH: The Saudi-led coalition in Yemen said that an Aramco oil facility in Saudi Arabia’s Jeddah was attacked by Houthis.  According to the details, a coalition statement cited by the Saudi state news agency SPA said that Saudi Aramco’s Bulk Plant in Jeddah was targeted with an “act of aggression” by Iran-backed Houthi militia. The statement added that following the “hostile” attack, a fire erupted in tanks in the oil facility, however, it was controlled, and no casualties were reported. In Yemen, Saudi Arabia leads a coalition battling the Iran-backed Houthis, who seized Yemen’s capital of Sanaa in September 2014.

February 24, 2022

Raja Furqan Ahmed

Russia invades Ukraine: Global oil prices surge to $100 a barrel

MOSCOW: Brent oil surged to $100 a barrel for the first time since 2014 as Russia’s invaded Ukraine. According to the details, Russia is the world’s second-largest oil producer, which mainly sells crude to European refineries, and is the largest supplier of natural gas to Europe, providing about 35% of its supply. U.S. crude surged more than 3% at one point to a high of $96. The contract ended the session 1.4% higher at $92.35 per barrel. Brent traded as high as $99.50, before settling at $96.84 per barrel for a gain of 1.52%. An index of European banking stocks fell more than 4%

November 14, 2021

The Pakistan Daily

Schedule prepared as domestic consumers to get gas 3 times a day

ISLAMABAD: The Ministry of Petroleum and the Sui Northern Gas Private Limited Company (SNGPL) have formulated a new schedule regarding gas supply during the winter season as domestic consumers will be able to get gas for a few hours in the day. According to the sources, the ministry of petroleum has prepared a schedule for around 13 hours long load shedding of gas in a day during the winter season. According to sources, as per schedule gas will be available to the users in the morning from 5.30 am to 8:30 am, in lunchtime the gas will supply will continue

July 30, 2021

The Pakistan Daily

OMAP calls for reducing turnover tax for OMCs to 0.25%

ISLAMABAD: Oil Marketing Association Pakistan (OMAP) on Friday once again called on the government to remove the anomaly in the levying of turnover tax applicable to the oil marketing sector by linking it to margins earned by the Oil Marketing Companies (OMCs) and reducing its rate to 0.25 per cent. Dr Ilyas Fazil, Chief Executive Officer of OMAP, a representative body of Oil Marketing Companies (OMCs), in a letter to Finance Minister Shaukat Tarin said, “The rate of turnover tax (currently @ 0.75%) should be rationalized/aligned to remove all elements of discrimination and be reduced to 0.25% in order to

Hamza Azhar SalamEditor — Hamza Azhar Salam · Write to us with suggestions or tips
Powered by: Frontpage.dev
WP Twitter Auto Publish Powered By : XYZScripts.com