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Category: Highlights

Pakistan industries pay almost twice the power costs of China, India, and US: report

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power tariff

Pakistan’s industrial sector is paying almost twice the electricity costs compared to China, India, and the United States, putting its export competitiveness at a disadvantage.  A report by the International Energy Agency (IEA) shows that power tariffs for energy-intensive industries in Pakistan averaged 13.5 cents per kilowatt-hour (kWh) in 2024, surpassing those in major economies and even exceeding rates in…

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Oil eases in choppy trading on U.S. tariffs, OPEC+ plans to raise output

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Oil prices

HOUSTON: Oil prices eased slightly in choppy trade on Thursday with Brent still below $70 under pressure from trade tariffs between the U.S., Canada, Mexico and China, and OPEC+ plans to raise output. Those factors and a larger than expected build in U.S. crude inventories had sent Brent as low as $68.33 on Wednesday, its weakest since December 2021. Brent…

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

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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…

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Saudi Aramco profits down 12.39 percent in 2024: statement

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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…

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

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Oil prices

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…

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OPEC February oil output rises as Iran exports keep flowing

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OPEC-Project

LONDON: OPEC oil output rose in February, a Reuters survey found, as Iranian exports held strong, despite renewed U.S. attempts to curb the flows, and Nigeria boosted output above its target within the wider OPEC+ group. The Organization of the Petroleum Exporting Countries pumped 26.74 million barrels per day last month, up 170,000 bpd from January’s revised total, the survey showed on…

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Inflation Down to Lowest Point in 9 Years Trade & Industry Demands Single-Stroke Cut By 500 bps in Interest RateAtif Ikram Sheikh, President FPCCI

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Atif-Ikram

Karachi: Mr. Atif Ikram Sheikh, President FPCCI, has apprised that the business, industry and trade community of Pakistan is dissatisfied with the monetary policy as it continues to be based on a heavy premium vis-à-vis core inflation as the State Bank of Pakistan (SBP) announced a grossly-insufficient reduction of merely 100 bps on January 27th in its last Monetary Policy…

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Oil prices stable as tariff and Ukraine uncertainty dominates sentiment

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Oil prices

LONDON: Oil prices were little changed on Monday after registering a monthly loss for the first time since November, while investors await the outcome of efforts to end the Russia-Ukraine war and repercussions from U.S. tariffs. Brent crude rose 11 cents, or 0.15%, to $72.92 a barrel by 1105 GMT while U.S. West Texas Intermediate crude was up 3 cents,…

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KE launches ‘Energy Progress & Innovation Challenge 2025’

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KE launches

KARACHI: Committed to fostering creativity, innovation, and localisation in the energy sector, K-Electric has launched Energy Progress & Innovation Challenge (EPIC) 2025. Building on the resounding success of its pioneering 7/11+ Innovation Challenge introduced in 2022, EPIC will unite entrepreneurs, academia, researchers, and think tanks to develop cutting-edge solutions for the energy industry. Innovators may address K-Electric’s predefined challenge statements…

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