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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