Day: April 29, 2025

Oil prices fall 2% to 2-week low as trade war concerns dampen demand outlook

Admin
Oil prices

NEW YORK: Oil prices fell about 2% to a two-week low on Tuesday on expectations OPEC+ will boost output even as U.S. President Donald Trump’s on-again off-again trade tariffs could reduce global economic growth and demand for the fuel. Brent crude futures fell by $1.41, or 2.1%, to $64.45 per barrel by 11:03 a.m. EDT (1503 GMT), while U.S. West Texas Intermediate crude dropped by $1.36, or 2.2%, to $60.69. That puts both benchmarks on track for their lowest closes since April 10. Trump’s push to reshape world trade by…

Read More

Petrol Price Cut Uncertain Despite Global Oil Slump

Admin
Fuel-Prices

ISLAMABAD: While global oil prices continue to slide, Pakistan’s domestic fuel prices may remain unchanged or see only a marginal reduction on May 1, as the government weighs its options amid fiscal pressures. Brent crude has dropped to *$66.60 per barrel, while *WTI stands at *$62.85, reflecting a **3% weekly decline. Under normal circumstances, such a trend would trigger a price cut in Pakistan. However, uncertainty looms due to recent policy shifts that allow the government to *adjust the petroleum levy without limit. In the last fortnightly review on *April…

Read More

Circular Debt Drops 14% to Rs2.4tr Amid Improved Recoveries, Despite Payables Surge

Admin
Circular-Debt

ISLAMABAD: Pakistan’s circular debt in the power sector stood at Rs2.396 trillion by the end of March 2025 — marking a marginal Rs2 billion rise since July 1, but a notable Rs398 billion reduction compared to March 2024. According to a Power Division report covering the first three quarters (July–March) of the current fiscal year, payables to power producers increased by Rs33 billion to Rs1.633 trillion, up from Rs1.60 trillion in July 2024. In contrast, Gencos’ liabilities to fuel suppliers fell to Rs79 billion from Rs110 billion. The debt stock…

Read More

Federal Minister of Petroleum Ali Pervaiz Malik Meets Vice Energy Minister of Kazakhstan to Strengthen Bilateral Energy Cooperation

Admin
New-Project7

Islamabad, April 28,2025 Federal Minister for Petroleum Ali Pervaiz Malik held a productive meeting with the Vice Minister of Energy of the Republic of Kazakhstan,H.E. Arymbek Kudaibergen, today in Islamabad. The high-level discussion focused on enhancing bilateral cooperation in the energy sector, including oil and gas exploration, minerals and investment opportunities. Both sides emphasized the importance of strengthening Pakistan-Kazakhstan relations, particularly in energy collaboration. Minister Ali Pervaiz Malik highlighted Pakistan’s growing energy demands and expressed interest in leveraging Kazakhstan’s expertise in hydrocarbon resources and mining. The Vice Minister of Energy…

Read More