Author: Admin

Oil eases in choppy trading on U.S. tariffs, OPEC+ plans to raise output

Admin
Oil falls

HOUSTON: Oil prices eased slightly in choppy trade on Thursday with Brent still below $70 under pressure from trade tariffs between the U.S., Canada, Mexico and China, and OPEC+ plans to raise output. Those factors and a larger than expected build in U.S. crude inventories had sent Brent as low as $68.33 on Wednesday, its weakest since December 2021. Brent futures were down 29 cents, or 0.4%, at $69.03 a barrel by 11:10 a.m. ET (1610 GMT) on Thursday while U.S. West Texas Intermediate crude futures eased 37 cents, or…

Read More

KP Governor, WAPDA Chairman Discuss Ongoing and Upcoming Water Projects

Admin
Faisal-Kareem

Khyber Pakhtunkhwa Governor Faisal Karim Kundi met with WAPDA Chairman Lieutenant General (retd) Sajjad Ghani to discuss various ongoing and upcoming water projects in the province. The meeting also included Ahmad Karim Kundi, Parliamentary leader of Pakistan Peoples Party (PPP) in Khyber Pakhtunkhwa Assembly. The projects discussed during the meeting included: The WAPDA chairman assured the governor that all projects will be completed within the stipulated timeframe, and that efforts are being made to overcome water scarcity and produce affordable electricity, which will boost industrial and agricultural development.

Read More

Sindh empowers low-income households with solar energy, says CM Sindh

Admin
Sindh-Solar

200,000 solar units being provided to low-income families 270 solar power plants being installed to provide Rs9.80/unit KARACHI Sindh Chief Minister Syed Murad Ali Shah has said that the Sindh government has begun distributing Solar Home Systems (SHS) to 200,000 low-income households, and chairman Bilawal Bhutto has instructed him to procure another 300,000 solar units for further distribution. This initiative is designed to provide affordable and sustainable electricity, helping families that are still recovering from the devastating floods of 2022. “We are installing 270 MW solar power plants, which will…

Read More

Oil down on OPEC+ output increase, tariffs start and US pause on Ukraine aid

Admin
oil price

LONDON: Oil prices extended losses on Tuesday following reports that OPEC+ will proceed with a planned output increase in April and as U.S. tariffs on Canada, Mexico and China came into effect, as well as Beijing’s retaliatory tariffs. Brent futures were down $1.05, or 1.5%, at $70.57 a barrel by 1133 GMT while U.S. West Texas Intermediate (WTI) crude was off 83 cents, or 1.2%, at $67.54. “The current downward trend in oil prices is primarily driven by OPEC+’s decision to increase output and the introduction of U.S. tariffs,” said…

Read More

Saudi Aramco profits down 12.39 percent in 2024: statement

Admin
Saudi Aramco profits

RIYADH: Saudi Aramco’s net profits dropped 12.39 percent to $106.25 billion in 2024, the world’s biggest oil exporter said on Tuesday, following a year of lower prices and output cuts. Profits fell on lower revenues “primarily attributable to lower prices and volumes sold of crude oil, as well as lower refined and chemical product prices”, it said. Expected dividends for 2025 also fell heavily to $85.4 billion, down from $124.3 billion announced for last year by the mainly state-owned company. Aramco is the chief source of revenue for Crown Prince…

Read More