Author: Admin

Venezuela’s Oil Industry Under Spotlight After US Military Action

Admin
Oil-prodect

HOUSTON: Venezuela’s troubled oil industry has come sharply back into focus following dramatic developments in US–Venezuela relations, including a large-scale US military air strike and the reported capture of President Nicolás Maduro on Saturday, just a day after he said Caracas was open to negotiations with Washington on combating drug trafficking—an allegation for which US President Donald Trump has presented no evidence. The unfolding situation has renewed global attention on Venezuela’s vast but underperforming oil sector. The country holds the world’s largest proven oil reserves, estimated at 303 billion barrels…

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3 New Firms Apply for Gas Sale Licences as Existing Private Players Remain Largely Inactive

Admin
natural gas prices

ISLAMABAD: Despite nearly a dozen private firms holding licences to sell natural gas but remaining mostly non-operational, three new companies have applied to enter Pakistan’s gas market following recent policy reforms aimed at increasing private-sector participation. The Oil and Gas Regulatory Authority (Ogra) has formally admitted licence applications from Blue Gas (Pvt) Ltd, Essen Gas Marketing & Distribution Ltd, and Master Marketing International to undertake the regulated activity of natural gas sales. In their submissions, the applicants stated that they intend to utilise the existing pipeline infrastructure of the two…

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UN-ESCAP to Support Pakistan in Developing Energy Transition Investment Plan

Admin
Power genration

ISLAMABAD: The United Nations Economic and Social Commission for Asia and the Pacific (UN-ESCAP) will provide policy advisory and technical support on energy financing to assist Pakistan in developing its Energy Transition Investment Plan (ETIP), aimed at accelerating the country’s shift towards a sustainable and resilient energy future. At the request of the government, a UN-ESCAP scoping mission recently visited Pakistan and held consultations with relevant ministries and development partners to assess the country’s needs, challenges, and opportunities related to energy transition financing. According to UN-ESCAP, the mission helped identify…

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Tesla Loses EV Crown to China’s BYD as Competition, Tax Credit Expiry Hit Demand

Admin
New-Project114

Tesla has ceded its position as the world’s largest electric vehicle maker to China’s BYD after global deliveries fell for a second consecutive year, as intensifying competition, the expiry of US tax incentives and brand-related challenges weighed on demand. While global EV sales rose 28 per cent last year, BYD overtook Tesla on an annual basis for the first time, driven largely by rapid growth in Europe and expanding overseas sales. The development has raised questions over Tesla’s ability to stabilise its core auto business even as it pivots toward…

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Petroleum Product Sales Drop 5pc in December on Weaker HSD Demand

Admin
Petrol-Diesel

KARACHI: Sales of petroleum products declined by 5.0 per cent in December 2025 compared with November, mainly due to weaker demand for high-speed diesel (HSD) amid a prolonged nationwide strike by goods transporters and subdued overall consumption. Industry sources said total petroleum product sales stood at 1.35 million tonnes in December, showing a 6.0 per cent increase year-on-year (YoY) but a 5.0 per cent decline month-on-month (MoM). The YoY growth was attributed to signs of economic recovery, easing inflation and improved control of fuel smuggling, while the MoM drop was…

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