Tag: refinery
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PSX bounces back with gain of nearly 500 points
The Pakistan Stock Exchange (PSX) welcomed a resurgence of bullish activity as the KSE-100 Index marked a substantial gain of nearly 500 points in Tuesday’s trading session. At 1:55 pm, the benchmark index stood at 66,496.21, reflecting a noteworthy increase of 483.89 points, or 0.73 per cent. The positive momentum was evident in key sectors…
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Pakistan places first order for discounted Russian crude oil
Pakistan has placed its first order for discounted Russian crude oil under a new deal negotiated between Pakistan and Russia, following months of discussions. State Minister for Petroleum, Musadik Malik, confirmed that one cargo will dock at Karachi port in May. Pakistan will only purchase crude oil, not refined oil, and imports are expected to…
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Saudi Arabia to set up $12 billion refinery, petrochemical complex in Pakistan
The government has convinced Saudi Arabia to resume a significant project to build a cutting-edge deep conversion refinery and petrochemical complex in Pakistan. A high-ranking team from the kingdom led by Crown Prince Mohammad Bin Salman will visit Pakistan in the final week of November, when a formal announcement is anticipated in this regard, according…