Category: Highlights

Oil prices rise on US attack on Houthis and China economic hopes

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Oil prices

Brent futures rise 76 cents, or 1.1%, to $71.34 a barrel\ LONDON: Oil traded higher on Monday after the United States vowed to keep attacking Yemen’s Houthis until the Iran-aligned group ends its assaults on shipping while Chinese economic data fuelled hopes for higher demand. US President Donald Trump launched military strikes against the Houthis on Saturday over the group’s attacks against Red Sea shipping. One US official told Reuters the campaign might continue for weeks. Brent futures rose 76 cents, or 1.1%, to $71.34 a barrel by 1315 GMT…

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Pakistan’s power generation falls 15% MoM, costs plunge 30% in February

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power

Power generation in Pakistan clocked in at 6,945 GWh in February 2025, a steep decline of 15% MoM compared to the previous month, suggesting a decline in economic activity. Back in January 2024, power generation stood at 8,153 GWh. On a yearly basis, power generation declined by 3% as compared to 7,130 GWh in the same month of the previous year. “This was the lowest monthly power generation in five years,” said JS Global. Electricity generation in February fell to its lowest level since March 2020, when it stood at…

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DISCOVERY OF HYDROCARBONS IN EXPLORATORY WELL SPINWAM-1 (KAWAGARH FORMATION) BY MARL ENERGIES LIMITED (FORMERLY MARI PETROLEUM COMPANY LIMITED) IN WAZIRISTAN BLOCK – KP PROVINCE

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Mari energies

By the grace of Almighty Allah, Mari Energies Limited (formerly Mari Petroleum Company Limited) is pleased to announce second gas condensate discovery in Spinwam-1 exploration well in Kawagarh formation, drilled in Waziristan Block, located in North Waziristan district, KP Province. This follows the earlier announcement dated 25th February 2025 of the first hydrocarbon’s discovery in the same well in SumanaSukh formation.  The post acid testing of the Kawagarh formation has shown a flow of 20.485 MMSCFD of gas and approximately 117bbl/day of condensate at a 32/64” choke (Well Head Flowing…

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Chinese Firm Denies Allegations of Irregularities in Coal Bidding Process

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Sahiwal-Power

ISLAMABAD: Chinese company Huaneng Shandong Ruyi (HSR), the owner of the 1,360MW Sahiwal coal-fired power plant, has strongly refuted allegations of irregularities in its coal procurement process, dismissing them as a targeted attempt to tarnish its reputation for vested business interests. In a letter to the Power Division, HSR addressed a complaint filed by Noor Khan and Haider Sultan on January 10, 2024, categorically denying any involvement of Sinpa Commercial (SMC-PRIVATE) Limited or YONGTAI Energy Pvt. Ltd. in its coal bidding process. The company asserted that these firms have never…

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Solar Net-Metering Set to Expand Under New Policy: Energy Minister

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Net-Metering

Federal Minister for Energy Sardar Awais Ahmad Leghari announced on Sunday that the number of solar net-metering consumers is expected to rise following new policy regulations. Speaking on Geo News program Naya Pakistan, Leghari stated that solar consumers would recover their investment within approximately four years. He dismissed concerns that the government was discouraging solar adoption, clarifying that no taxes had been imposed on solar panels. The Economic Coordination Committee (ECC) recently revised the buyback tariff for rooftop solar consumers from Rs27 to Rs10 per unit, a move aimed at…

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