IEA raises oil demand outlook again but still lags OPEC


LONDON: The International Energy Agency on Thursday raised its view on 2024 oil demand growth for a fourth time since November as Houthi attacks disrupt Red Sea shipping, though it remains far less bullish than producer group OPEC. The Organization of the Petroleum-Exporting Countries (OPEC) and the IEA, which represents industrialised countries, have clashed in recent years over issues such…

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France eyes return to Pakistan’s LNG market


After legal disputes, French firms seek collaboration to address looming gas shortage ISLAMABAD: France is poised to re-enter Pakistan’s Liquefied natural gas (LNG) export market after an absence of over a decade, following a legal dispute that led to a French company withdrawing from the sector. During the previous Pakistan Peoples’ Party (PPP) administration, a contract for an LNG project…

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IMF ‘satisfied’ with Pakistan’s significant progress in economic goals


Separate meetings of finance minister, SBP governor, energy minister also scheduled with IMF team The introductory review meeting between Pakistan and the visiting delegation of the International Monetary Fund (IMF)  has concluded at the Finance Ministry. The visiting IMF mission was headed by Nathan Porter, and further talks between the two sides will be held in a local hotel. According to sources,…

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SSGCL accuses ‘front men’ of creating LPG shortages


ISLAMABAD: The Sui Southern Gas Company Ltd (SSGCL) on Thursday accused ‘front men’ of Liquefied Petroleum Gas (LPG) market operators of making complaints before the government institutions to block state-owned entities’ retail business for creating shortages and black marketing the product for personal gains.“Most of the complainants are self-proclaimed stakeholders and they themselves do not have any stakes in the…

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Free Trade Agreement likely in Iran president’s visit to Pakistan: envoy


ISLAMABAD: Iranian Ambassador Dr Reza Amiri Moghadam said on Thursday that a Free Trade Agreement (FTA) is likely to be finalised in the upcoming visit of Iranian President Ebrahim Raisi to Pakistan.Addressing the business community during his visit to the Islamabad Chamber of Commerce and Industry (ICCI), the Iranian envoy said the FTA would increase mutual trade and several bilateral…

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Curtain rises on five-year plan for economic revival


Ms Khawaja, who attended the meeting, said the committee, after getting the required information from the ministries and divisions, would prepare a consolidated document carrying five-year targets for all sectors. She said several meetings would be held soon on the five-year roadmap.Earlier, speaking at the meeting, the prime minister said consultation should be held on the plan with all stakeholders…

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