The Chinese Ministry of Foreign Affairs says that in principle, our way is open for the trade of crude oil in Chinese currency. The Chinese Foreign Ministry has given this statement on Pakistan’s payment to Russia in Chinese currency for the purchase of crude oil. China says that this is normal trade cooperation between Pakistan…
Riyadh: Apart from oil, Saudi Arabia is also developing in other sectors. The non-oil GDP of the country is expected to increase significantly in the second quarter of this year. According to Urdu News, a business survey revealed that Saudi Arabia’s non-oil sector gained significant momentum in May as the kingdom’s economic diversification strategy continues….
The United Arab Emirates and Kuwait have decided to continue voluntary cuts in oil production in line with the quotas set at the OPEC Plus meeting. According to foreign media, the United Arab Emirates has said that it will voluntarily continue to cut oil production by 144,000 barrels per day until the end of 2024….
Diesel tank explodes in UAE; Photo: File Abu Dhabi: A terrible fire broke out in an oil depot in the industrial area of the United Arab Emirates, resulting in the death of 2 people and injuries to 3 people. According to Arab media, a diesel tank exploded in an oil depot of a warehouse of…
Vienna: Saudi Arabia has decided to cut oil production, and OPEC cuts have been extended until 2024. Reuters Saudi Arabia has committed to major oil cuts in July to boost oil prices, with OPEC+ also extending the deal to 2024. Saudi Arabia’s energy ministry said the country’s output would fall to 9 million barrels a…
Production cuts may be extended if necessary, Saudi Arabia: Photo: File Vienna: Saudi Arabia has announced to cut oil production in July to boost prices. An agreement was reached in Vienna between the oil producing countries regarding production. Various measures related to oil production and prices were reviewed in the meeting. Saudi Arabia’s Energy Minister…
Josep Borrell, file photo EU foreign affairs chief Josep Borrell says that if India buys cheap oil from Russia and supplies it to Europe after refining it, it could be banned. He has expressed these views while giving an interview to a news agency, a day before the first ‘EU-India New Trade Council’ meeting to…
Iran seized an oil tanker in the Strait of Hormuz. The US Navy says that Iran’s Revolutionary Guards seized a Panamanian-flagged oil tanker in the middle of the Strait of Hormuz. It should be noted that this is the second incident of Iran seizing an oil tanker within a week. According to the US Navy,…
Iran seizes Marshall Islands oil tanker in Gulf of Oman According to the US Navy, the Iranian Navy has seized an oil tanker off the Marshall Islands. The US Navy further says that the Iranian Navy’s action in the Gulf of Oman is against international law. The US Navy is monitoring the situation of the…
Pakistan signed an agreement to buy cheap petrol from Russia; Photo: File Washington: The spokesperson of the US Ministry of Foreign Affairs has said that Pakistan is not opposed to the agreement to buy oil from Russia, each country is free to enter into agreements keeping its interest in front. According to the World News…
