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Chevron’s third-quarter profit slumps

HOUSTON: Chevron posted a third-quarter profit that missed Wall Street estimates by a wide margin, sending its share...

Published 30 Oct, 2023 05:24am

Business & Finance

Exxon secures lead in top US oilfield with $60bn buy of shale rival Pioneer

NEW YORK/HOUSTON: Exxon Mobil agreed to buy U.S. rival Pioneer Natural Resources in an all-stock deal valued at...

Published 11 Oct, 2023 05:47pm

Markets

Hascol’s loss nearly doubles to Rs14.5bn in 2022

Despite higher net sales and gross profit, Hascol Petroleum Limited sustained a massive loss after tax (LAT) to the...

Published 03 Aug, 2023 03:23pm

Business & Finance

Exxon sues EU in move to block new windfall tax on oil companies

NEW YORK: US oil major Exxon Mobil Corp is suing the European Union in a bid to force it to scrap the bloc’s new...

Updated 30 Dec, 2022 08:42am

Business & Finance

FY22: PSO’s profit skyrockets to Rs95.7bn, up 223% driven by strong sales

Earnings per share clock in at Rs194.35 compared to EPS of Rs62.63 in FY21
Net sales during FY22 clock in at mammoth Rs2.54 trillion

Published 26 Aug, 2022 04:57pm

Markets

Petrobras and EIG near deal for Bolivia-Brazil gas pipeline

SAO PAULO/RIO DE JANEIRO: State-run Brazilian oil company Petrobras is close to reaching an agreement to sell to US...

Updated 15 Mar, 2022 06:40am

Markets

W Africa Crude: Nigeria sharply raises official selling prices

LONDON: Nigeria raised its crude official selling prices (OSPs) for December on Tuesday while more January export...

Published 24 Nov, 2021 05:18am

Business & Finance

Rolls-Royce partners with Shell in sustainable aviation fuel push

The pair signed a memorandum of understanding (MoU) on Wednesday which Rolls-Royce said would help with plans to certify 100% SAF for use in planes.

Updated 30 Jun, 2021 07:47pm

Business & Finance

At Brazil's Petrobras, a 'Spartan' military man takes the reins

President Jair Bolsonaro announced the 71-year-old Luna would take the helm of Petroleo Brasileiro SA, as the firm is formally known, in a Facebook post in February.
Petrobras shares fell sharply when Luna's predecessor, Roberto Castello Branco, was forced out after the group hiked domestic fuel prices several times in February, angering Bolsonaro.

Published 12 Apr, 2021 05:57pm

Business & Finance

Petrobras minority shareholders ask for cumulative voting in assembly

Petrobras also said in a securities filing that minority shareholders proposed a new candidate for the board, banker Jose Joao Abdalla Filho, owner of Banco Classico and energy and agribusiness companies. His name was proposed by investment funds holding Petrobras shares.

Published 09 Apr, 2021 06:05pm

Business & Finance

Petrobras requests ministry clarify Bolsonaro pricing comments; shares slide

In a securities filing, Petrobras said it asked the ministry about information that "should have been released to the market." The ministry has yet to respond, Petrobras said.
Bolsonaro's remarks on Wednesday helped wipe out gains in Petrobras' preferred and ordinary shares and they closed that session virtually flat. The preferred shares closed 0.08% down. The selling continued on Thursday.

Published 08 Apr, 2021 08:48pm

Markets

Oil drops below $64 as rising OPEC+, Iranian output weighs

OPEC+ to ease some output cuts between May and July.
Iran is also increasing output and exports.
Iran, US to hold indirect nuclear talks on Tuesday.

Published 05 Apr, 2021 06:50pm

Markets

Oil surges $2 after OPEC+ extends output cuts

Saudi Arabia surprises with continued voluntary cuts.
OPEC+ producers keep curbs, agree only small output boost.
Decision could affect oil inventories into 2022.
Brent and WTI on track for weekly gains.

Published 05 Mar, 2021 08:28pm

Markets

Oil holds close to 13-month high, supported by sharp drop in US output

Fed Chairman Jerome Powell nixes rate hike fears.
US dollar languishes near three-year lows.
Crude prices hit highest level since January 2020.
OPEC+ to meet on March 4, discuss modest output increase.

