The United States temporarily suspended sanctions on Iranian oil on Monday after Vice President JD Vance said Iran would let UN nuclear inspectors return to the country, following talks in Switzerland. Last week, Tehran and Washington signed a memorandum of understanding laying the groundwork for the negotiations, after nearly 40 days of fighting that was […]
Oil sales
US imposes fresh sanctions on Iran’s military oil sales, Treasury says
The US has imposed new sanctions on Iran’s military oil trade, even as Washington and Tehran reached a tentative agreement to extend their ceasefire and lift restrictions on shipping through the Strait of Hormuz. The Treasury Department said it had sanctioned eight vessels involved in transporting Iranian crude oil and petroleum products to global markets. […]
Oil sales fall sharply in November despite slight yearly uptick
KARACHI: Pakistan’s overall oil sales recorded a sharp decline in November, slipping 10 per cent year-on-year and 5 per cent month-on-month to 1.418 million tonnes. The drop reflects weakened consumer demand and price pressures across key fuel categories. Read More: Pakistan fuel oil exports hit record 1.4M tons in 2025 However, cumulative sales for the first five […]
Oil sales rise 10% in may as smuggling drops and demand improves
Oil sales in Pakistan rose 10% year-on-year in May 2025, reaching 1.53 million tons. The increase was also 5% higher than the previous month. Experts link this rise to multiple factors. These include cheaper fuel prices, higher diesel demand due to wheat harvesting, reduced fuel smuggling, and signs of better economic activity. From July 2024 […]