Day: July 29, 2025

Oil prices rise 1% on trade war relief, US pressure on Russia

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Oil prices

NEW YORK: Oil prices rose on Tuesday, extending the previous day’s rally, on optimism that a trade war between the United States and its major trading partners was abating and as President Donald Trump ramped up pressure on Russia over its war in Ukraine. Brent crude futures were up 95 cents, or 1.36%, at $70.99 a barrel at 12 p.m. EDT (1600 GMT), having touched their highest since June 23, while U.S. West Texas Intermediate crude was at $67.70, up 99 cents, or 1.48%. Both contracts settled more than 2%…

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Fuel prices in Pakistan set to drop from August 1: report 

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Petrol-Diesel

Petrol to decline by Rs6.82, diesel by Rs1.68; declining ex-refinery prices allow the government to re-impose a Rs2.50/ltr petroleum levy on both ISLAMABAD: Petroleum product prices are expected to undergo a mixed revision from August 1, 2025, with petrol (PMG) and high-speed diesel (HSD) likely to become cheaper, while kerosene and light diesel oil (LDO) may see slight increases. High-speed diesel (HSD), the primary fuel for heavy transport and agriculture machinery, is also anticipated to see a downward revision in prices. The ex-refinery price of HSD may be reduced by…

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Reduced RLNG Usage by Power Plants Triggers Closure of Local Gas Fields, Sparks Energy Supply Crisis

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New-RLNG

ISLAMABAD: A significant reduction in the use of imported Re-gasified Liquefied Natural Gas (RLNG) by Pakistan’s power sector has led to the shutdown of local gas fields producing up to 400 million cubic feet per day (mmcfd), sparking concerns over long-term damage to the country’s energy infrastructure. According to official data, four RLNG-based power plants — originally declared must-run projects — are now operating below capacity in breach of their gas supply contracts. These plants were built under sovereign-backed take-or-pay agreements with Qatar and Italy’s ENI, supported by a dedicated…

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29 Oil Marketing Companies Go Digital in Pakistan’s Oil Supply Chain Overhaul

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Oil prices

ISLAMABAD: In a significant move toward modernizing Pakistan’s petroleum sector, 29 Oil Marketing Companies (OMCs) have adopted Enterprise Resource Planning (ERP) systems to integrate with the Oil and Gas Regulatory Authority’s (OGRA) national Track & Trace System. The digital transformation aims to enhance transparency, safety, and efficiency in the oil supply chain, from refineries and import terminals to depots, tank lorries, and retail outlets. Officials revealed that around 15,000 tank lorries have already been equipped with GPS tracking devices to curb fuel smuggling, illegal decanting, and other malpractices. During a…

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Punjab CM Maryam Nawaz Launches ‘Waste to Value’ Project to Transform Trash into Revenue

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New-Project15

LAHORE: Punjab Chief Minister Maryam Nawaz has officially launched the “Waste to Value” project under the Suthra Punjab Programme, marking a transformative step in sustainable waste management and renewable energy generation in the province. Chairing a detailed briefing session on the Lahore Waste Management Company’s (LWMC) biogas-from-waste initiative, CM Maryam announced the success of Punjab’s first-ever experiment to produce biogas from biodegradable animal waste at Lakhodair, Lahore. She directed officials to expedite the project rollout, highlighting its potential to convert 1,000 metric tons of waste into 20,000–25,000 kg of gas,…

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