Published 25 Feb, 2021 09:37pm

Markets

Shares in Brazil's Petrobras rebound after Monday plunge

Shares in Petroleo Brasileiro SA, as the company is officially known, plunged 22% on Monday, wiping out 71 billion reais ($13 billion) in market value.

Published 23 Feb, 2021 08:06pm

Markets

Ecopetrol proven reserves finished 2020 down 6.5pc

The decline in 1P reserves was mainly caused by the 32% price drop in hydrocarbon prices, Ecopetrol said.
The Brent price used for valuation in 2020 was $43 per barrel, compared with $63 per barrel in 2019, implying a decrease of 215 million boe, the company said.

Published 19 Feb, 2021 07:09pm

Markets

Brazil oil regulator ANP notifies Petrobras, BR Distribuidora of aviation gasoline investigation

ANP said aviation gasoline produced by Petroleo Brasileiro SA in January did not meet required standards and that its auditors have been at the Presidente Bernardes refinery investigating the issue since Feb. 3

Published 05 Feb, 2021 06:02pm

Markets

OPEC experts meet as rising oil prices mask demand worries

Oil has rallied from historic lows reached last year as demand collapsed due to the pandemic thanks to record OPEC+ output cuts.
"A positive start," said one OPEC delegate. "The group wants a quick meeting with a positive agenda."

Published 02 Feb, 2021 07:01pm

Markets

Oil prices extend rally as producers restrain output

OPEC output increase smaller than expected – poll.
UBS sees Brent at $63 mid-year, Goldman at $65.
BP cites declining product demand, retail sales.
US blizzard offers hope for product demand.

Updated 02 Feb, 2021 08:13pm

Markets

Oil prices gain as inventories fall and demand picks up

Positive risk sentiment boosts prices, says UBS analyst.
Goldman Sachs sees oil price rising to $65 by July.
OPEC oil output rose in January, but less than forecast.

Published 01 Feb, 2021 07:04pm

Markets

Oil above $56 as lower US stockpiles outweigh COVID and demand concerns

API says US crude inventories fell by 5.3 million barrels.
China posts lowest daily rise in COVID-19 cases in over 2 weeks.
Coming up: US EIA oil supply report at 1530 GMT.

Updated 27 Jan, 2021 11:23pm

Markets

Iran's oil exports rise in January despite sanctions

Iranian crude exports rise to 600,000-700,000 bpd in January.
Iran lawmaker says shipments reach 900,000 bpd.
Hard to know final destinations due to ship-to-ship transfers.

Published 26 Jan, 2021 08:46pm

Business & Finance

Venezuela's PDVSA halts operations at 310,000 bpd Cardon refinery

Two of the people said the crude supply shortage arose due to problems at a pipeline supplying crude to the plant.
Workers as of Monday were attempting to restart one of the distillation units, three of the people said.

Published 26 Jan, 2021 08:00pm

Markets

Kazakhstan has restored oil output after power outages

Daily oil production was restored to 227,200 tonnes on Jan. 25 from about 195,700 tonnes on Jan. 21 and 182,774 tonnes on Jan. 20.
Still, production this month lags plans by around 660,000 tonnes, a source familiar with the data said.

Published 26 Jan, 2021 06:41pm

Markets

OPEC ‘cautiously optimistic’ oil market will recover in 2021

We all agree that the recovery is fragile, there are still more uncertainties, but we are cautiously optimistic that the recovery will materialise this year.
This year the way we see it is a year of recovery, whether it's going to be the end of the year where we are supposed to reach the balance or the beginning of 2022.

Updated 19 Jan, 2021 11:14pm

Business & Finance

Brazil's Petrobras CEO denies claims of 'predatory' fuel pricing policy

Branco said in the Wednesday edition of daily Valor Econômico that the claims amount to a personal "professional offense" against him and the government's economic policymakers.
As graduated economists ... we learned over 40 years ago that price controls are part of a museum of ineffective weapons to fight inflation.

