Russia’s daily oil exports from its western ports are set to rise by some 100,000 barrels per day to 1.97 million bpd in April from March as the impact of seasonal domestic refinery maintenance outweighs output cuts under an OPEC+ agreement, Reuters calculations based on data from three sources showed. According to the data, exports and transit of Urals, Kazakh KEBCO and Siberian Light oil from Primorsk, Novorossiisk and Ust-Luga will increase by some 5% in April compared to March. The sources said the growth in shipments next month will…
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Selling pressure at PSX: KSE-100 sheds over 2,000 points
Market faces downward pressure amid IMF concerns The Pakistan Stock Exchange (PSX) faced selling pressure on Monday as the benchmark KSE-100 Index lost over 2,000 points, with analysts attributing the downturn to concerns related to the International Monetary Fund (IMF) loan. The market remained under pressure throughout the trading session, dragging the KSE-100 to an intra-day low of 116,257.51. At close, the benchmark index settled at 116,439.62 level, a decrease of 2,002.55 points or 1.69%. “The market faced downward pressure due to IMF concerns over the lack of adjustments to…
Read MoreOil firms as market weighs Iran sanctions and talks over Russia-Ukraine ceasefire
Oil prices strengthened in choppy trade on Monday as investors weighed the impact of fresh U.S. sanctions on Iranian exports against talks to end the war in Ukraine, which could increase supply of Russian crude to global markets. Brent crude futures rose 32 cents, or 0.44%, to $72.48 a barrel by 1252 GMT. U.S. West Texas Intermediate crude was up 34 cents, or 0.5%, at $68.62. “Crude remains rangebound as traders continued to weigh the impact of new U.S. tariffs, the risk of an economic slowdown, as well as increased…
Read MorePakistan’s sugar maker to install 200KW solar power plant
Tariq Corporation Limited (TCORP), engaged in the manufacturing of sugar and its by-products, has become the latest company to adopt renewable energy, as it announced plans to set up a 200KW solar power system at its facility. The listed company shared the development in its notice to the Pakistan Stock Exchange (PSX) on Monday. “We are pleased to inform you that Tariq Corporation Limited (TCORP) has decided to install a 200 KW solar power system, reinforcing its commitment to improve sustainability and operational efficiency. “It is expected to significantly reduce…
Read MoreSindh CM concludes Pre-Budget discussion Sindh AssemblyNo work is in progress on Chulistan
KARACHI (March 21): Sindh Chief Minister Syed Murad Ali Shah, while concluding the pre-budget discussion in the assembly, emphasized his government’s commitment to maintaining law and order, and highlighted the importance of transparent financial planning and noted that there was currently no construction taking place on the Chulistan Canal. He highlighted that there has been no construction activity from Head Suleimanki to Marot, which is located 200 km from the barrage. At the Marot site, a 5,000 ft length of canal was found to be abandoned, and no further activity…
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