Oil edges down as investors assess Russia supply risks

Oil price

LONDON: Oil prices eased on Wednesday, after rising more than 1% in the previous session, as investors assessed Russian supply risks following Ukrainian drone attacks on energy infrastructure. Brent crude futures were down 27 cents, or 0.4%, to $68.20 a barrel by 1249 GMT, while U.S. West Texas Intermediate crude futures were down 31 cents, or around 0.5%, to $64.21 a barrel. The benchmarks settled more than 1% higher in the last trading session due to concerns that Russian supplies may be disrupted by Ukrainian attacks. Russia’s oil pipeline monopoly Transneft had…

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14th IEEEP Fair 2025 Kicks Off at Karachi Expo Centre

New-Project28

KARACHI: The 14th International Electrical & Electronics Engineering Fair (IEEEP Fair 2025) opened its doors on Tuesday at the Expo Centre Karachi. Scheduled from September 16 to 18, 2025, the event is organised by the IEEEP Karachi Centre in collaboration with Badar Expo Solutions. This year’s edition features over 200 local and international exhibitors, showcasing innovations and solutions from the electrical, electronics, and renewable energy sectors. The fair serves as a vital platform for industry professionals, investors, and technology providers to explore emerging trends, forge partnerships, and drive growth in…

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Reko Diq Secures $5.5bn IFI Commitments, Paving Way for Construction in 2025

Reko-Diq

ISLAMABAD: Pakistan’s flagship Reko Diq copper-gold project has secured over $5.5 billion in financing commitments from leading international financial institutions (IFIs), well above its actual requirement of $3.74 billion. The $7.48 billion venture, located in Balochistan’s Chagai district, is being developed under a 50:50 debt-to-equity model, with construction set to begin in December 2025 and commercial operations targeted for 2028. The US Export-Import Bank has pledged about $1 billion, while the Japan Bank for International Cooperation (JBIC) will provide $300 million. Denmark’s export credit agency has also offered guarantees to…

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KAPCO Begins Commercial Operations of 495MW Power Plant

KAPCO-Denies

KARACHI: Kot Addu Power Company Limited (KAPCO) has commenced commercial operations of its 495-megawatt power plant, following the successful completion of the Initial Tested Capacity (ICT) and Initial Heat Rate Test (HRT) on September 12, 2025. The Independent Engineer has formally issued the test certificate, confirming compliance. The development activates the Tripartite Power Purchase Agreement (TPPA) signed on June 4, 2025, after approval by the National Electric Power Regulatory Authority (NEPRA). With the tests concluded, the TPPA became effective from September 13, 2025, marking the plant’s Commercial Operation Date (COD).…

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Power Division Secures Legal Backing for IGCEP 2025-35 Draft

Power genration

ISLAMABAD: The Power Division has obtained a legal opinion in support of the draft Indicative Generation Capacity Expansion Plan (IGCEP) 2025-35, amid expectations that NEPRA may raise objections over the omission of certain projects previously classified as “committed” in the current IGCEP 2023-27, sources told Business Recorder. NEPRA has already uploaded the draft IGCEP 2025-35 on its website to seek stakeholder feedback ahead of a public hearing. According to Clause 5(c) of the National Electricity Plan (NE Plan), projects declared committed in IGCEP 2021 (as approved by the Council of…

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