Day: March 26, 2025

US natural gas prices hold near 3-week low

Admin
natural gas prices

NEW YORK: US natural gas futures held near a three-week low on Tuesday on record output and forecasts for milder weather and lower demand over the next two weeks than previously expected. Traders noted higher demand from the expected return of Freeport LNG’s export plant in Texas on Tuesday from an outage on Monday offset the forecast for lower demand from milder weather. Front-month gas futures for April delivery on the New York Mercantile Exchange were up 1.6 cents, or 0.4%, to $3.93 per million British thermal units (mmBtu) at…

Read More

India’s Reliance to stop buying Venezuelan oil over US tariffs: sources

Admin
US tariffs

NEW DELHI: India’s Reliance Industries, operator of the world’s biggest refining complex, will halt Venezuelan oil imports after the United States announced a 25% tariff on nations buying crude from the South American nation, three sources said on Wednesday. The Indian conglomerate, which last year obtained approval from U.S. authorities to purchase oil from the sanctioned producer, imports an average of 2 million barrels of Venezuelan crude every month, according to LSEG data. It is scheduled to receive a Venezuelan cargo in early April, LSEG trade flows data showed. U.S.…

Read More

Oil prices climb 1% on US crude and fuel stock draw, Venezuela supply worries

Admin
Oil prices

HOUSTON: Oil prices rose on Wednesday, buoyed by government data showing U.S. crude oil and fuel inventories fell last week and by mounting concerns about tighter global supply following the U.S. threat of tariffs on nations buying Venezuelan crude. Brent crude futures gained 82 cents, or 1.12%, to $73.84 a barrel by 12:11 p.m. ET (1611 GMT), their highest since February 27. U.S. West Texas Intermediate crude futures rose 82 cents, or 1.19%, to $69.82 a barrel. Both benchmarks rose more than $1 a barrel during the session. Oil prices…

Read More

First-Ever EU-Pakistan Business Forum Set for May 14 in Islamabad

Admin
First-Ever

ISLAMABAD: The European Union (EU) delegation to Pakistan has announced the inaugural High-Level EU-Pakistan Business Forum, scheduled for May 14-15, 2025, in Islamabad. This milestone event, jointly supported by the EU, its Member States, and the Government of Pakistan, aims to foster business partnerships, unlock new opportunities, and strengthen economic ties between the two regions. Prime Minister Shehbaz Sharif will officially inaugurate the forum, which will feature business-to-business (B2B) and business-to-government (B2G) meetings, interactive discussions, exhibitions, and the launch of the EU-Pakistan Business Network, connecting over 300 European companies operating…

Read More

Govt Moves Forward with Discos Privatization, FAs Outline Key Reforms

Admin
Power-sector

ISLAMABAD: Financial Advisors (FAs) have briefed the Power Division and Privatization Commission on private sector participation in three power Distribution Companies (Discos), highlighting necessary regulatory and financial reforms, sources told Business Recorder. The government aims to privatize Islamabad Electric Supply Company (IESCO), Gujranwala Electric Power Company (GEPCO), and Faisalabad Electric Supply Company (FESCO). The discussions focused on regulatory changes, balance sheet restructuring, and preparatory steps required before privatization. A consortium led by Alvarez & Marsal Middle East Limited is working on cleaning up Discos’ balance sheets, which currently reflect over…

Read More