MOSCOW: Russia has revised up its crude oil export plan from western ports by 200,000 barrels per day (bpd) in August from the initial schedule after Ukrainian drone attacks disrupted refinery operations and freed up more crude for shipment, three people familiar with the matter said. Export planning remains uncertain, however, due to ongoing strikes and shifting repair schedules, so delays and volume revisions are likely, they said. “Attacks are ongoing and repair deadlines change daily. It’s unclear how much Russia can load this month or next,” one person said.…
Read MoreAuthor: Admin
H.E. Minister Saad Sherida Al-Kaabi meets Pakistan’s Petroleum Minister
His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, met in Doha today with H.E. Mr. Ali Pervaiz Malik, the Federal Minister of Petroleum of the Islamic Republic of Pakistan. Discussions during the meeting dealt with bilateral relations and cooperation in the field of energy between Qatar and Pakistan and means to enhance them.
Read MorePakistan clears Rs100 billion Chinese energy debt
ISLAMABAD: Pakistan has decided to settle over Rs100 billion in dues owed to Chinese power plants ahead of Prime Minister Shehbaz Sharif’s upcoming visit to Beijing, reducing the country’s outstanding obligations to Chinese producers by nearly one-fourth. This move aims to address one of Beijing’s major concerns. Monsoon safety gear The Ministry of Finance has issued instructions to release the funds from the power sector subsidies earmarked in this fiscal year’s budget, according to government officials. They said that it is expected the Rs100 billion will be disbursed to the…
Read MoreAMI meter to be a game-changer in curbing power theft: IESCO CEO
ISLAMABAD: The Chief Executive Officer Islamabad Electric Supply Company (IESCO), Engineer Ch Khalid Mahmood, has said that the introduction of Advanced Metering Infrastructure (AMI) meters is a revolutionary step in the power sector of Pakistan having many advanced features and fight against electricity theft and in ensuring transparency is one of those. While giving brief Engineer Ch Khalid Mahmood said AMI meters are equipped with modern features that automatically detect and report theft attempts and meter disturbances to the AMI Operation Centre. Recently numerous power theft and meter accuracy disturbance…
Read MoreOil prices edge up as traders weigh supply risks
LONDON: Oil prices climbed on Monday as traders weighed concerns that Russian supply could be disrupted by more U.S. sanctions and Ukrainian attacks targeting energy infrastructure in Russia. Brent crude futures rose 40 cents, or 0.6%, to $68.13 by 1200 GMT, and West Texas Intermediate (WTI) crude futures gained 44 cents, or 0.7%, to $64.10. “The market is somewhat concerned that these peace negotiations are going nowhere,” said Ole Hansen, head of commodity strategy at Saxo Bank. “The market is looking for supply to exceed demand in the autumn months, but in…
Read More