Month: February 2025

Oil rises on supply concerns as market awaits clarity on sanctions

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Oil holds at two-month

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 (1538 GMT), while US West Texas Intermediate (WTI) crude rose 89 cents, or 1.2%, to $72.74. That puts both crude benchmarks on track for their highest closes since February 11.…

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Oil little changed after report of rising US crude inventories

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oil-and-gas

Oil prices were little changed on Thursday after rising to a near one-week high in the previous session, as an industry report showing a buildup in U.S. crude stockpiles weighed on sentiment. Brent futures were up 20 cents at $76.24 a barrel by 0600 GMT. U.S. West Texas Intermediate crude dropped 30 cents to $71.95. The March contract expires on Thursday, while the more active April contract rose 21 cents to $72.31. U.S. crude stocks rose by 3.34 million barrels last week, market sources said, citing American Petroleum Institute figures…

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Pakistan’s power generation decreases in January as demand dips

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Power-sector

Power generation in Pakistan clocked in at 8,152 GWh (10,957 MW) in January 2025, a decrease of 2% YoY compared to the same period of the previous year, amid a decline in the overall demand. Back in January 2024, power generation stood at 8,314 GWh (11,175 MW). On a monthly basis, power generation improved by 4.5% as compared to 7,801 GWh in December. In the first seven months of FY25 (July-January), power generation fell by 3.2% YoY to 74,794 GWh compared to 77,296 GWh in the SPLY. Analysts have voiced…

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Pakistan’s Oil Refining Crisis: A Call for Urgent Upgrades to Save refineries from utter crash

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oil refinery crisis

In a recent podcast on YouTube, senior Islamabad-based energy journalist Syed Khalid Mustafa shed light on the dire state of Pakistan’s oil refining sector during a conversation with prominent TV news anchor Sohail Iqbal Bhatti. Mustafa detailed the financial struggles and vulnerabilities facing this crucial industry, which he describes as a strategic asset for the nation. Pakistan’s five oil refineries are vital, meeting over 50% of the country’s petroleum product needs. In times of crisis, these facilities provide essential fuel for military vehicles and aircraft, underscoring their importance to national…

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OGRA CONDUCTS SEMINAR ON REGULATORY FRAMEWORK & SAFETY IN CNG SECTOR

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OGRA

Islamabad February 17, 2025: The Oil and Gas Regulatory Authority (OGRA) conducted a seminar on regulatory framework and safety in CNG Sector, emphasizing the importance of safety to minimize incidents at CNG stations. The event held at OGRA’s Auditorium, was graced by the presence of the senior government officials alongwith DG Gas, Chief Engineer HDIP and All Pakistan CNG Association. The event was chaired by Chairman OGRA, Mr. Masroor Khan, alongside Member Oil and Finance. In his address, Mr. Khan emphasized the importance of safety in CNG Sector and said…

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