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Pakistan’s Five Refineries Set for $6 Billion Upgrade Push

Pakistan’s five oil refineries are expected to sign agreements in early September for upgrades that are expected to unlock as much as $6 billion in investment in the country’s refining sector. Representatives of the five refineries, Pak Arab Refinery Limited (PARCO), Pakistan Refinery Limited (PRL), National Refinery Limited (NRL), Cnergyico, and Attock Refinery Limited (ARL), have met with Pakistan’s Federal Minister for Petroleum, Ali Pervaiz Malik, to discuss the so-called Refinery Upgradation Policy, local daily Business Recorder…

Helena Marsh28 August 2026

Oil & Fuel OilIndustry news

Oil Prices Fall as Iran Negotiation Hopes Return

U.S. sanctions pressure on Iran intensifies, but Pakistani mediation hopes push Brent back to $89. US Blockade Leaves Iran’s Oil Trade on Borrowed Time - The announcement of the Trump administration’s ‘Economic D-Day’ sanctions on Iran coincides with an overall slump in Tehran’s crude exports, choked off by the US Navy’s maritime blockade in the Gulf of Oman. - Iran’s August crude exports have so far been minimal compared to the 2025 average of 1.7 million b/d, averaging only slightly around 0.3 million…

Editorial Desk25 August 2026

Shipping & LogisticsIndustry news

Iran Vows to Resist Widened U.S. Sanctions, Says Washington Seeks Talks

Iran pledged to fight back against expanded U.S. sanctions aimed at isolating its economy, expressing confidence that major trading partners would resist the pressure campaign and saying that Washington was keen to revive talks.

Editorial Desk25 August 2026