Author: Admin

Shell Q1 profit drops 28%, but beats expectations

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shell

LONDON: Shell on Friday reported a 28% drop in first-quarter net profit to $5.58 billion, beating analyst expectations, and kept the pace of its share buyback programme steady amid falling oil prices and lower refining margins than last year. It said it would buy back $3.5 billion worth of shares for the next three months, the fourteenth consecutive quarter of a buyback programme of at least $3 billion. That contrasts with rival BP, which has sharply cut its buybacks this year to shore up its balance sheet. Shell’s gearing, a…

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Canada’s Imperial Oil posts rise in quarterly profit on stronger refining margins

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Oil falls

Canadian oil producer Imperial Oil posted a rise in first-quarter profit on Friday, driven primarily by stronger margins in its refining and fuel sales business, sending its U.S.-listed shares up nearly 6% before the bell. Canadian producers have benefited from the completion of the Trans Mountain pipeline expansion project, which raised its capacity to 890,000 barrels per day. The pipeline offers producers the only export route to international markets bypassing the United States. “The upstream business continued to benefit from improved egress and narrower heavy oil differentials, while our downstream…

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PPDA meeting with Standing Committee on Energy at Parliament House

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New-Project8

The 8th meeting of the Standing Committee on Energy (Petroleum Division) of the Parliament House held at recently at Parliament House Islamabad to discuss problems of petroleum dealers Association and sharing suggestions to improve petroleum industry. Malik Khuda Baksh presented a bouquet on behalf of Abdul Sami Khan, Chairman Pakistan Petroleum Dealers Association (PPDA), to Syed Mustafa Mehmood, Chairman of the Standing Committee, as a gesture of goodwill and representation from PPDA. He was accompanied by Raja Waseem (Vice Chairman-PPDA), Ch. Zafar Elahi (Member-PPDA), and Faisal Arif (Member-PPDA) of the…

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Pakistan Showcases Green Transport Vision at Shanghai Electric Vehicle Conference

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Electric-Vehicle

SHANGHAI – In a strong push toward sustainable transportation, the Consulate General of Pakistan in Shanghai hosted a New Energy Vehicle Procurement Conference on April 29, alongside the 2025 Shanghai International Auto Show. The event brought together around 60 leading Chinese electric vehicle (EV) manufacturers, including global giants BYD, Geely, and Skyworth, as reported by Gwadar Pro. Punjab Transport Minister Bilal Akbar Khan, who led the Pakistani delegation, hailed the exhibition as a testament to China’s dominance in EV innovation. “Before coming here, I thought I understood China’s EV progress,”…

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Sindh Govt Invites Private Sector to Join Eco-Friendly Electric Taxi Project

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Electric-Taxi

KARACHI – Sindh Senior Minister for Information, Transport and Mass Transit, Sharjeel Inam Memon, has urged private sector stakeholders to actively participate in the province’s upcoming electric vehicle (EV) taxi service initiative, aimed at providing eco-friendly and comfortable transport solutions across Sindh. Speaking at a high-level meeting, Memon revealed that the Sindh Enterprise Development Fund (SEDF), under the Investment Department, is offering Karachi Interbank Offered Rate (KIBOR)-based subsidies to companies keen on launching EV taxi fleets under a public-private partnership (PPP) model. Highlighting the global shift toward electric mobility, Memon…

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