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Pakistan says holds ample petroleum reserves amid fears of Iran’s closure of Strait of Hormuz
ISLAMABAD: Pakistan has ample petroleum reserves and an uninterrupted supply chain, a junior minister said on Monday, amid fears that Iran may cut off a vital oil and gas shipping lane in retaliation for US strikes on its nuclear facilities. Iran’s parliament has approved cutting off the Strait of Hormuz, a narrow shipping lane in the Arabian Gulf through which about 20 percent of global oil and gas passes. It’s now up to Iran’s national security council to decide whether to move forward with the idea, which could lead to a spike in the cost of goods and services worldwide.
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arabnews.com
Pakistan regulator advises oil companies to maintain 20-day stocks as Iran-Israel conflict escalates
ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) confirmed on Sunday it has advised oil marketing companies to maintain their mandatory 20-day stock levels, clarifying the…
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independent.co.uk
Iran could close Strait of Hormuz - how might it affect global oil and gas?
One-fifth of the world’s oil and gas passes through the Iranian-controlled Strait of Hormuz
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cnbc.com
Iran's threat to close the Strait of Hormuz could deepen Tehran's isolation, experts say
The Straits are the only sea route from the Persian Gulf to the open ocean, and about 20% of the world's oil transits the waterway.
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Pakistan says holds ample petroleum reserves amid fears of Iran’s closure of Strait of Hormuz
ISLAMABAD: Pakistan has ample petroleum reserves and an uninterrupted supply chain, a junior minister said on Monday, amid fears that Iran may cut off a vital oil and gas shipping…