Author: Admin

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…

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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…

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Tensions in the Middle East escalated sharply as the United States military announced it would begin enforcing a naval blockade on all Iranian ports starting Monday, following the breakdown of high-stakes negotiations held in Islamabad. The move comes after talks between Washington and Tehran failed to yield an agreement, with Donald Trump blaming Iran’s refusal to abandon its nuclear ambitions. The announcement signals a significant escalation in the ongoing conflict, raising fears of further destabilisation in global energy markets. According to United States Central Command, the blockade will target vessels…

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KARACHI: In a major step towards transforming Pakistan’s energy landscape, Moro Power Company (MPC) has signed a strategic agreement with PowerChina for the development of the country’s first business-to-business (B2B) renewable electricity project. The agreement, signed on Saturday, marks a pioneering initiative under the Sindh Electric Power Regulatory Authority (SEPRA), enabling MPC to directly supply electricity to industrial consumers in Nooriabad through the Sindh Transmission and Despatch Company (STDC). MPC Chief Executive Officer Mustafa Abdullah stated that the partnership with PowerChina will focus on technical collaboration, including engineering, procurement, and…

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ISLAMABAD: In a bid to curb rising electricity tariffs and manage looming power shortages, the government is preparing to significantly increase domestic natural gas supply to the power sector, as imported liquefied natural gas (LNG) remains unavailable and summer demand surges. According to informed sources, gas supply to power plants is expected to nearly double—from the current 85–90 million cubic feet per day (mmcfd) to around 160–170 mmcfd by the end of April or early May. An additional 20–25 mmcfd may be diverted from the CNG sector, subject to the…

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