With no passengers and no planes, Pakistan’s newest and most expensive airport is a bit of a mystery. Entirely financed by China to the tune of $240 million, it’s anyone’s guess when New Gwadar International Airport will open for business. Located in the coastal city of Gwadar and completed in Oct 2024, its a stark contrast to the impoverished, restive southwestern BalochistanFor the…
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LONDON: Oil prices steadied on Monday as investors awaited clarity on talks to end the war in Ukraine and weighed up the prospect of a resumption in crude exports from northern Iraq. Brent futures were up 13 cents, or 0.2%, at $74.56 barrel by 1103 GMT while U.S. West Texas Intermediate crude futures added 11 cents, or 0.2%, to $70.51.…
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LAUNCESTON: Asia’s imports of liquefied natural gas (LNG) are poised to drop to the lowest in nearly two years in February, while Europe’s are set to surge to the second-highest on record. The weakness in Asia shows buyers are shunning expensive spot cargoes, with prices at least 50% higher than what they were this time last year. A milder-than-usual winter…
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ISLAMABAD, Feb 20 (APP):Federal Minister for Petroleum Dr. Musadik Malik on Thursday underscored the transformative impact of technological advancements on Pakistan’s energy sector, revealing that a single innovation has led to a 10,000-barrel increase in the Oil and Gas Development Company Limited (OGDCL)’s oil production.Addressing a celebration event organized by OGDCL and Schlumberger, he said that if four more companies…
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NEW YORK: Oil prices rose about 1% to a one-week high on Wednesday on worries about supply disruptions in Russia and the US, while the market awaits clarity on sanctions as the US attempts to broker a deal to end the war in Ukraine. Brent futures were up 65 cents, or 0.9%, at $76.49 a barrel by 10:38 a.m. EST…
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SINGAPORE: Oil prices were little changed on Monday as investors eyed developments on a potential Russia-Ukraine peace deal that could ease sanctions disrupting global supply flows. Brent crude futures dipped 1 cent at $74.73 a barrel at 0740 GMT, while US West Texas Intermediate crude was down 7 cents at $70.67 a barrel. The market continued to keep an eye…
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NEW DELHI: Decisions from oil producer group OPEC+ take a long-term view of the global markets and are aimed at providing price stability, Secretary General Haitham Al-Ghais said at the India Energy Week conference on Tuesday. The comments came after U.S. President Donald Trump repeatedly called on the producer group to increase oil production to help reduce prices. Iran urges…
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LONDON: Oil prices rebounded on Monday despite lingering fears over a potential global trade war after U.S. President Donald Trump’s latest tariff plans, this time targeting steel and aluminium. Brent crude futures were up $1.05, or 1.4%, at $75.71 a barrel by 1301 GMT. U.S. West Texas Intermediate crude added 1.5%, also rising $1.05 to $72.05. Monday’s gains could be…
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