Day: February 4, 2026

Petroleum Product Sales Rise 10pc in January

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petroleum-group

KARACHI: Sales of petroleum products climbed to 1.52 million tonnes in January 2026, marking a 10 per cent year-on-year (YoY) increase and a 12 per cent rise compared with December, according to industry data. Analysts attributed the annual growth to signs of economic recovery, easing inflation and improved enforcement against fuel smuggling. The month-on-month (MoM) increase was largely driven by lower petrol and diesel prices and a low base effect following a nationwide strike in December 2025 that disrupted sales for nearly 10 days. During the first seven months of…

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Pakistan Seeks Two-Year Extension in Saudi Oil Facility

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Pak-Saudi

ISLAMABAD: Pakistan has formally requested Saudi Arabia for a two-year extension of the Saudi Oil Facility (SOF) following the expiry of the existing $1.2 billion arrangement, official sources told The News on Tuesday. According to senior officials, Islamabad has sought the extension to cover the remaining period of the ongoing International Monetary Fund (IMF) programme and is awaiting a formal response from Riyadh. The current SOF, under which Saudi Arabia provides oil on deferred payment terms amounting to $100 million per month, is set to expire next month. While the…

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Aurangzeb Assures KP of Support on NFC Releases, Fiscal Issues

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Muhammad-Aurangzeb

ISLAMABAD: Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb on Tuesday assured the Khyber Pakhtunkhwa government of the federal government’s support regarding National Finance Commission (NFC) releases and related fiscal matters during a meeting with KP Chief Minister’s Adviser on Finance, Muzamil Aslam. The meeting, attended by senior officials from the Finance Division and the Khyber Pakhtunkhwa government, focused on a range of fiscal and development issues, including the timely release of funds for merged districts, financing needs for rehabilitation programmes, and support for temporarily displaced persons. The KP…

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Rs90bn Thar Coal Rail Link at Odds with Port Qasim’s Green Energy Vision

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coal-railway

KARACHI: Pakistan’s energy transition narrative is increasingly pulling in two opposing directions, creating a policy and investment dilemma centred on Port Qasim and a Rs90 billion coal-dedicated railway line from Thar. On one side, the government is close to completing a massive rail infrastructure project designed exclusively to transport lignite coal from the Thar Desert to Port Qasim. The stated objective is to reduce dependence on costly imported fuels by utilising domestic coal for power generation and industry. On the other, the same port is being promoted internationally as a…

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GE Vernova Unveils GridBeats™ APS to Simplify Modern Grid Operations

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New-Project50

San Diego: GE Vernova Inc. (NYSE: GEV) has expanded its Grid Automation portfolio with the launch of GridBeats™ APS (Automation and Protection System), a new solution aimed at helping utilities modernize substations and manage increasingly complex power grids. Part of the GridBeats™ software-defined portfolio, the new system acts as a unified platform for protection and control applications within electrical substations. By leveraging GE Vernova’s patented hardware abstraction technology, GridBeats™ APS significantly reduces hardware requirements, device footprints, and cybersecurity complexity while maintaining high levels of reliability and performance. The solution allows…

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