Author: Admin

Oil drops $2 after US crude stock build, OPEC+ output increase, Trump tariffs

Admin
Oil falls

HOUSTON: Oil prices declined for a third day on Wednesday after US crude oil stocks posted a larger-than-expected build, adding a further headwind as investors worried about OPEC+ plans to proceed with output increases in April, and US President Donald Trump’s tariffs on Canada, China and Mexico escalated trade tensions. Brent futures fell $2.19, or 3.1%, to $68.85 a barrel by 10:49 a.m. EST (1549 GMT). US West Texas Intermediate (WTI) crude declined $2.55, or 3.7%, to $65.71 a barrel. US crude stocks rose more than expected, while gasoline and…

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OPEC February oil output rises as Iran exports keep flowing

Admin
OPEC-Project

LONDON: OPEC oil output rose in February, a Reuters survey found, as Iranian exports held strong, despite renewed U.S. attempts to curb the flows, and Nigeria boosted output above its target within the wider OPEC+ group. The Organization of the Petroleum Exporting Countries pumped 26.74 million barrels per day last month, up 170,000 bpd from January’s revised total, the survey showed on Wednesday, with Iran and Nigeria posting the largest gains. OPEC+, which includes OPEC plus Russia and other allies, is keeping production cuts in place through March due to expectations of…

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Inflation Down to Lowest Point in 9 Years Trade & Industry Demands Single-Stroke Cut By 500 bps in Interest RateAtif Ikram Sheikh, President FPCCI

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Atif-Ikram

Karachi: Mr. Atif Ikram Sheikh, President FPCCI, has apprised that the business, industry and trade community of Pakistan is dissatisfied with the monetary policy as it continues to be based on a heavy premium vis-à-vis core inflation as the State Bank of Pakistan (SBP) announced a grossly-insufficient reduction of merely 100 bps on January 27th in its last Monetary Policy Committee (MPC) meeting. He emphasized the fact that the inflation is at a 9-year low in the country. Mr. Atif Ikram Sheikh maintained that inflation, as per government’s own statistics,…

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‘Take or Pay’ Clause: Refineries Request OGRA’s Intervention*

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OGRA

OGRA Urged to Convene Meeting on ‘Take or Pay’ ClauseIslamabad: Pakistan’s five refineries have requested the Oil and Gas Regulatory Authority (OGRA) to convene a joint meeting with oil marketing companies (OMCs) to discuss and agree on the ‘take or pay’ clause in sales purchase agreements (SPAs). In a letter signed by the Managing Directors of Pak-Arab Refinery Company Limited (PARCO), Pakistan Refinery Limited (PRL), National Refinery Limited (NRL), Cnergyico PK Limited (CPL), and Attock Refinery Limited (ARL), the refineries emphasized the need for a mutually agreed-upon implementation mechanism to…

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From Roadshow to Expo: Growatt Champions Sustainable Energy Innovation in Pakistan

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Growatt-Project1

Growatt, a global leader in distributed energy solutions, recently strengthened its commitment to Pakistan’s sustainable energy transition through two pivotal events in Lahore: a strategic roadshow on February 20 and an impactful exhibition at Solar Pakistan 2025 (February 21–23). These engagements highlighted the company’s innovative technologies, local partnerships, and dedication to addressing Pakistan’s evolving energy needs. Roadshow: Building Momentum for Renewable SolutionsThe roadshow on February 20 convened over 120 industry leaders, partners, and installers to outline Growatt’s vision for Pakistan’s energy future. Senior Regional Director Mr. Jimmy opened the event…

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