ISLAMABAD: A potential fuel shortage looms over Lahore, Islamabad, and Rawalpindi as restrictions on city access are hindering the transportation of fuel tankers. Oil Contractors Association said that when contacted with the Oil and Gas Regulatory Authority (OGRA), the authority also expressed concern over the situation, warning that it could lead to disruptions in the supply of petroleum products. Oil…
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Power utility K-Electric (KE) received the lowest tariff bid from Kot Addu Power Company Limited (KAPCO) for its 120-megawatt (MW) solar project in Karachi. KAPCO shared the development in a notice to the Pakistan Stock Exchange (PSX) on Tuesday. “We are pleased to inform you that the company’s bid for the proposed K-Electric solar project to be set-up at Deh…
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HOUSTON: Oil prices rose on Tuesday as investors eyed OPEC+ discussions on output and weighed the potential impact of U.S. President-elect Donald Trump’s planned trade tariffs on Mexico and Canada. Brent crude futures were up 66 cents, or 0.9%, at $73.67 a barrel as of 10:35 a.m. ET (1535 GMT). U.S. West Texas Intermediate crude futures were at $69.60 a…
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KARACHI (Nov 26) – Sindh Chief Minister Syed Murad Ali Shah, in a high-level meeting with WAPDA Chairman Lt Gen (R) Sajjad Ghani at the CM House, stressed the urgent need to allocate an additional 50 MGD of water from the Hub Dam to address Karachi’s growing demand. The meeting, attended by Local Government Minister Saeed Ghani, Irrigation Minister Jam…
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ISLAMABAD: Pakistan has established a negotiation committee to finalize the sale of a 15% stake in the Reko Diq copper and gold mining project to Saudi Arabia’s Public Investment Fund (PIF). The committee will review the price discovery mechanism prepared by international advisors, assess the Saudi offer, and draft a commercial agreement. The Cabinet Committee on International Governmental Commercial Transactions…
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HOUSTON: Oil prices fell sharply on Monday, with Brent crude dropping $2.02 (2.69%) to $73.15 per barrel and US West Texas Intermediate (WTI) declining $2.08 (2.92%) to $69.16, following reports of a potential ceasefire deal between Israel and Lebanon. Unnamed US officials indicated progress in ending the Israel-Hezbollah conflict, though Israeli and Lebanese leaders expressed cautious optimism, citing unresolved issues…
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ISLAMABAD: A severe fuel supply disruption has emerged as the lockdown imposed to counter the PTI march on the federal capital has crippled the transportation of petroleum products, particularly in Punjab and Islamabad. Government barricades on highways, motorways, and city roads have hampered the movement of oil tankers, forcing many to offload at the nearest pumps to mitigate safety risks.…
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ISLAMABAD: Pakistan and Belarus signed eight Memorandums of Understanding (MoUs) and agreements on Monday, opening new avenues for collaboration in various sectors and boosting bilateral trade potential. The signing ceremony took place during the Pakistan-Belarus Business Forum, co-chaired by Commerce Minister Jam Kamal and Belarusian Energy Minister Aleksei Kushnarenko. These agreements precede the arrival of Belarus’s President in Islamabad. The…
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Karachi: Atif Ikram Sheikh, President FPCCI, has demanded that the country needs a new law for its Oil & Gas Regulatory Authority (OGRA) to reflect the ground realities of LPG supply chain in the country – and, make the regulatory environment facilitative, enabling and fair to all the stakeholders and consumers. Atif Ikram Sheikh elaborated that OGRA law does not…
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