Author: Admin

Reko Diq Project Aims for Financial Close by June 2025: ADB Considers Guarantee Options

Admin
Reko-Diq

ISLAMABAD: The financial close for the Reko Diq Mining Project is projected for June 2025, with the Asian Development Bank (ADB) exploring a third-party guarantee arrangement, according to sources. During a progress review meeting chaired by the Project Support Team (PST) at the Prime Minister’s Office, key milestones were discussed, including the completion of the feasibility study by December 2024 and achieving financial close six months later. The Reko Diq mine, jointly owned by Barrick Gold (50%), federal state-owned enterprises (25%), and the Balochistan Government (25%), has seen collaboration among…

Read More

Kohat Demands Oil and Gas Royalties as PTI MPAs Stage Assembly Walkout

Admin
oil-and-gas

PESHAWAR: In a rare display of dissent, members of the treasury benches in the Khyber-Pakhtunkhwa (K-P) Assembly staged a symbolic walkout during Monday’s session, protesting the non-payment of oil and gas royalties owed to the Kohat region. Raising the issue on a point of order, Kohat MPA Dawood Shah highlighted the division’s annual oil and gas production capacity of Rs400 billion. Despite this significant contribution, Shah lamented the absence of an oil refinery or marketing company in the region, along with the persistent lack of clean water. “In my constituency,…

Read More

Chinese business delegation explores investment opportunities in Sindh

Admin
China-Pak

KARACHI (Dec 9): A 15-member Chinese business delegation met with Sindh Chief Minister Syed Murad Ali Shah to explore investment opportunities in the province’s various sectors. The meeting highlighted the potential for collaboration in agriculture, renewable energy, livestock, and industrial production. The meeting was held at the CM House and was attended by provincial ministers Sharjeel Memon and Nasir Shah, as well as other officials, including Syed Qasim Naveed, Secretary to the Chief Minister Rahim Shaikh, and Khurram Shahzad, Secretary of Investment. The Chinese delegation included representatives from nine medical…

Read More

Oil Prices Rise Amid Middle East Uncertainty Following Assad’s Ouster

Admin
Oil prices

TOKYO/SINGAPORE: Oil prices edged higher on Monday as the fall of Syrian President Bashar al-Assad’s regime added new geopolitical uncertainty to the Middle East. However, gains were tempered by concerns over weakening global demand and a soft economic outlook for 2025. Brent crude futures rose by 36 cents, or 0.51%, to $71.48 per barrel, while U.S. West Texas Intermediate (WTI) crude futures increased by 38 cents, or 0.57%, to $67.58 per barrel by 0513 GMT. The ousting of Assad, announced by Syrian rebels on state television, ended a 50-year family…

Read More