Author: Admin

KMC Becomes Pakistan’s First Municipal Council to Transition to Solar Energy

Admin
New-KMC

KARACHI: Mayor Barrister Murtaza Wahab inaugurated the solar energy conversion of the Karachi Metropolitan Corporation (KMC) building, making KMC Pakistan’s first municipal council to adopt solar power. The transition is expected to save millions of rupees annually while generating surplus electricity to be sold to K-Electric through net metering. The 150kW solar system, now operational at the KMC building, integrates 80kW into KE’s grid and comprises 259 solar panels, producing 650-700 units of electricity daily. Wahab highlighted that this initiative is part of a broader effort to reduce costs and…

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Asia Poised to Gain from Canadian and Mexican Oil Amid Potential US Tariffs

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Oil-Price

SINGAPORE: Canadian and Mexican oil producers may turn to Asia as a key market if US President-elect Donald Trump follows through on a proposed 25% tariff on crude imports from these countries. This move could force producers to cut prices and redirect supplies, analysts and traders suggest. Sources familiar with the plan indicate that crude oil would not be exempt from broader tariff hikes, despite warnings from the US oil industry about potential economic and security impacts. The United States currently absorbs 61% of Canadian and 56% of Mexican crude…

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Experts Call for Comprehensive Overhaul of Port Safety Ecosystem

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Karachi-Port

KARACHI: Ports and shipping experts have raised alarms over the inadequate safety and security systems at Pakistan’s ports, highlighting the urgent need to address maritime safety, environmental protection, law enforcement, and national defence. Their concerns were amplified following a fire at Pakistan International Bulk Terminal Limited (PIBTL) at Port Qasim, caused by the discharge of combustible Tanzanian-origin coal. While the fire was swiftly controlled without injuries, the incident has triggered calls for stronger safety protocols. Experts revealed that prolonged delays due to such mishaps could result in millions of dollars…

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Sindh Opposes Private Gas Sale Framework: Warns of Rs243 Billion Consumer Burden

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Gas-Project

ISLAMABAD: The Sindh government has firmly opposed a proposed framework allowing gas exploration companies to sell 35% of local gas to private parties, cautioning that this could impose an additional Rs243 billion burden on residential consumers over the next five years. During the Executive Committee of the National Economic Council (ECNEC) meeting, chaired by Deputy Prime Minister Ishaq Dar, Sindh representatives argued that the decision would prioritize private parties over domestic consumers, violating constitutional provisions. They contended that the Council of Common Interest’s (CCI) directive to meet overall demand before…

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OPEC+ production cuts may support oil prices in near term, Goldman Sachs says

Admin
oil

Crude production from Iraq, Kazakhstan, and Russia has declined in compliance with OPEC+ production cuts, supporting a modest near term upside to Brent prices, Goldman Sachs said. Saudi Arabia is more likely to extend oil production cuts because of the recent price drop and we now think that oil production cuts will last until April 2025 instead of January, the investment bank said in a note dated Tuesday. Goldman Sachs maintained its average Brent price forecast for 2025 at $76 per barrel. OPEC+, which includes members of the OPEC and…

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