Category: Highlights

Oil gains over 2% after OPEC+ delays output hike, US election in focus

Admin
Oil-gains

Oil prices rose more than 2% on Monday on a decision by OPEC+ to delay by a month plans to increase output, while the market braced for a crucial week that includes the U.S. presidential election. U.S. Democratic candidate Kamala Harris and Republican Donald Trump remain virtually tied in opinion polls ahead of Tuesday’s Election Day, and the winner might not be known for days after voting ends. Brent futures were up $1.73 per barrel, or 2.4%, to $74.83 a barrel at 1324 GMT. U.S. West Texas Intermediate (WTI) crude was…

Read More

FPCCI Proposes Amendments in Petroleum Act 1934Atif Ikram Sheikh, President FPCCI

Admin
FPCCI-Project

Karachi: Atif Ikram Sheikh, President FPCCI, has appreciated Senator Musadik Malik, Federal Petroleum Minister and the Director General of Explosives at Ministry of Petroleum for responding to the concerns of trade and industry vis-à-vis the definition, handling, storage and licensing requirements of liquid hydrocarbon, mixed hydrocarbons and any other material or mixture containing hydrocarbons. Atif Ikram Sheikh apprised that FPCCI had officially written to the DG Explosives after receiving multiple complaints and queries from the sector to seek clarification. While we acknowledge their reply; nevertheless, we, at FPCCI, feel that…

Read More

Dr. Sultan Al Jaber Gathers Global Leaders to Forge AI-Energy-Climate Partnerships at ENACT Majlis

Admin
Sultan-Al-Jaber

Abu Dhabi, UAE – His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and ADNOC Managing Director, hosted 80 global leaders in energy, technology, climate, and finance at the ENACT Majlis, a gathering aimed at advancing sustainable energy partnerships to support AI’s rapid growth. Rooted in the Emirati tradition of open dialogue, the Majlis provided a collaborative platform for discussing strategies at the intersection of AI, energy, and climate. H.E. Dr. Al Jaber emphasized the need for cross-sector collaboration to meet AI’s increasing power demands, with AI data…

Read More

Senate Panel Raises Alarm Over Alleged Unlicensed Gas Sale in Badin-IV South Block

Admin
Gas-Sale

ISLAMABAD: The Senate Standing Committee on Petroleum voiced serious concerns on Friday regarding the alleged sale of gas from the Badin-IV South Block in Sindh through an unlicensed third-party company. Chaired by Senator Umer Farooq, the committee convened at Parliament House and requested a comprehensive report on the matter in the next session. The Petroleum Division’s representatives shared that an inquiry had recommended suspending activities in the Badin-IV South Block due to suspected regulatory violations. Chairman Farooq emphasized the need for a detailed discussion and transparency in upcoming meetings. The…

Read More

Punjab Embraces Green Growth with Local Solar Panel Manufacturing Deal

Admin
Solar-Panel

LAHORE: Punjab’s push for green industrial expansion took a significant step as Provincial Minister for Industries, Commerce, and Investment Chaudhry Shafay Hussain announced a finalized agreement with a Chinese company to establish solar panel manufacturing in the province. Addressing the Lahore Chamber of Commerce and Industry (LCCI), Hussain emphasized Punjab’s focus on alternative energy to reduce production costs and support sustainable growth. Key figures from LCCI, including President Mian Abuzar Shad, highlighted Punjab’s contribution to Pakistan’s GDP, underscoring the importance of affordable energy solutions for the province’s industries. Minister Hussain…

Read More