Author: Admin

Balochistan’s Loralai Olives Wins Silver at Global Olive Oil Competition

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Loralai-Olives

ISLAMABAD: Pakistan’s premium olive oil brand, Loralai Olives, has secured a Silver Award at the 2025 New York International Olive Oil Competition, marking a significant global recognition for the country’s emerging olive industry. Federal Minister for National Food Security and Research, Rana Tanveer Hussain, hailed the achievement as a milestone aligned with Pakistan’s drive for agricultural self-sufficiency. Chosen from over 1,200 global entries, Loralai Olives stood out for its quality, sustainable practices, and premium packaging. “This is a proud moment for every Pakistani and affirms our efforts to promote a…

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Refineries Greenlight \$6bn Upgrade After Govt Clears Rs34bn Dues

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Refineries-Face

ISLAMABAD: Pakistan’s five oil refineries have agreed to proceed with long-awaited upgrade projects worth \$6 billion, following the government’s resolution of their key financial concern—clearance of Rs34 billion in stuck-up funds through adjustments in petroleum pricing. The breakthrough came after a meeting on Tuesday between refinery CEOs and Petroleum Minister Ali Pervaiz Malik, who was praised for his role in resolving the issue that had stalled refinery expansion plans for nearly a year. The CEOs assured the government they would move forward with their investments once the resolution is formalized…

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Ogra Approves 6.6pc Hike in Gas Prices Amid Revenue Gap

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OGRA

ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) on Tuesday approved an average 6.6 per cent increase in prescribed natural gas prices to meet the Rs890 billion revenue requirement of Sui Northern Gas Pipelines Ltd (SNGPL) and Sui Southern Gas Company Ltd (SSGCL) for the fiscal year 2025-26. In its late-night determination sent to the federal government, Ogra set SNGPL’s prescribed price at Rs1,895 per million British thermal unit (mmBtu), marking a Rs117 per unit increase from the current Rs1,778, to cover a projected Rs43 billion revenue shortfall. In contrast,…

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China’s crude oil imports from Russia fall in April; imports from Malaysia surge

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crude oil

China’s imports of crude oil from Russia fell 12.9% in April from a year earlier, coming in at 8.07 million metric tons or 1.96 million barrels per day, Chinese customs data showed on Tuesday. Russian supply to China also declined 5.8% on a monthly basis, down from 2.08 million bpd in March. Imports from Malaysia, the top trans-shipment hub for sanctioned Iranian oil, stood at 7.95 million tons in April, or 1.93 million bpd, down 6.3% from March, but up 96.9% year-on-year. China’s total crude oil imports stood at 48.06…

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WGC-TotalEnergies CEO will propose lifting force majeure on Mozambique LNG project

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totalenergies

BEIJING: TotalEnergies plans to propose to the Mozambique government to lift the force majeure on its liquefied natural gas (LNG) project there and plans to resume construction by mid-summer, CEO Patrick Pouyanne said on Tuesday. TotalEnergies sells 50% stake in Polish biogas company to HitecVision The French energy major is also looking at reducing the capital expenditure of its Papua LNG project by 20%-25%, he told Reuters on the sidelines of the World Gas conference.

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