Category: Highlights

Oil set for weekly fall amid supply pressure, tariff uncertainty

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Oil prices

LONDON: Oil prices fell on Friday and were set for a weekly decline of over 3% on the back of oversupply concerns and uncertainty around tariff talks between the United States and China. Brent crude futures were down 82 cents to $65.73 a barrel at 1215 GMT, falling 3.3% over the week. U.S. West Texas Intermediate crude was down 81 cents to $61.98 a barrel, a decline of 4.2% for the week. “… Prices are down as concerns over oversupply from OPEC+ persist, while the demand outlook remains uncertain amid…

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Iran, Russia agree on 55 bcm of gas supplies, nuclear plant funding

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Nuclear-Power

MOSCOW: Moscow and Tehran have reached a deal on 55 billion cubic metres of Russian gas supplies a year, though prices are yet to be agreed, while Russia also pledged to fund construction of a new nuclear power plant in Iran, officials said on Friday. The preliminary agreements came as the United States is looking to isolate Iran from the rest of the world unless Tehran agrees to a new deal for inspections of its nuclear facilities. Russia has deepened ties with Iran since the start of the military conflict…

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Global LNG: Asian spot prices hold at 1-year low as demand remains tepid

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LNG

SINGAPORE: Prices of Asian spot liquefied natural gas (LNG) inched up this week amid production outages in Asia and Europe, but were still hovering at nearly one-year lows on overall tepid demand. The average LNG price for June delivery into north-east Asia was at $11.80 per million British thermal units (mmBtu), estimated industry sources, up from $11.50/mmBtu last week which were its lowest levels since mid-May. There are limited buyers for prompt cargoes, with Chinese and Indian importers taking a back seat as prices are above $11.00/mmBtu, said Argus head…

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Pakistan Warns India: Water War Will Be Met with Full Force

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New-Project1

ISLAMABAD: Pakistan’s civil and military leadership has issued a stern warning to India, declaring that any attempt to stop or divert Pakistan’s share of water under the 1960 Indus Waters Treaty will be treated as an act of war—a red line Islamabad says it is prepared to defend with the full might of its national power. This declaration came after India announced a suspension of the landmark water-sharing accord in response to the recent Pahalgam attack, which it blames on Pakistan. In an emergency session of the National Security Committee…

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Stakeholders push for swift implementation of competitive power market

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power market

KARACHI: Leading stakeholders from Pakistan’s energy and policy landscape convened at a high-level multi-stakeholder dialogue hosted by Renewables First, Pakistan’s think tank for energy and environment, on Wednesday in Islamabad to assess the financial and technical readiness for operationalising a competitive electricity market. The event brought together senior government officials, legislators, regulators, development partners and power sector experts to chart a course for implementing the long-delayed competitive trading bilateral contracts market (CTBCM) reform. The CTBCM, already approved by the Economic Coordination Committee and the National Electric Power Regulatory Authority (Nepra),…

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