NEW YORK: Oil prices settled more than 1% higher on Friday and recorded a weekly gain in low trading volume ahead of year-end, buoyed by a larger-than-expected drawdown from US crude inventories last week. Brent crude futures rose 91 cents, or 1.2%, to settle at $74.17 per barrel. US West Texas Intermediate crude futures rose 98 cents, or 1.4%, to…
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RAWALPINDI: The Sui Northern Gas Pipelines Limited (SNGPL) Rawalpindi has refuted reports of eight-hour gas load shedding in any part of the city, emphasizing its efforts to ensure uninterrupted gas supply during the winter season. Responding to a report in a local newspaper, the SNGPL spokesperson clarified that despite the increased demand during winter, continuous supply is being provided to…
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LONDON: Oil prices edged up on Monday in thin holiday trade at the end of the year, as traders awaited more Chinese and U.S. economic data later this week to assess growth in the world’s two largest oil consumers. Brent crude futures rose 20 cents to $74.37 a barrel by 1208 GMT. The more active March contract was at $74.00…
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SINGAPORE: China has issued at least 152.49 million metric tons of crude oil import quotas to independent refiners in a second batch for 2025 so far, several trade sources said on Monday. These quotas are being issued in batches by provinces this year and follow a recent small batch of 5.84 million tons that was issued in November, the sources…
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Lahore, December 30, 2024: The Board of Directors of Kot Addu Power Company Limited (KAPCO) has announced the appointment of Mr. Shahab Qader Khan as the Chief Executive Officer (CEO) for a term of three years. His tenure will officially commence on January 22, 2025, and conclude on January 21, 2028. This decision underscores the company’s commitment to fostering strong…
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Stanford Researchers Pioneer Nighttime Solar Technology In a groundbreaking innovation, researchers at Stanford University have developed solar panels capable of generating electricity at night using the phenomenon of radiative cooling. This technology holds promise for revolutionizing renewable energy, especially in off-grid and remote areas. Harnessing Radiative Cooling for PowerRadiative cooling occurs on clear nights when heat escapes from the Earth’s…
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Islamabad – The construction of Pakistan’s largest nuclear power plant, provided by China, is set to commence today. The plant, located at Chashma, is expected to start producing 1,200 MW of nuclear electricity by 2030. A ceremonial First Concrete Pour (FCP) event for the Chashma Nuclear Power Plant Unit-5 (C-5) will take place today, with Federal Minister for Planning, Development,…
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The Chenab River is rapidly transforming into India’s hydroelectric power corridor, with over 70 hydropower projects in various stages of development. The electricity generated from these projects is expected to surpass the combined output of Pakistan’s Mangla and Tarbela dams. India has already completed 11 dams on the Chenab River, including the Salal and Baglihar Dams. Recently, construction has begun…
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ISLAMABAD: The Executive Committee (EC) of the Special Investment Facilitation Council (SIFC) has issued directives to the Petroleum Division to expedite the ongoing bidding processes and policy adjustments. Key timelines have been established to ensure streamlined operations and strategic advancements. Bidding Timelines and Marketing InitiativesThe Petroleum Division has been tasked with finalizing the ongoing bidding process by January 10, 2025.…
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ISLAMABAD: As the global oil market trends upward, the prices of high-speed diesel (HSD), kerosene, and light diesel oil (LDO) are expected to increase by approximately Rs4 to Rs5 per litre starting New Year’s Eve. This adjustment will apply for the first fortnight of 2025, according to informed sources. Conversely, petrol prices are projected to remain relatively stable, with a…
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