Author: Admin

Oil prices edge up as traders weigh supply risks

Admin
Oil falls

LONDON: Oil prices climbed on Monday as traders weighed concerns that Russian supply could be disrupted by more U.S. sanctions and Ukrainian attacks targeting energy infrastructure in Russia. Brent crude futures rose 40 cents, or 0.6%, to $68.13 by 1200 GMT, and West Texas Intermediate (WTI) crude futures gained 44 cents, or 0.7%, to $64.10. “The market is somewhat concerned that these peace negotiations are going nowhere,” said Ole Hansen, head of commodity strategy at Saxo Bank. “The market is looking for supply to exceed demand in the autumn months, but in…

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Santos extends exclusivity for $18.7 billion ADNOC-led offer, profit declines

Admin

Australian gas producer Santos on Monday agreed to further extend the exclusivity period for an $18.7 billion takeover bid from a group led by Abu Dhabi National Oil Co (ADNOC), and reported a better-than-feared 22% drop in first-half profit. Its shares rose 1% in early trading after extending the due diligence period to September 19 to give the consortium led by ADNOC’s investment arm XRG more time to secure required internal approvals before making a binding takeover offer. Santos said the consortium had on Sunday “again confirmed it has not…

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Sindh CM orders restoration of 150-year-old historic Banyan tlree at Qasr-e-Naz

Admin

KARACHI (Aug 23): Sindh Chief Minister Syed Murad Ali Shah has directed the restoration of a 150-year-old banyan tree at Qasr-e-Naz, which collapsed due to heavy rains and strong winds. The chief minister has instructed the Secretary Forests to immediately begin restoration work. Chief Conservator Javed Mahar, along with his team, will oversee the revival of the tree. Murad Ali Shah said that centuries-old trees are not only cultural heritage and symbols of ancestors but also vital for protecting the environment. “In the era of climate change, every plant has…

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2nd International Solar Power Conclave & Solar Excellence Awards 2025 scheduled for August 28 in Lahore

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Lahore: The city of Lahore is set to host one of the country’s most significant renewable energy gatherings, the 2nd International Solar Power Conclave & Solar Excellence Awards 2025, taking place on 28th August 2025. The event is being organised by Energy Update in association with the Private Power & Infrastructure Board (PPIB), the Pakistan Solar Association (PSA), the Pakistan Alternative Energy Association (PAEA), and the Renewable Energy Association of Pakistan (REAP). It aims to provide a high-level platform for policymakers, industry leaders, investors, and international technology providers to engage…

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Beyond borders: Pakistan’s oil, gas firms compete with World’s Best in Libya

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oil

Pakistan’s quest to transform its resource economy has taken another leap forward, with its leading energy companies—Oil and Gas Development Company Limited (OGDCL) and Pakistan Petroleum Limited (PPL)—qualifying among 29 global contenders for Libya’s upcoming oil and gas block bid round. The development not only signals the growing ambitions of Pakistan’s exploration and production (E&P) sector but also resonates strongly with the vision laid out earlier this year at the Pakistan Mineral Investment Forum-2025. Held in April, the forum set the stage for unlocking Pakistan’s estimated $6 trillion to $8…

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