Author: Admin

US Strikes on Iran Spark Fears of Oil Price Surge and Global Market Volatility

Admin
oil-Price

NEW YORK: A United States strike on Iranian nuclear facilities is raising alarm bells in global financial markets, with experts warning of a surge in oil prices and increased volatility amid deepening geopolitical tensions. While Gulf stock markets appeared to take the news in stride during Sunday trading—with indexes in Saudi Arabia, Qatar, and Kuwait remaining flat or slightly up—investors are bracing for a more dramatic reaction when major global markets reopen. “This will blanket markets in uncertainty,” said Mark Spindel, Chief Investment Officer at Potomac River Capital. “Oil will…

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Iran plans to shut Strait of Hormuz: How it may shake global oil and why India is at risk too

Admin
shut strait of hormuz

Iran plans to shut Strait of Hormuz: How it may shake global oil and why India is at risk too In a sharp escalation following US airstrikes on its nuclear facilities, Iran’s parliament on Sunday approved a proposal to close the Strait of Hormuz, one of the world’s most critical oil shipping routes. The move, reported by state-run Press TV on Sunday, signals Tehran’s willingness to hit back economically. Brigadier General Alireza Tangsiri, commander of the IRGC Navy, reportedly issued a stark warning: “The Strait of Hormuz will be closed…

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‘New electricity provider in Karachi’: NA panel underscores need for exploring possibility

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electricty

ISLAMABAD: The National Assembly Standing Committee on Government Assurances has recommended that the government explores the possibility of inducting a new electricity provider in Karachi to promote healthy competition and improve service delivery. This recommendation was made during a discussion on a calling attention notice moved by MNA Sardar Nabil Ahmed Gabol regarding unscheduled load-shedding and over-billing in Karachi, particularly in Lyari and Azam Basti by K-Electric (KE). The Committee, chaired by Nuzhat Sadiq, directed KE to cease unscheduled load-shedding, especially outages exceeding 10 hours a day and those occurring…

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The Oil and Gas Regulatory Authority (OGRA) has confirmed that the country currently holds sufficient stocks of petroleum products to meet existing demand.

Admin
oil

However, in view of anticipated future requirements and the prevailing market situation, OGRA has formally advised all Oil Marketing Companies (OMCs) to ensure the maintenance of their mandatory 20-day stock levels, in line with the conditions stipulated in their respective licences. OGRA remains committed to monitoring the situation closely and will continue to take proactive steps to ensure national energy security.Imran GhaznaviSpokesmanOil and Gas Regulatory Authority

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Energy Update and PSA holds Webinar

Admin
EU-PSA

Taxing solar panels & change in Net-metering policy hurts solar growth and environment experts warn Karachi: The imposition of General Sales Tax (GST) on import of solar panels, regardless of the final tax rate decided by the federal government, will not slow down Pakistan’s accelerating transition to renewable energy. This progress is driven by the unwavering commitment of end-consumers and businesses dedicated to improving environmental conditions and reducing the carbon footprint of Pakistan’s power sector. This was the collective view expressed by clean energy experts, industrialists, climate activists, and renewable…

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