Day: April 21, 2026

SINGAPORE: China’s fuel oil exports surged to a three-month high in March, driven largely by increased low-sulphur marine fuel sales, while imports declined amid softer refinery demand and shifting market dynamics, according to official data. Exports rose sharply by 57% month-on-month to 1.93 million metric tons (around 395,000 barrels per day), marking a 10% increase compared to the same period last year. The growth was supported by competitive pricing, as bunker fuel rates at Chinese ports fell below those in Singapore toward the end of the month, attracting additional demand.…

Read More

PARIS: A surge in renewable energy—particularly solar power—helped curb the growth of global emissions in 2025, even as advanced economies recorded a surprising uptick, according to a new report by the International Energy Agency. The agency reported that energy-related carbon dioxide emissions rose by just 0.4% in 2025, marking a slowdown compared to recent years. The moderation was largely driven by rapid solar expansion in developing economies, which helped offset rising emissions in wealthier nations. Global energy demand growth also eased to 1.3%, slightly below the previous decade’s average. Meanwhile,…

Read More

KARACHI: Syed Murad Ali Shah announced that the Sindh government has disbursed Rs146.77 million under its targeted fuel subsidy programme, benefiting 3,976 vehicles so far, as part of efforts to ease the impact of rising fuel prices on the transport sector. Chairing a high-level meeting at the CM House, the chief minister was informed that nearly 12,000 vehicles have been identified as eligible under the scheme, jointly funded by the federal and provincial governments. However, over 5,000 cases remain under review due to issues such as CNIC mismatches, missing bank…

Read More

ISLAMABAD: Pakistan has engaged the International Finance Corporation (IFC) as transaction adviser to attract private investment for the installation of 10 million smart meters across electricity distribution companies (DISCOs), marking a major step toward digital transformation in the power sector. The agreement, signed between the Power Division of the Ministry of Energy and IFC, involves a Transaction Advisory Services Agreement (TASA). Under this arrangement, IFC will conduct a comprehensive techno-commercial assessment and help structure a service-provider or public-private partnership model for the nationwide rollout. The initiative, first announced in October…

Read More

ISLAMABAD: The Directorate General of Petroleum Concessions (DGPC) has raised serious concerns over the alleged misuse of confidential documents by Frontier Holdings Ltd (FHL), intensifying regulatory scrutiny amid an ongoing ownership dispute. In a formal communication, the DGPC—operating under the Ministry of Energy—has asked FHL to clarify its position regarding the alleged unlawful acquisition and use of inquiry reports in legal and international proceedings. According to the letter, FHL relied on what it termed “inquiry reports” in Writ Petition No. 2117 of 2023 before the Islamabad High Court, as well…

Read More