Pakistan âconsiders' buying cheap oil and gas from Iran
Key takeaways
- Speaking to the media in Lahore, the minister said that petroleum product prices had touched Rs460 per litre in April at the height of the Iran-US conflict, but global prices had since come down significantly.
- Washington and Tehran signed the "Islamabad Memorandum of Understanding" in Switzerland’s Burgenstock on June 17, largely mediated by Pakistan.
- Malik said Prime Minister Shehbaz Sharif had immediately passed on the benefit to the public, adding that the relief provided to consumers was even greater than the reduction seen in global markets.
Why this matters: local context for readers following news across Pakistan and the region.
Home latest pakistan world sports showbiz entertainment Royal business health Sci-Tech Food Fact Check big picture Videos shows Watch LIVE TV X Home Latest Pakistan World Sports Showbiz Fact Check big picture Videos Shows LIVE TV Business Pakistan ‘considers' buying cheap oil and gas from Iran Govt remains active on further reductions in petroleum prices as global markets normalised, says minister By Web Desk | Published June 28, 2026
Make us preferred on Google. A general view shows a unit of South Pars Gas field in Asalouyeh Seaport, north of Persian Gulf, Iran November 19, 2015. — ReutersRLNG connections to be restored soon, announces minister.Govt passed on more relief than global price reduction: MalikCameras installed at textile mills to address FBR concerns.Federal Minister for Petroleum Ali Pervez Malik said on Sunday that Pakistan was considering purchasing cheap oil and gas from Iran following the end of the Iran-US war and the end of restrictions on Tehran.
Speaking to the media in Lahore, the minister said that petroleum product prices had touched Rs460 per litre in April at the height of the Iran-US conflict, but global prices had since come down significantly.