KARACHI: Pakistan’s oil and gas production experienced a notable decline in the first quarter of the current fiscal year, with oil output falling by 8% and gas by 7%. The downturn was primarily due to annual turnarounds (ATAs) and forced curtailments at major fields, according to a report by Arif Habib Limited (AHL). Key oil fields like Nashpa, Mela, Adhi,…
Read More
Since becoming a full member of the Shanghai Cooperation Organisation (SCO) on June 9, 2017, Pakistan has reaped significant benefits across multiple sectors, particularly in trade, security, and regional diplomacy. Pakistan’s involvement in the SCO has strengthened its trade potential, enhanced security cooperation, and bolstered its geopolitical standing within Central Asia. In terms of trade, Pakistan’s exchange with SCO members,…
Read More
ISLAMABAD: The World Bank has reported significant slowdowns in the 4,320 MW Dasu Hydropower Project due to restrictions on ground transportation for international workers and experts from Islamabad to the project site, as well as a shortage of armored vehicles for their movement within the project area. A recent World Bank mission to Pakistan noted that while construction is ongoing,…
Read More
A Chinese investment corporation has committed $1 billion to Pakistan Refinery Limited (PRL) for a major upgrade aimed at doubling its production capacity. The agreement, however, comes with a condition: the Chinese firm seeks full independence from government control, ensuring that PRL repays the investment in dollars without any government intervention. Currently, Pakistan’s State Bank allows the private sector, including…
Read More
The world is rapidly transitioning toward a future dominated by low-emission energy sources, with more than half of global electricity expected to come from clean energy by 2030, according to the International Energy Agency’s (IEA) latest World Energy Outlook report. The IEA projects that demand for oil, gas, and coal will peak by the decade’s end, potentially leaving an excess…
Read More
PM Shehbaz chairs summit; eight key documents on bloc’s budget, secretariat, and counterterrorism efforts signedSCO members reject Western sanctions, call for the use of national currencies in tradeJoint communique urges closer cooperation in politics, security, and the establishment of an SCO Development BankIndia expresses concerns over cross-border terrorism, affecting trade and connectivity effortsISLAMABAD: Leaders of the Shanghai Cooperation Organisation (SCO)…
Read More
