Author: Admin

Oil up on hopes of positive US-China trade talks

Admin
Oil falls

NEW YORK: Oil prices edged up 1% to a seven-week high on Tuesday on hopes trade talks between the US and China – the world’s two biggest economies – will result in a deal that could support global economic growth and boost oil demand. Brent crude futures rose 81 cents, or 1.2%, to $67.85 a barrel by 11:22 a.m. EDT (1522 GMT), while US West Texas Intermediate crude rose 83 cents, or 1.3%, to $66.12. Those gains pushed both crude benchmarks into technically overbought territory for the first time since…

Read More

Oil rises to 7-week high on US-China trade deal

Admin
Oil price

LONDON: Oil prices rose to their highest in seven weeks on Wednesday as U.S. President Donald Trump said a deal had been done with China, heightening expectations of a de-escalation in trade tensions between the world’s two largest economies. Brent crude futures were up $1.15, or 1.7%, to $68.02 a barrel at 1249 GMT, while U.S. West Texas Intermediate crude was up $1.31, or 2%, to $66.29. At that level, WTI reached its highest in more than two months. Trump said Beijing would supply magnets and rare earth minerals and…

Read More

Oil & Gas Sector Achieves Key Milestones Amid Renewed Investment: Aurangzeb

Admin
oil and gas

ISLAMABAD: Federal Finance Minister Senator Muhammad Aurangzeb announced on Tuesday that Pakistan’s oil and gas sector has witnessed substantial progress in recent years, marked by diversification, regulatory reforms, and growing foreign investment. Delivering the Budget 2025–26 speech, the minister highlighted renewed interest from international firms, particularly Turkish Petroleum, in exploration and production (E\&P) through competitive bidding — a major step forward for the onshore segment after years of stagnation. He also noted the launch of the Pakistan Offshore Exploration Bid Round 2024 — the first in over a decade —…

Read More

Govt Proposes 10% Power Bill Surcharge to Tackle Mounting Circular Debt

Admin
Your-Bill

ISLAMABAD: In a bid to arrest the spiraling circular debt in the power sector, the federal government has proposed a 10% surcharge on electricity bills, a move tied to its ongoing reform commitments under the IMF programme. Announced by Finance Minister Muhammad Aurangzeb during the budget speech, the surcharge—termed the Debt Servicing Surcharge (DSS)—will be used solely for the repayment of principal debt, not interest or mark-up. The measure is part of a broader strategy to refinance and manage the existing liabilities in the energy sector without further worsening fiscal…

Read More

Rs133.4bn Allocated for Hydropower and Water Projects in FY2025-26

Admin
Dasu-Hydropower1

ISLAMABAD: The federal government has earmarked Rs133.4 billion for hydropower and water sector development under the Public Sector Development Programme (PSDP) 2025-26, aiming to bolster energy generation and improve water infrastructure across the country. Key allocations include Rs20 billion for the Dasu Hydropower Project (Stage-I) and Rs25 billion for the Diamer Basha Dam, with an additional Rs7.787 billion set aside for land acquisition and resettlement. The Mohmand Dam Project (800MW) receives a substantial Rs35.724 billion, reflecting its national priority status. Other major hydropower allocations include Rs3.4 billion for the Tarbela…

Read More