Author: Admin

Iran-US conflict costs US Treasury $10.35 billion in 10 days

Admin
New-Project96

Karachi (Rafiq Mangat): The ongoing conflict with Iran has cost the US Treasury a staggering $10.35 billion (approximately Rs 28.94 trillion) in just 10 days, with the initial 2 days accounting for $5.6 billion (Rs 15.65 trillion) worth of ammunition. Reports indicate the US is spending an average of $1.43 billion (Rs 4 trillion) daily on the conflict. The US has used over 2,000 precision-guided munitions, including Tomahawk missiles costing $2 million (Rs 560 million) each, targeting over 5,000 sites. Daily costs include $59 million (Rs 16.5 billion) for military…

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Pakistan Receives First Petrol Shipment Amid Strait of Hormuz Closure

Admin
New-Project95

KARACHI: Pakistan has received its first petrol shipment following concerns over supply disruptions caused by the closure of the Strait of Hormuz amid the US-Israel–Iran conflict, ARY News reported on Tuesday. The arrival of the gasoline-laden vessel MT Nave Atropos, carrying 50,000 metric tonnes of petrol, has eased fears of an immediate fuel shortage in the country. The ship docked at the FOTCO Terminal, Port Qasim, as authorities confirmed that fuel shipments are steadily reaching Karachi. Two additional tankers are expected soon: MT Spross Two, carrying 55,000 tonnes of petrol,…

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Senate Panel to Probe Beneficiaries of 20% Petroleum Price Hike

Admin
petroleum-prices

ISLAMABAD: A parliamentary committee on Monday decided to investigate whether the recent 20 percent increase in petroleum prices benefited the national exchequer or resulted in windfall inventory gains for private oil companies. The issue was taken up by the Senate Standing Committee on Economic Affairs, chaired by Saifullah Abro, which expressed serious concern over the price hike and its impact on the public, particularly low-income groups. The committee directed the Petroleum Division of Pakistan to provide complete details regarding the stock positions of oil marketing companies (OMCs) to determine whether…

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Saudi Aramco Offers Over 4 Million Barrels in Rare Tenders Amid Strait of Hormuz Disruptions

Admin
Saudi-Aramco

SINGAPORE: Saudi Aramco has offered more than 4 million barrels of crude oil through rare tenders as the conflict involving Iran and the United States disrupts oil exports from the Middle East, according to several industry traders. The state-owned oil giant is reportedly seeking to reroute part of its crude exports through the Red Sea to avoid the Strait of Hormuz, a critical maritime chokepoint through which nearly one-fifth of global oil and liquefied natural gas supplies typically pass. Several Middle Eastern producers, including Iraq and Kuwait, have also begun…

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