An oil pump jack pumps oil in a field near Calgary, Alberta, Canada on July 21, 2014. — Reuters Brent, WTI at over one-month high.Iran’s Guards say two oil tankers ‘exploded’ in Strait of Hormuz.Number of ships transiting the strait stays low over the weekend.SINGAPORE: Oil…
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UAE central bank revokes Omda Exchange license, imposes AED10m fine
A man enters the main branch of UAE Central Bank in Abu Dhabi, UAE. — Reuters/File
ABU DHABI: The Central Bank of the UAE has revoked the license of Omda Exchange and imposed a financial penalty of AED10 million due to violations of financial laws and…
Pakistan’s OGDC ramps up unconventional gas plans
A part of a captive power plant in Pakistan. — Reuters/FileOGDC official says company tripled tight-gas study area.Company open to partners “on reciprocal basis”: official.Shale programme to expand to five-six wells by 2026-27.
Pakistan’s state-run Oil and Gas Development Company …
Govt rejects reports of ending electricity subsidy for protected consumers
Power Minister Awais Ahmad Khan Leghari addresses a press conference in Islamabad on May 31, 2026. — Screengrab via GeoNewsEligible users continue receiving subsidy through QR code system: minister.QR code reforms aim to ensure subsidies reach deserving users: Leghari.Power minister…