Author: Admin

Trump Floats Peace Plan as Iran Eases Hormuz Passage for ‘Non-Hostile’ Vessels

Admin
Donald-Trump

US President Donald Trump has sent a proposed peace plan to Iran, expressing optimism about ending nearly a month-long conflict, as Tehran signalled limited de-escalation by allowing “non-hostile” vessels to transit the strategic Strait of Hormuz. Speaking at the White House, Trump confirmed that negotiations with Iran were underway, hinting at a positive development linked to the Strait, though he did not disclose details. Shortly afterward, Iran, via the International Maritime Organization, assured safe passage for vessels not deemed hostile—offering relief to global energy markets. The Strait of Hormuz, which…

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Govt Weighs Fuel Price Unfreeze as Global Surge Intensifies Pressure

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Petrol-Price

ISLAMABAD: The government is considering unfreezing petrol and diesel prices amid a sharp rise in global fuel costs, while exploring targeted subsidies for vulnerable segments such as two- and three-wheeler users. Despite keeping petrol and high-speed diesel prices unchanged in recent weeks, authorities have quietly increased rates of jet fuel (JP-1) and kerosene. Official figures show JP-1 prices surged by Rs84 per litre to Rs472, marking a nearly 150% increase since early March, while kerosene rose by Rs71 per litre to Rs429, up 127% over the same period. The price…

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Qatar Energy Declares Force Majeure on LNG Contracts Amid Supply Disruptions

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Qatar-Energy

DOHA: QatarEnergy has declared force majeure on several long-term liquefied natural gas (LNG) supply contracts, citing disruptions affecting its delivery commitments. The move impacts key international buyers, including customers in Italy, Belgium, South Korea, and China. Force majeure, a contractual clause that allows suppliers to suspend obligations due to unforeseen circumstances, signals significant strain on global LNG supply chains amid ongoing geopolitical and market volatility. The development is expected to heighten concerns among importing nations already facing tight energy markets, potentially leading to increased competition for alternative LNG cargoes and…

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OMAP Warns of Fuel Supply Risks, Urges Immediate Policy Reforms

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New-Petrol-1

LAHORE: The Oil Marketing Association of Pakistan (OMAP) has raised serious concerns over fuel supply stability, urging the government to take immediate policy action to address challenges posed by the current Price Differential Claims (PDC) mechanism. In letters addressed to Ali Pervaiz Malik and the chairman of Oil and Gas Regulatory Authority (OGRA), OMAP Chairman Tariq Wazir Ali termed the situation in the downstream petroleum sector as “increasingly unsustainable.” While acknowledging government efforts to maintain fuel price stability amid regional geopolitical tensions, OMAP highlighted that PDC levels have surged to…

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Aurangzeb Orders Vigilant Monitoring of Oil Stocks to Ensure Supply Stability

Admin
New-Project112

ISLAMABAD: Federal Finance Minister Muhammad Aurangzeb has directed authorities to maintain strict and continuous monitoring of global developments, stock levels, and supply chains to ensure uninterrupted availability of petroleum products across Pakistan. The directive was issued during a meeting of the Committee to Monitor Petrol Prices, convened after the Eid holidays to review the country’s energy supply position amid evolving geopolitical conditions. Chairing the session, Aurangzeb emphasised that proactive planning, diversified procurement, and strong coordination among stakeholders have helped maintain stable domestic supplies despite volatility in global oil and gas…

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