Author: Admin

KARACHI: The government and Pakistan State Oil (PSO) are exploring measures to strengthen the country’s strategic fuel reserves and diversify supply sources amid heightened global fuel price volatility and disruptions to key maritime routes, with a focus on safeguarding Pakistan’s energy security. The development came during Federal Minister for Petroleum Ali Pervaiz Malik’s visit to PSO’s head office in Karachi, where he held high-level strategic and operational discussions with the company’s management. According to PSO, the meeting focused on the evolving international energy environment, including volatile global fuel prices and…

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KATHMANDU: Nepal has temporarily suspended search and rescue operations due to heavy rain and poor visibility following a devastating flood in the Himalayan region bordering Tibet that has killed hundreds of people and left thousands missing. The disaster, triggered by a glacier collapse on Wednesday, sent a massive torrent of water, rocks, ice, mud and debris through mountain river systems, destroying buildings, bridges, roads and power infrastructure. At least 626 people have been killed in Nepal, while seven deaths have been reported in China’s Tibet region. Nearly 3,000 people remain…

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DUBAI: Iran has condemned a fresh round of US economic sanctions as “state terrorism,” as Washington intensifies financial pressure on Tehran amid a prolonged conflict and a continuing standoff over the Strait of Hormuz. Iran’s Foreign Ministry said on Friday that countries were legally obligated to refrain from implementing US sanctions against Tehran, arguing that participation in the measures amounted to complicity in imposing what it described as an unlawful will on independent states. The ministry called the latest sanctions a “crime against humanity,” warning that the measures could put…

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ISLAMABAD: Prime Minister Shehbaz Sharif has constituted a high-powered committee to investigate the causes of unusually high Unaccounted-for-Gas (UFG) losses being incurred by Sui Southern Gas Company Limited (SSGCL) in Balochistan and recommend short- and long-term measures to ensure the company’s financial and operational sustainability in the province. The committee, headed by Deputy Prime Minister and Foreign Minister Ishaq Dar, will examine the factors behind SSGCL’s persistent UFG losses and recommend corrective measures to bring them within the benchmark prescribed by the Oil and Gas Regulatory Authority (OGRA). The committee…

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ISLAMABAD: Pakistan’s five major oil refineries have reaffirmed their commitment to signing agreements under the Brownfield Refinery Upgradation Policy early next month, a development expected to unlock around $6 billion in investment in the country’s refining sector. Federal Minister for Petroleum Ali Pervaiz Malik held separate meetings with the managements of Pak-Arab Refinery Company Limited (PARCO), Pakistan Refinery Limited (PRL), National Refinery Limited (NRL), Cnergyico and Attock Refinery Limited (ARL) to review progress on the policy, refinery performance and measures to strengthen Pakistan’s energy security. The managements of all five…

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