Oil Crisis
Global Oil Tanker Crisis Pushes Shipping Costs Above $1 Million a Day
A shortage of large oil tankers has emerged as a major pressure point for global energy markets, with disruptions around the Strait of Hormuz pushing…
Govt Launches Fuel-Saving Austerity Drive Amid Rising Oil Prices
The federal government has ordered a three-month austerity campaign amid rising global petroleum prices, cutting fuel supply for official vehicles by 50 percent and grounding…
Pakistan Eyes $6.7 Billion Saudi Oil Lifeline on Soft 15-Year Terms
Pakistan has requested a $6.7 billion concessional oil financing facility from Saudi Arabia to be repaid over 15 years, as the government moves to secure…
Pakistan Explores Iranian Oil Imports as Refiners Assess Viability
Pakistan Refinery Ltd (PRL) previously imported Iranian crude under a long-term contract with the National Iranian Oil Company, but purchases were halted when US sanctions…
Global Oil Prices Surge Amid UAE Nuclear Plant Drone Attack
Global oil prices recently surged again. Efforts to end the US-Israel war on Iran have stalled entirely. A drone attack targeted the Barakah nuclear power…
Oil Prices Fall as Strait of Hormuz Reopens
Global oil prices fell sharply following a conditional ceasefire agreement enabling the reopening of the Strait of Hormuz, a critical route for global energy shipments.…
Markets to Close Early Under Govt New Policy
Pakistan has announced new fuel conservation measures, prioritising early market closures and increased daytime business activity to reduce electricity consumption amid global supply disruptions. Markets…
Federal Schools and Colleges to Remain Closed from March 16 to March 31
The Federal Directorate of Education (FDE) has announced a two-week closure of all schools, colleges and educational institutions under its administrative control from March 16…
Oil Shipments Begin Arriving at Port Qasim Amid Global Tensions
Pakistan’s fuel situation has started to ease after concerns emerged over possible shortages following tensions in the Middle East. Several fuel shipments have begun arriving…
