Author: Admin

Oil Surges Over 2% as US Strikes on Iran Rekindle Supply Disruption Fears

Admin
OIl-Price

LONDON: Global oil prices climbed more than 2% on Wednesday after the United States launched airstrikes against Iran and reimposed sanctions on Iranian crude exports, heightening concerns that the fragile US-Iran truce could collapse and disrupt energy supplies from the Middle East. Brent crude futures rose $1.92, or 2.6%, to $76.08 per barrel, while US West Texas Intermediate (WTI) crude gained $1.82, or 2.6%, to $72.26 per barrel by 0400 GMT. The rally follows a nearly 3% jump in both benchmarks on Tuesday after Washington revoked the general licence that…

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OGRA Convenes Meeting with OMC CEOs to Address Key Regulatory Challenges

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OGRA

KARACHI: The Oil and Gas Regulatory Authority (OGRA) has called a meeting of chief executive officers (CEOs) of leading oil marketing companies (OMCs) to discuss long-pending regulatory issues, as Pakistan’s downstream petroleum sector continues to face operational and policy challenges. According to an official communication, the meeting is scheduled for Wednesday (July 8) and will bring together the heads of major OMCs, including Pakistan State Oil (PSO), Attock Petroleum Limited, Hascol Petroleum, Wafi Energy Pakistan, Parco Gunvor, Puma Energy, Gas & Oil Pakistan (GO), Vital Petroleum, and other industry players.…

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Senate Panel Seeks 16-Year Profit Details of Oil and Gas Companies

Admin
Refineries-Face

ISLAMABAD: A Senate sub-committee has directed the Ministry of Petroleum to submit, within two days, a comprehensive report detailing the profits earned by oil and gas companies over the past 16 years, amid growing concerns over the distribution of revenues generated from Pakistan’s natural resources. The directive was issued during a meeting of the Senate Functional Committee on Devolution’s sub-committee, chaired by Senator Zamir Hussain Ghumro, which reviewed the implementation of constitutional provisions relating to provincial ownership and participation in oil and gas resources. Petroleum Ministry officials informed the committee…

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FPCCI Highlights Immense Business Opportunities inInland Water Transport to Reduce Cost of Doing BusinessAtif Ikram Sheikh, President FPCCI

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New-Project222

Karachi: Atif Ikram Sheikh, President FPCCI, hosted a high-profile session on “Inland Water Management and Business Opportunities” was held at the FPCCI Head Office, Federation House, in Karachi. It is pertinent to note that the session featured a comprehensive presentation by renowned water expert, Commodore Naeem Sarfraz, outlining the strategic, economic and commercial viability of the sector. Atif Ikram Sheikh stressed that unlocking potential of the inland water transport is in the interest of the economy as the scope is immense; and, highly profitable business opportunities are available in various…

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Sindh, IFC Explore Partnership in Renewable Energy, Digital Infrastructure and Climate-Resilient Development

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New-Project221

KARACHI: The Government of Sindh and the International Finance Corporation (IFC) have agreed to explore strategic collaboration in renewable energy, digital infrastructure, climate-resilient development, agriculture, healthcare, and human capital development to accelerate sustainable economic growth across the province. The understanding was reached during a meeting between Sindh Chief Minister Syed Murad Ali Shah and IFC Division Director for Pakistan Simon Andrews at the Chief Minister House on Monday. Speaking on the occasion, the chief minister said the provincial government is actively seeking investment in high-growth sectors, including the establishment of…

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