Author: Admin

Oil Prices Drop 2% Amid Oversupply Concerns Despite Geopolitical Risks

Admin
New-Oil-1

NEW YORK: Oil prices fell sharply on Thursday, sliding about 2% as worries over a potential glut and weakening US demand outweighed supply risks stemming from conflicts in the Middle East and Ukraine. Brent crude futures declined $1.12, or 1.7%, to close at $66.37 a barrel, while US West Texas Intermediate (WTI) fell $1.30, or 2%, to $62.37. The International Energy Agency (IEA) warned in its monthly report that global supply will grow faster than expected this year due to planned OPEC+ output hikes. Analysts said the market remains torn…

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Nepra Reviews Wapda’s Plea for 80pc Hike in Hydropower Tariff

Admin
New-NEPRA

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Thursday scrutinised a petition from the Water and Power Development Authority (Wapda) seeking an over 80 per cent increase in its bulk generation tariff. At the hearing, chaired by Nepra’s KP member Maqsood Anwar Khan, Wapda officials said their base revenue requirement for FY26 stood at Rs179 billion, compared to Rs96.93bn approved in FY23, raising the base tariff from Rs3.10 to Rs5.67 per unit — up 83pc. However, pending claims from previous years lifted the FY26 revenue requirement to Rs318.5bn, while…

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Ogra Notifies Up to 2.63pc Hike in RLNG Prices for September

Admin
New-LNG

ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has notified an increase of up to 2.63 per cent in the prices of Regasified Liquefied Natural Gas (RLNG) for September, applicable at the transmission stage for both Sui gas companies. For Sui Northern Gas Pipelines Ltd (SNGPL), which supplies Punjab and Khyber Pakhtunkhwa, the RLNG price at the transmission stage rose by 2.36pc to $11.24 per million British thermal units (mmBtu), up from $10.98 in August. At the distribution stage, the price climbed 2.38pc to $12.01 per mmBtu against $11.73 last…

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Gas & Oil Pakistan and Samba Bank Sign MOU to Expand ATM Access at Fuel Stations

Admin
Gas-Oil

Lahore, September 10, 2025 — Gas & Oil Pakistan Limited (GO) and Samba Bank Limited have formalized a partnership to provide convenient ATM services across Gas & Oil Pakistan’s nationwide network of fuel stations, reinforcing their shared commitment to financial inclusion and customer convenience.The signing ceremony was held in Samba Bank’s Gulberg Branch Lahore and attended by the senior leadership of both organizations. The Gas & Oil Pakistan delegation was led by Chief Executive Officer Mr. Khalid Riaz, while the Samba Bank team was led by President Samba Bank Mr.…

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Federal Minister Ali Pervaiz Malik Welcomes Chevron’s $30 Million Investment in Pakistan’s Oil Sector

Admin
New-Project22

ISLAMABAD, September 11, 2025 Federal Minister for Petroleum Ali Pervaiz Malik, held a meeting today with Mr. Ahmed Zahid, CEO and Country Chairman of Chevron Pakistan, at the Ministry of Petroleum. The meeting focused on Chevron’s ongoing operations and future investment plans in Pakistan. Mr. Zahid apprised the Minister that Chevron, a leading US-based multinational oil company, has recently invested $30 million to establish a state-of-the-art, fully automated lubricants blending plant in Pakistan. This strategic investment underscores the company’s long-term commitment to the country. Highlighting Chevron’s substantial market presence, the…

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