Author: Admin

PSO, Oman Explore Additional Oil Supplies to Strengthen Energy Security

Admin
PSO-Head

ISLAMABAD: Pakistan State Oil (PSO) and Oman Trading International are engaged in constructive discussions to secure additional oil cargoes as Pakistan seeks to ensure stable energy supplies amid evolving regional dynamics. In March, Pakistan imported three petrol cargoes and one diesel shipment from Oman, with two more petrol cargoes expected to arrive later this month, reflecting growing energy cooperation between the two countries. The development was discussed during a meeting between Federal Minister for Petroleum Ali Pervaiz Malik and Oman’s Ambassador to Pakistan, Fahad Bin Sulaiman Bin Khalaf Alkharusi. Both…

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Govt Considers Preservation Mode for RLNG Power Plants Amid Gas Shortfall

Admin
lng

ISLAMABAD: The government is considering placing RLNG-fired power plants with a combined capacity exceeding 3,600MW on preservation mode due to challenges in securing imported gas at affordable rates, particularly after supply disruptions linked to Qatar’s force majeure declaration. According to official sources, the power sector currently requires around 350 MMCFD of RLNG, but only about 80 MMCFD is being supplied by Sui Northern Gas Pipelines Limited (SNGPL). At present, this limited supply is being directed to a single power plant, with concerns that availability may decline further as no new…

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Middle East Conflict Threatens Pakistan’s Trade, Worsens Economic Outlook

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New-Project125

ISLAMABAD: The ongoing Middle East conflict is expected to significantly disrupt Pakistan’s trade flows with Gulf Cooperation Council (GCC) countries and other regions, potentially reducing exports by $1.5 billion to $2 billion, while imports—mainly energy—could decline by up to $3 billion. According to a recent Policy Viewpoint by the Pakistan Institute of Development Economics (PIDE), authored by Dr. Syed Hasanat Shah and Wajid Islam, the escalating confrontation involving the US, Israel, and Iran has evolved into a global economic crisis with far-reaching implications. The report highlights that instability in the…

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Pakistan Has Adequate Fuel Stocks Despite Global Crisis: Monitoring Committee

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New-Oil5

ISLAMABAD: Pakistan has sufficient petroleum product stocks to meet domestic demand for April and the coming months, the Committee to Monitor Petrol Prices was informed on Thursday, offering reassurance amid fears of global supply disruptions. The update comes after the government raised petrol and diesel prices by Rs55 per litre earlier this month—an increase of around 20%—due to supply chain disruptions triggered by the ongoing Middle East conflict involving the US, Israel, and Iran. The crisis has pushed global crude oil prices to a two-year high. To address the evolving…

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Barrick Delays Pakistan Copper-Gold Project Amid Security Concerns

Admin
Reko-Barrick

TORONTO: Barrick Mining has decided to delay development of its major copper and gold project in Pakistan, citing escalating security concerns linked to the ongoing Middle East conflict, according to a report by the Financial Times on Thursday. In correspondence with its Pakistani equity partners and the project’s local operator, the company stated that it would reassess the project’s potential impacts and overall delivery strategy. The decision follows a preliminary review and a worsening security environment in both Pakistan and the broader Middle East region. “Following the preliminary findings of…

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