Author: Admin

Oil settles down 2% on receding hurricane risk, lackluster China stimulus

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crude oil

NEW YORK, Nov 8 (Reuters) – Oil prices settled more than 2% lower on Friday as traders grew less fearful of prolonged supply disruptions from a hurricane in the U.S. Gulf of Mexico, while China’s latest economic-stimulus packages failed to impress some oil traders. U.S. West Texas Intermediate futures led the decline and settled at 70.35 per barrel, down by 2.7%, or $1.98. Global benchmark Brent crude futures fell by 2.3%, or $1.76, to$73.87 per barrel.

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Attock Refinery delays upgrade project due to tax dispute

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Attock Refinery delays

Sales tax issue on crude and refined products blocks progress on high-investment refinery expansion KARACHI: Attock Refinery Limited (ATRL) has delayed the execution of its multi-million-dollar refinery upgrade project, aimed at increasing the production of premium products like petrol and diesel, due to unresolved tax-related issues. The project, which is designed to reduce the production of outdated furnace oil and ensure compliance with Euro-V fuel standards, now hinges on resolving sales tax adjustments related to crude oil purchases and refined product sales. During a corporate briefing on Friday, Senior Analyst…

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Press Handout: National Transmission & Despatch Company (NTDC) Restructuring

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(NTDC) Restructuring

Press Handout: National Transmission & Despatch Company (NTDC) RestructuringThe Government of Pakistan has initiated a comprehensive restructuring of the NationalTransmission & Despatch Company (NTDC) to modernize Pakistan’s power sector,enhance efficiency, and improve access to reliable electricity. This initiative marks atransformative step towards a more transparent, competitive, and sustainable energymarket.Key Highlights of the Restructuring Plan:

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National grid under pressure after consumers switching to solar energy: experts

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solar-panels

ISLAMABAD, NOV 8 (DNA): Consumers switching to self-generated power, especially solar energy, has put Pakistan’s national energy infrastructure under growing pressure, endangering the grid’s long-term sustainability and stability, experts said. Event tickets At the Sustainable Development Policy Institute’s (SDPI) annual plenary on Thursday, experts encouraged policymakers to create a comprehensive plan that strikes a balance between the expansion of renewable energy sources and grid reliability. CEO of Attock Refinery and Attock Gen Limited Adil Khattak said Pakistan’s move to renewable energy is hampered by systemic inefficiencies, even though the country…

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Pakistan again requests China to finalize $1bn loan for Karachi-Hyderabad rail project

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Karachi-Hyderabad rail project

Pakistan has renewed its request for China to hold a critical financing committee meeting to negotiate a nearly $1 billion loan for the Karachi-Hyderabad segment of the long-delayed Mainline-I (ML-I) railway project, a key component of the China-Pakistan Economic Corridor (CPEC). The Express Tribune reported that the Pakistani embassy in Beijing issued the request last week, marking the second appeal in the past year for a fifth joint financing committee session on the ML-I.  Officials from Pakistan’s Ministry of Railways briefed the National Assembly Standing Committee on Planning about the situation,…

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