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Gulf disruptions, surging costs worry oil industry

[ ISLAMABAD: Pakistan’s oil industry is facing mounting concerns over the availability and cost of crude oil and petroleum products as prices in the Middle East skyrocket, while repeated changes in the domestic pricing formula are making it increasingly difficult for refineries and oil marketing companies (OMCs) to secure supplies on commercially sustainable terms. Industry … Read more

IAEA reports Iran to UN Security Council

The Iranian flag flutters in front of the International Atomic Energy Agency (IAEA) organisation’s headquarters in Vienna, Austria, June 5, 2023.PHOTO: REUTERS VIENNA: The UN nuclear watchdog’s 35-nation Board of Governors has passed a resolution reporting Iran to the UN Security Council for the first time in 20 years for breaching its non-proliferation obligations, diplomats … Read more