Tuesday, September 15 2026

Govt approves Rs75b fuel relief
The government on Monday approved Rs75 billion in petrol relief package for three months for motorcyclists and small car owners, which was equal to 16% of the projected monthly levy collection, a move that would provide only a temporary respite. The Economic Coordination Committee (ECC), which formally sanctioned the fuel package, also approved sale of 29.5% shares of Pakistan National Shipping Corporation (PNSC) to National Logistics Corporation (NLC) at Rs500 per share. The sale price was equal to the closing price of PNSC shares at the Pakistan Stock Exchange on Monday. NLC will make the payment of Rs29.2 billion in five installments.
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Oil prices rise as Saudi pipeline outage, fresh attacks raise supply concerns
Oil prices rose on Tuesday as concerns over supply disruptions persisted after attacks on Saudi Arabian energy infrastructure left the kingdom’s East-West pipeline offline and cast doubt on efforts to ease ​shipping risks in the Gulf. Brent crude futures rose $1.24, or 1.18%, to $106.93 a barrel at ‌0026 GMT, after climbing 1% previously, while US West Texas Intermediate futures were up $1.29, or 1.24%, at $102.65 a barrel, after gaining 1.3% in the previous session.
Related news categories: business misc oilgas-exploration oilgas-marketing

Monday, September 14 2026

Oil prices up over 3% following new strikes on Saudi, Strait of Hormuz
Oil prices rose more than 3% on Monday, after new Houthi strikes on Saudi Arabia and Iranian attacks on ships in the Gulf compounded supply concerns following the closure of a key Saudi oil pipeline. Brent crude futures rose $3.21, or 3.1%, to $107.82 per barrel as of 0340 GMT. WTI futures gained $3.17, or 3.2%, to $103.22 per barrel. “This follows a step-up in attacks on Saudi Arabian energy infrastructure, including targeting the crucial east-west pipeline,” said ING commodity strategists, although noting that it was unclear how severe any potential damage was or how long the pipeline would be out of action.
Related news categories: business misc oilgas-exploration oilgas-marketing

Friday, September 11 2026

Oil prices set to end week over $100 for first time in nearly 4 months
Oil prices rose on Friday and both major benchmarks are on track to end the week at over $100 a barrel for the first time since mid-May, as ​increasing attacks along key shipping routes in the Middle East fuel fears of a prolonged ‌disruption to supplies. Brent crude futures rose $1.05, or 1%, to $108.68 a barrel by 0045 GMT. US West Texas Intermediate crude rose 95 cents, also 1%, to $103.45 a barrel. Both benchmarks rose over 6% on Thursday.
Related news categories: business misc oilgas-exploration oilgas-marketing

Wednesday, September 09 2026

OGDC, MARI bring Lundali-1 gas well online
Lundali-1 well in Sindh’s Sukhpur-II Block has commenced gas production at 10 million standard cubic feet per day (MMscfd), with first gas achieved on September 06, 2026, adding fresh indigenous gas to Pakistan’s energy supply. The development was disclosed separately by Oil and Gas Development Company Limited (PSX: OGDC) and Mari Energies Limited (PSX: MARI) to the Pakistan Stock Exchange (PSX) on Wednesday. The well is currently producing 10 million standard cubic feet per day (MMscfd) of gas at a wellhead pressure of 2,000 pounds per square inch (psi), with the produced gas being supplied to Sui Southern Gas Company Limited (SSGC).
Related news categories: business misc oilgas-exploration oilgas-marketing stock-exchanges
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