Author: Admin

Sindh empowers low-income households with solar energy, says CM Sindh

Admin
Sindh-Solar

200,000 solar units being provided to low-income families 270 solar power plants being installed to provide Rs9.80/unit KARACHI Sindh Chief Minister Syed Murad Ali Shah has said that the Sindh government has begun distributing Solar Home Systems (SHS) to 200,000 low-income households, and chairman Bilawal Bhutto has instructed him to procure another 300,000 solar units for further distribution. This initiative is designed to provide affordable and sustainable electricity, helping families that are still recovering from the devastating floods of 2022. “We are installing 270 MW solar power plants, which will…

Read More

Oil down on OPEC+ output increase, tariffs start and US pause on Ukraine aid

Admin
oil price

LONDON: Oil prices extended losses on Tuesday following reports that OPEC+ will proceed with a planned output increase in April and as U.S. tariffs on Canada, Mexico and China came into effect, as well as Beijing’s retaliatory tariffs. Brent futures were down $1.05, or 1.5%, at $70.57 a barrel by 1133 GMT while U.S. West Texas Intermediate (WTI) crude was off 83 cents, or 1.2%, at $67.54. “The current downward trend in oil prices is primarily driven by OPEC+’s decision to increase output and the introduction of U.S. tariffs,” said…

Read More

Saudi Aramco profits down 12.39 percent in 2024: statement

Admin
Saudi Aramco profits

RIYADH: Saudi Aramco’s net profits dropped 12.39 percent to $106.25 billion in 2024, the world’s biggest oil exporter said on Tuesday, following a year of lower prices and output cuts. Profits fell on lower revenues “primarily attributable to lower prices and volumes sold of crude oil, as well as lower refined and chemical product prices”, it said. Expected dividends for 2025 also fell heavily to $85.4 billion, down from $124.3 billion announced for last year by the mainly state-owned company. Aramco is the chief source of revenue for Crown Prince…

Read More

Brent hits 6-month low on OPEC+ output increase

Admin
Oil falls

NEW YORK: Oil prices fell to multi-month lows on Tuesday after reports of OPEC+ plans to proceed with output increase in April while further price pressure was applied by US tariffs on Canada, Mexico and China as well as Beijing’s retaliatory tariffs. Brent futures were down $1.50, or 2.1%, at $70.12 a barrel by 11:10 a.m. EST (1610 GMT). The session low was $69.75 a barrel, its lowest since September. US West Texas Intermediate (WTI) crude was off $1.19 a barrel, or 1.7%, at $67.18. The benchmark previously dropped to…

Read More

Oil drops $2 after US crude stock build, OPEC+ output increase, Trump tariffs

Admin
Oil falls

HOUSTON: Oil prices declined for a third day on Wednesday after US crude oil stocks posted a larger-than-expected build, adding a further headwind as investors worried about OPEC+ plans to proceed with output increases in April, and US President Donald Trump’s tariffs on Canada, China and Mexico escalated trade tensions. Brent futures fell $2.19, or 3.1%, to $68.85 a barrel by 10:49 a.m. EST (1549 GMT). US West Texas Intermediate (WTI) crude declined $2.55, or 3.7%, to $65.71 a barrel. US crude stocks rose more than expected, while gasoline and…

Read More