Published 13 Jan, 2021 09:18pm

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Dec 18	278.55
USD PKR Interbank Buying / Dec 18	278.25
USD to Japanese Yen / Dec 18	153.63
USD to Swiss Franc / Dec 18	0.89
Pound Sterling to USD / Dec 18	1.27
Euro to USD / Dec 18	1.05

Stock	Volume
S&P 500 / Dec 17	6,050.61
Nasdaq / Dec 17	20,109.06
Dow Jones / Dec 17	43,449.90
India Sensex / Dec 18	80,231.76
Tokyo Nikkei / Dec 18	39,081.71
Hang Seng / Dec 18	19,857.31
FTSE 100 / Dec 18	8,222.99
Germany DAX 30 / Dec 18	20,267.35

Item	Value
Gold 10 Grams PKR / Dec 17	241,860
Petrol/Litre / Dec 18	252.10
Crude Oil USD/Barrel / Dec 18	70.43
Karachi Cotton PKR/37.32 KG / Dec 18	17,585
Gold Spot USD/Ounce / Dec 18	2,644.54
Diesel/Litre / Dec 18	255.38

Gainers
Losers
Leaders

Stock	Price
LSE Capital / Dec 18 LSE Capital Limited(LSECL)	6.70 ▲ 1.00 (17.54%)
S.G.Power / Dec 18 S.G. Power Limited(SGPL)	9.17 ▲ 1.00 (12.24%)
Faran Sugar (R) / Dec 18 Faran Sugar Mills Limited (R)(FRSMR)	9.43 ▲ 1.00 (11.86%)
Gulshan Sp. / Dec 18 Gulshan Spinning Mills Limited(GSPM)	4.47 ▲ 0.42 (10.37%)
Aisha Steel Mill / Dec 18 Aisha Steel Mills Limited(ASL)	11.06 ▲ 1.01 (10.05%)
Oilboy Energy / Dec 18 Oilboy Energy Limited(OBOY)	11.50 ▲ 1.05 (10.05%)
Suhail Jute / Dec 18 Suhail Jute Mills Limited(SUHJ)	61.55 ▲ 5.60 (10.01%)
Attock Cement / Dec 18 Attock Cement Pakistan Limited(ACPL)	259.27 ▲ 23.57 (10.00%)
AL-Ghazi Tractors / Dec 18 Al-Ghazi Tractors Limited(AGTL)	564.23 ▲ 51.29 (10.00%)

Stock	Price
National Bank / Dec 18 National Bank of Pakistan(NBP)	66.38 ▼ -7.38 (-10.01%)
First Imrooz Mod. / Dec 18 First Imrooz Modaraba(FIMM)	180.01 ▼ -19.99 (-10.00%)
Imperial Limited / Dec 18 Imperial Limited(IML)	20.16 ▼ -2.24 (-10.00%)
J.A.Textile / Dec 18 J.A. Textile Mills Limited(JATM)	44.37 ▼ -4.93 (-10.00%)
Macter Int. Ltd / Dec 18 Macter International Limited(MACTER)	331.40 ▼ -36.82 (-10.00%)
Mari Petroleum / Dec 18 Mari Petroleum Company Limited(MARI)	728.78 ▼ -80.98 (-10.00%)
Synthetic Prod / Dec 18 Synthetic Products Enterprises Limited(SPEL)	45.89 ▼ -5.10 (-10.00%)
Biafo Ind. / Dec 18 Biafo Industries Limited(BIFO)	198.85 ▼ -22.08 (-9.99%)
Bilal Fibres / Dec 18 Bilal Fibres Limited(BILF)	12.61 ▼ -1.40 (-9.99%)

Stock	Volume
WorldCall Telecom / Dec 18 Worldcall Telecom Limited(WTL)	151,921,663 ▼ -0.15
Pak Elektron / Dec 18 Pak Elektron Limited(PAEL)	107,502,606 ▲ 0.34
Cnergyico PK / Dec 18 Cnergyico PK Limited(CNERGY)	67,234,901 ▼ -0.51
B.O.Punjab / Dec 18 The Bank of Punjab(BOP)	60,136,151 ▲ 0.13
Pak Refinery / Dec 18 Pakistan Refinery Limited(PRL)	55,973,468 ▼ -1.00
K-Electric Ltd. / Dec 18 K-Electric Limited(KEL)	46,669,770 ▼ -0.33
Sui South Gas / Dec 18 Sui Southern Gas Company Limited(SSGC)	42,923,281 ▲ 1.67
PIA Holding Co.Ltd / Dec 18 PIA Holding Company Limited(PIAHCLA)	36,897,118 ▼ -0.46
Aisha Steel Mill / Dec 18 Aisha Steel Mills Limited(ASL)	36,858,206 ▲ 1.01

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