Iraq discussed on Tuesday plans for investment in associated gas production at its largest oilfield, Rumaila, Iraq’s Oil Minister Ihsan Abdul-Jabbar Ismail said in a statement to Shafaq News agency. With BP as operator, the Rumaila oilfield produces 1.5 million barrels per day (bpd) of oil, or around a third of the crude oil pumped in OPEC’s second-largest producer after…
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Oil prices appear to be waiting for the presidential election before making any major moves, with prices falling due to rising Libyan oil production before climbing on positive news out of China Chart of the Week – Oil production outages have increased in 2020, cutting into global supply. – In 2020, oil disruptions have averaged 4.6 mb/d, reaching 5.2 mb/d at…
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ISLAMABAD: The International Islamic Trade Finance Corporation loaned $386 million to Pakistan for import of liquefied natural gas (LNG) and oil as a part of the $4.5 billion trade financing facility agreed for the country two years ago, the ministry of economic affairs said on Monday. The financing agreement signed between the International Islamic Trade Finance Corporation (ITFC), a subsidiary…
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The issues facing the various under-performing manufacturing sectors and the official measures taken for their recovery so far were reviewed at a meeting chaired by Prime Minister Imran Khan on October 1. Manufacturers from various sectors, including pharmaceutical, cement, textile, chemicals, house appliances etc presented their points of view. The prime minister was assisted by the country’s top economic managers…
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The Executive Director of the World Health Organization’s emergency program, Dr.Mike Ryan, has warned all countries of the world against negligence in following the measures to prevent the emerging coronavirus, from wearing a face mask, social distancing, etc. For his part, the Director-General of the International Organization, Dr. Tadros Adhanom, said – in a press conference, today / Monday /…
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Pakistan has received bids for two cargoes of liquefied natural gas (LNG) of 140,000 meters each from multinational commodity trading company Gunvor Singapore, a national daily reported. In response to an international tender issued by the state-owned Pakistan LNG Limited (PLL) in September, Gunvor Singapore placed the lowest bids at 14.2277 percent for 8-9 November and at 13.8377 percent for…
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