Oil Rises On Sizeable Gasoline, Distillates Draw

Crude oil prices remained unchanged after the Energy Information Administration reported a crude oil inventory build of 800,000 barrels for the week to February 28. Gasoline inventories, however, fell substantially. This compares with a modest inventory increase of 500,000 bpd a week earlier, and analyst expectations of a 3.3-million-barrel build. Yesterday, the American Petroleum Institute said it had estimated crude…

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CDWP approves seven projects worth Rs12.23bn

ISLAMABAD: The Central Development Working Party (CDWP) on Tuesday approved seven projects worth Rs12.23 billion and recommended five projects worth Rs158.230 billion to the Executive Committee of National Economic Council (ECNEC) for consideration. The CDWP meeting, which was presided over by Deputy Chairman Planning Commission Mohammad Jehanzeb Khan, reviewed projects related to energy, higher education, information technology, science & technology, transport…

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Cancel or renegotiate? Pakistan ponders way out of high-priced LNG term deals

Singapore — The sharp fall in spot LNG prices to record lows is forcing Pakistan to weigh options on whether to cancel or renegotiate term deals, with policymakers and industry officials saying that entirely backing out of contracts may provide short-term gains but will bring pain in the longer term. Although oil-linked deals in a low-priced environment is forcing Pakistan…

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Pakistan among worst-affected countries of air pollution ‘pandemic’

PARIS: Pakistan is ranked among three worst-affected Asian countries by a ‘pandemic’ of air pollution that shortened lives, according to a news research published in the journal Cardiovascular Research on Tuesday. Scientists warned that air pollution shortened lives worldwide by nearly three years on average, and causes 8.8 million premature deaths annually. They added that the worst-hit region is Asia, where…

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