Day: May 20, 2025

China’s crude oil imports from Russia fall in April; imports from Malaysia surge

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crude oil

China’s imports of crude oil from Russia fell 12.9% in April from a year earlier, coming in at 8.07 million metric tons or 1.96 million barrels per day, Chinese customs data showed on Tuesday. Russian supply to China also declined 5.8% on a monthly basis, down from 2.08 million bpd in March. Imports from Malaysia, the top trans-shipment hub for sanctioned Iranian oil, stood at 7.95 million tons in April, or 1.93 million bpd, down 6.3% from March, but up 96.9% year-on-year. China’s total crude oil imports stood at 48.06…

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WGC-TotalEnergies CEO will propose lifting force majeure on Mozambique LNG project

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totalenergies

BEIJING: TotalEnergies plans to propose to the Mozambique government to lift the force majeure on its liquefied natural gas (LNG) project there and plans to resume construction by mid-summer, CEO Patrick Pouyanne said on Tuesday. TotalEnergies sells 50% stake in Polish biogas company to HitecVision The French energy major is also looking at reducing the capital expenditure of its Papua LNG project by 20%-25%, he told Reuters on the sidelines of the World Gas conference.

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COAS Gen Asim Munir Promoted to Field Marshal Rank

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New-Project23

Islamabad, May 21, 2025 — In a landmark decision, the federal government has promoted Chief of the Army Staff (COAS) General Asim Munir to the rank of Field Marshal, the highest military rank in Pakistan. The promotion was approved during a federal cabinet meeting chaired by Prime Minister Shehbaz Sharif. The cabinet recognized Gen Munir’s pivotal role in ensuring national security and demonstrating exceptional strategic leadership during “Operation Bunyan-um-Marsoos.” The government lauded his “courageous leadership” and “impeccable operational command” that led to the successful defeat of hostile elements and safeguarded…

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Pakistan to Raise Fuel Levy Above Rs100/Litre Under New IMF Accord

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Petroleum-prices

ISLAMABAD: In a bid to curb circular debt and fund energy sector subsidies, Pakistan will increase the Petroleum Development Levy (PDL) to over Rs100 per litre on petrol and diesel in the upcoming fiscal year starting *July 2025, as part of a fresh understanding with the *International Monetary Fund (IMF) under the Extended Fund Facility (EFF). Currently, the PDL stands at Rs78 per litre on petrol and *Rs77 on diesel, having already surged from Rs60 since July 2024. This hike has generated over *Rs1 trillion in revenue during the first…

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Sindh Ministers Visit Chery HQ in China, Secure EV Charging and Solar Projects for Province

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Nasir-Shah1

WUHU, China: Sindh Senior Minister Sharjeel Inam Memon and Provincial Minister for Energy, Planning, and Development Syed Nasir Hussain Shah visited the headquarters of Chery Holdings Group in Wuhu, China, where they were warmly received by Chairman Yin Tongyue. During the high-level meeting, Chairman Yin reaffirmed Chery’s commitment to the sustainable development of electric vehicles (EVs) and alternative energy projects in Pakistan. Both ministers praised Chery’s green initiatives and reaffirmed Sindh’s dedication to fostering such collaborations to achieve energy efficiency and environmental sustainability. As a result of the visit, *Chery…

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