Day: April 25, 2025

Oil set for weekly fall amid supply pressure, tariff uncertainty

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Oil prices

LONDON: Oil prices fell on Friday and were set for a weekly decline of over 3% on the back of oversupply concerns and uncertainty around tariff talks between the United States and China. Brent crude futures were down 82 cents to $65.73 a barrel at 1215 GMT, falling 3.3% over the week. U.S. West Texas Intermediate crude was down 81 cents to $61.98 a barrel, a decline of 4.2% for the week. “… Prices are down as concerns over oversupply from OPEC+ persist, while the demand outlook remains uncertain amid…

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Iran, Russia agree on 55 bcm of gas supplies, nuclear plant funding

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Nuclear-Power

MOSCOW: Moscow and Tehran have reached a deal on 55 billion cubic metres of Russian gas supplies a year, though prices are yet to be agreed, while Russia also pledged to fund construction of a new nuclear power plant in Iran, officials said on Friday. The preliminary agreements came as the United States is looking to isolate Iran from the rest of the world unless Tehran agrees to a new deal for inspections of its nuclear facilities. Russia has deepened ties with Iran since the start of the military conflict…

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Global LNG: Asian spot prices hold at 1-year low as demand remains tepid

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LNG

SINGAPORE: Prices of Asian spot liquefied natural gas (LNG) inched up this week amid production outages in Asia and Europe, but were still hovering at nearly one-year lows on overall tepid demand. The average LNG price for June delivery into north-east Asia was at $11.80 per million British thermal units (mmBtu), estimated industry sources, up from $11.50/mmBtu last week which were its lowest levels since mid-May. There are limited buyers for prompt cargoes, with Chinese and Indian importers taking a back seat as prices are above $11.00/mmBtu, said Argus head…

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LESCO to Launch ‘Apna Meter, Apni Reading’ App for Self-Metering in Lahore

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LESCO-New

LAHORE – In a move to boost transparency and reduce billing disputes, the Lahore Electric Supply Company (LESCO) is set to roll out a new mobile application allowing consumers to submit their own electricity meter readings. The initiative, titled ‘Apna Meter, Apni Reading’, was announced by LESCO Chief Executive Officer Ramzan Butt during his recent address at the Lahore Chamber of Commerce and Industry. While technical details and visuals of the app remain under wraps, the official launch is expected soon. “The survival of the country is directly linked to…

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Big Relief for Solar Consumers in Pakistan as Installation Costs Drop

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Relief-Solar

KARACHI – In a major boost for solar energy adoption, the cost of installing solar systems in Pakistan has dropped significantly, offering welcome relief for consumers amid soaring electricity bills and heatwave warnings across the country. The Lahore Electricity Supply Company (LESCO) has slashed the price of AMI bi-directional meters from over Rs52,000 to Rs42,000. The reduction follows LESCO’s shift from older green bi-directional meters to advanced AMI technology, making the transition to solar more affordable. The revised price includes all associated charges, further easing the financial burden on consumers.…

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