Category: Highlights

Foreign Minister Shah Mehmood Qureshi on Thursday announced that China has promised to provide 500,000 doses of a coronavirus vaccine to Pakistan by January 31. In a video message after a phone call with his Chinese counterpart Wang Yi, Qureshi said China offered Islamabad to send an airplane and airlift the vaccines. The minister said he held a detailed conversation with the Chinese foreign minister in which he “discussed Pakistan’s requirements”, after Prime Minister Imran Khan had directed him to increase interaction with Beijing “considering the sensitivity of the situation”.…

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The Oil and Gas Regulatory Authority (OGRA) has announced the resumption of issuing CNG licences 12 years after the Authority first slapped a ban on the practice, reported 24NewsHD TV channel. The Ogra got published advertisements in the newspapers asking citizens to apply for CNG licences to be run on RNLG.

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LONDON: Oil prices climbed on Tuesday as optimism that government stimulus will eventually lift global economic growth and oil demand trumped concerns that renewed Covid-19 pandemic lockdowns globally are cooling fuel consumption. Brent crude futures for March rose $0.72 to $55.47 a barrel by 1152 GMT after slipping $0.35 in the previous session. “There is perception that any retracement will be quick as confidence in economic and oil demand recovery is unlikely to fade away,” said PVM analysts in a note. US West Texas Intermediate crude was at $52.65 a…

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Norway has awarded 61 offshore exploration licenses to 30 companies in the latest annual licensing round for oil and gas exploration in mature areas on the Norwegian Continental Shelf, the Ministry of Petroleum and Energy said on Tuesday. The so-called Awards in Predefined Areas (APA) are announced every year and comprise the mature parts of the shelf with known geology and good infrastructure already in place, allowing tie-backs to existing infrastructure for any new discoveries. The awards announced today include 34 production licenses in the North Sea, 24 licenses in…

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Halliburton Co on Tuesday predicted a recovery in the global oil and gas industry from the second quarter after the oilfield services provider beat profit estimates on cost cuts and modest gains in activity following last year’s slump. Crude oil prices are holding to gains from a rebound in late-2020 from a coronavirus-induced slump, with Brent crude hovering around $55 per barrel on Tuesday after averaging around $45 in the last three months of 2020. This has encouraged producers to complete more wells and add rigs. North America rig count…

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