Day: January 28, 2025

US natural gas prices drop

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natural gas prices

NEW YORK: US natural gas futures fell about 7% on Monday on forecasts for much warmer-than-normal weather over the next two weeks than previously expected that should keep heating demand low. Front-month gas futures for February delivery on the New York Mercantile Exchange fell 26 cents, or 6.5%, to $3.767 per million British thermal units (mmBtu) at 8:45 a.m EST (1345 GMT). On Friday, the contract closed at its highest since Jan. 16. Extreme cold and record gas demand last week, however, prompted speculators to boost their net long futures…

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Oil prices hover near two-week low, Libya supply disruption offers support

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oil price

Oil prices edged higher but remained near a two-week low on Tuesday, as weak economic data from China and rising temperatures elsewhere dampened demand prospects. Supporting prices was a disruption of oil loading operations in Libya. Brent crude oil futures were up 55 cents, or 0.70%, to $77.63 per barrel at 1236 GMT. U.S. West Texas Intermediate crude futures were up 49 cents, or 0.67%, to $73.66. Brent settled on Monday at its lowest since Jan. 9, while WTI hit its lowest since Jan. 2. In Libya, local protesters prevented…

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Saudi, UAE, Iraq, Libya energy ministers meet after Trump OPEC comments

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Oil prices

DUBAI: Saudi Arabia’s energy minister met his counterparts from the United Arab Emirates (UAE), Iraq and Libya on Monday following U.S. President Donald Trump’s call for lower oil prices and ahead of a meeting next week of OPEC+ oil-producing countries. Saudi Energy Minister Prince Abdulaziz bin Salman held talks with Iraq’s Hayan Abdel-Ghani and Libya’s Khalifa Abdulsadek in Riyadh, the official Saudi Press Agency (SPA) reported. He and his Libyan counterpart discussed “strengthening joint efforts to support the stability of global energy markets” to serve their mutual interests, SPA reported. He also…

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Government to Auction Surplus Electricity, Says Minister Awais Leghari

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New-Project28

Islamabad, 28th January 2025- Minister for Power Sardar Awais Leghari, addressing an event in Islamabad, announced the government’s plan to auction surplus electricity in the country. This surplus electricity will be provided to the industries. This initiative aims to stimulate industrial growth and create new employment opportunities across Pakistan. He emphasized that surplus electricity would be made available competitively to ensure maximum benefit for the economy and the industrial sector. The Minister also discussed the recently introduced National Electric Vehicle (EV) Policy, which aims to encourage the adoption of electric…

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EV Sector Experts Stress Need for Infrastructure Development and Policy Coherence

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Electric-Vehicle

ISLAMABAD: Experts at the EV Summit 2025, organized by the Sustainable Development Policy Institute (SDPI), have called for the urgent development of electric vehicle (EV) infrastructure, including nationwide charging stations and battery availability, to facilitate consumer adoption. Participants highlighted the government’s introduction of a Rs39.7 per unit EV charging tariff with a 40% exemption, but emphasized the need for further incentives and standardization of EV products and infrastructure to build consumer confidence. Engineer Khuda Buksh of the Engineering Development Board (EDB) noted the growing EV adoption trend and underscored the…

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