Author: Admin

LONDON: OPEC has lowered its forecast for global oil demand growth in 2026, citing the economic and energy market impact of the ongoing Iran conflict and disruptions in the Middle East. In its latest monthly report released on Wednesday, OPEC projected global oil demand to increase by 1.17 million barrels per day (bpd) in 2026, down from its previous estimate of 1.38 million bpd. The producer group, however, raised its forecast for 2027, expecting global oil demand to grow by 1.54 million bpd — an upward revision of 200,000 bpd…

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ISLAMABAD: Load management was enforced in several parts of Lahore after severe windstorms damaged key transmission circuits operated by the National Grid Company, disrupting electricity supply in the city. According to a spokesperson for the Independent System and Market Operator (ISMO), strong winds caused the collapse of 12 transmission towers linked to the 220kV Lahore North Circuit-I, Bund Road Circuit-I, and Bund Road Circuit-II. The damage led to overloading on the Lahore North and Lahore North–Sheikhupura transmission circuits, forcing authorities to implement load management ranging between 50 MW and 200…

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BEIJING: Chinese President Xi Jinping called for China and the United States to become “partners and not rivals” as crucial two-day talks with US President Donald Trump officially began in Beijing on Thursday amid rising geopolitical and trade tensions. The summit opened with an elaborate welcome ceremony at the Great Hall of the People, where Xi greeted Trump with a handshake before meeting senior members of the US delegation, including Defense Secretary Pete Hegseth and Secretary of State Marco Rubio, long regarded as a strong critic of Beijing. Chinese military…

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ISLAMABAD: The estimated construction costs of Pakistan’s two major hydropower projects — the Mohmand Dam and Dasu Hydropower Project — have risen by a combined Rs1.607 trillion, increasing the total projected cost from nearly Rs800 billion to around Rs2.4 trillion. According to documents submitted by the Ministry of Water Resources to the National Assembly, the cost of the Mohmand Dam Hydropower Project has increased from Rs309.558 billion to Rs665.743 billion, marking an escalation of Rs356.18 billion. The ministry stated that the original cost estimate had been approved under the project’s…

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ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has approved the payment of fees for various regulatory services through digital channels, replacing the previous requirement of payments exclusively through traditional banking instruments. In this regard, NEPRA has issued three Statutory Regulatory Orders (SROs) — 861, 862, and 863 — aimed at facilitating government organisations, private companies, and individual applicants by modernising payment procedures. According to SROs 861 and 862, the term “digital means” encompasses a broad range of electronic payment and financial services. These include online payment portals and platforms,…

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