Author: Admin

ISLAMABAD: High-level negotiations between the United States and Iran ended without agreement after nearly 21 hours of intensive talks in Islamabad, with both sides blaming each other for the breakdown. Speaking before departing for Washington, US Vice President JD Vance said the talks stalled because Tehran refused to commit to abandoning its pursuit of nuclear weapons capability. “The bad news is that we have not reached an agreement, and I think that’s bad news for Iran much more than it is for the US,” Vance stated, adding that Washington’s core…

Read More

ISLAMABAD: Pakistan’s Power Division has put its ambitious $36 billion circular debt refinancing plan on hold after failing to secure concessional financing from international lenders and Saudi Arabia, sources in the power sector revealed. The plan, previously shared with World Bank and Asian Development Bank, aimed to refinance the power sector’s mounting debt over 13 years starting from FY2027. It was designed to ease the sector’s debt servicing burden and reduce electricity tariffs, particularly for industry. The proposal had also been presented to Prime Minister Shehbaz Sharif in December 2025.…

Read More

RIYADH: Saudi Arabia has successfully restored full pumping capacity on its critical East–West crude pipeline, reaching approximately 7 million barrels per day (b/d), following recent disruptions caused by regional attacks, the Kingdom’s energy ministry confirmed on Sunday. The pipeline—linking eastern oil fields to the Red Sea export terminal at Yanbu—had seen its capacity reduced by around 700,000 b/d after a strike targeted one of its pumping stations. Swift repair efforts have now brought operations back to full capacity within a short timeframe. In parallel, Saudi authorities also restored approximately 300,000…

Read More

KARACHI: Pakistan State Oil Company Limited (PSO) has announced the appointment of Jawwad Ahmed Cheema as its new Chief Executive Officer for a three-year term, effective May 18, 2026. He will succeed interim CEO Abdus Sami. The decision was approved by PSO’s Board of Management during its meeting on April 11, 2026, according to a notice submitted to the stock exchange. The leadership transition comes shortly after Syed Taha, former Managing Director and CEO of PSO, was appointed as Chief Executive Officer of K-Electric. Jawwad Cheema brings over 28 years…

Read More

SINGAPORE: Global oil prices surged sharply on Monday, climbing above $100 per barrel, as markets reacted to the United States Navy preparations to enforce a blockade on Iranian maritime trade routes amid escalating geopolitical tensions. Benchmark Brent crude rose by $6.96, or 7.3%, to reach $102.16 per barrel in early trading, after slipping slightly in the previous session. Meanwhile, West Texas Intermediate (WTI) jumped $8.12, or 8.4%, to $104.69 per barrel, reversing earlier losses. The sharp price rally follows the announcement by Donald Trump that the US would begin blockading…

Read More