Author: Admin

Oil Prices Plunge 4% as U.S. Slaps 104% Tariffs on China, Demand Outlook Dims

Admin
Oil prices

SINGAPORE/BEIJING: Oil prices tumbled to their lowest levels in over four years on Wednesday, rattled by escalating trade tensions between the United States and China, coupled with rising global supply concerns. The downturn follows the U.S. imposition of a staggering 104% tariff on Chinese imports, reigniting fears of a prolonged trade war and weakening fuel demand. Brent crude fell by $2.38, or 3.79%, to $60.44 per barrel, while U.S. West Texas Intermediate (WTI) dropped $2.46, or 4.13%, to $57.12 — both hitting their lowest since February 2021. Brent’s six-month spread…

Read More

Pakistan, Saudi Arabia Explore Deeper Collaboration in Energy and Minerals Sectors

Admin
Saudi-Pak1

ISLAMABAD: A high-level Saudi delegation led by Deputy Minister for Mining Abdulrahman Al-Belushi met with Pakistan’s Federal Minister for Petroleum, Ali Pervaiz Malik, to explore avenues for enhanced collaboration in the energy and minerals sectors. The meeting took place on the sidelines of the Pakistan Minerals Investment Forum 2025, highlighting growing bilateral ties and mutual investment interest. Minister Malik highlighted Pakistan’s immense potential in oil, gas, and mineral resources, reaffirming the government’s commitment to fostering a foreign investor-friendly environment. “We are focused on building an investor-conducive ecosystem, ensuring ease of…

Read More

Jam Kamal Calls for global and local collaboration to unlock 95% unexplored reserves

Admin
Jam-Kamal

ISLAMABAD: Federal Minister for Commerce, Jam Kamal Khan, has called for ramped-up foreign and local investment to unlock Pakistan’s vast untapped mineral resources—nearly 95% of which remain unexplored. Speaking at the inaugural session of the Pakistan Minerals Investment Forum 2025, jointly hosted by the Oil and Gas Development Company Limited (OGDCL) and the Special Investment Facilitation Council (SIFC), Kamal underscored the immense potential lying beneath Pakistan’s soil. “You have a country where 95% of mineral resources are yet to be explored in the way they should be. This is a…

Read More

Pakistan and Turkiye signed a joint bidding agreement to jointly participate in offshore bid round of Pakistan

Admin
ministry-of-pakistan

Minister for Petroleum Ali Pervaiz Malik and Alparslan Bayraktar, Minister of Energy and Natural Resources of Turkiye witnessed the signing ceremony. In a significant development, Pakistan and Turkiye have stepped into cooperation in oil and gas exploration. On the sideslines of Pakistan Minerals Investment Forum 2025, Pakistan and Turkiye have signed a joint bidding agreement to jointly participate in offshore bid round of Pakistan.In February 2025, the Government of Pakistan announced an offshore block bid round, offering forty (40) offshore blocks in the Makran and Indus basins for the grant…

Read More

TDAP CEO Zubair Motiwala Steps Down to Focus on Business

Admin
Zubair-Motiwala

TDAP CEO Zubair Motiwala Steps Down to Focus on Business January 24, 2025 KARACHI: Zubair Motiwala, Chief Executive of the Trade Development Authority of Pakistan (TDAP), has resigned from his position, citing personal reasons. Speaking to The News on Thursday, Motiwala confirmed his decision, stating, “I resigned to focus fully on my own business.” A renowned textile industrialist and exporter, Motiwala has held several prominent roles, including President of the Karachi Chamber of Commerce and Industry (KCCI), Chairperson of the SITE Association of Industry, and Chairperson of the Board of…

Read More