Day: August 31, 2026

WASHINGTON: US President Donald Trump has said oil from a recently announced deal with Venezuela will be used to replenish the country’s Strategic Petroleum Reserve (SPR), which has fallen sharply in recent years amid efforts to cushion the impact of global supply disruptions and high fuel prices. In a social media post on Sunday, Trump said the process of “topping out” the reserve would begin shortly, describing the Venezuelan crude as a “Gift from Venezuela to the People of the United States.” However, it remains unclear how quickly Venezuelan oil…

Read More

ISLAMABAD: The conflict involving Iran and disruption to shipping through the Strait of Hormuz have significantly increased energy import costs across South Asia, adding pressure on Pakistan’s foreign exchange reserves, inflation and external account. Pakistan’s petroleum import bill rose sharply in the months following the escalation of the Iran conflict, increasing from around $983 million in March 2026 to $1.28 billion in July, while peaking at nearly $1.91 billion in June, according to official trade data. Cumulatively, Pakistan’s petroleum-group imports during March-July 2026 stood at approximately $7.7-$7.9 billion, compared with…

Read More

ISLAMABAD: The government has invited international competitive bids for the rehabilitation of fire-damaged Steam Turbine-16 (ST-16) at the Guddu 747 Power Plant, a project expected to restore 297MW of generation capacity and reduce the plant’s generation cost by Rs4.19 per unit. According to the Power Division, rehabilitation of the turbine and its associated generator would bring the generation cost down from Rs13.87 to Rs9.68 per unit, while enabling the plant to return to full combined-cycle operation. ST-16 has remained out of service since a fire in July 2022, forcing the…

Read More

KARACHI, Pakistan — Mari Energies Limited and xLoop Digital celebrated the graduation of Cohort I of the Mari Digital Skills, Training & Employment Program at a ceremony held at xLoop Digital’s Karachi office.The five-month programme trained 44 young people from rural areas of Pakistan, including five female participants, in Artificial Intelligence, Agentic Development and Full Stack Development. The programme combined structured learning with hands-on, project-based experience to prepare participants for careers in the technology sector. Significantly, all 44 graduates have been placed into internships and employment.The ceremony was attended by…

Read More

ISLAMABAD: Legal experts, diplomats and international researchers have warned that India’s decision to place the 1960 Indus Waters Treaty (IWT) in abeyance could constitute a breach of international law and create serious risks for regional stability and security. The experts voiced their concerns during a webinar titled “Violation of the Indus Waters Treaty by India”, organised by the Islamabad Policy Research Institute (IPRI). Participants cautioned that India’s move, announced following the Pahalgam attack and accompanied by the closure of sluice gates at the Baglihar Dam on the Chenab River, amounted…

Read More