Category: Latest News

ISLAMABAD: Qatar is expected to divert 24 liquefied natural gas (LNG) cargoes originally contracted for Pakistan to Egypt in 2026, underscoring a sharp decline in Pakistan’s gas demand and a broader reshaping of global LNG trade flows. According to The Peninsula, QatarEnergy on January 4, 2026, signed an agreement with the Egyptian Natural Gas Holding Company (EGAS) to supply up to 24 LNG cargoes during the summer of 2026. Petroleum sector officials in Pakistan confirmed that these volumes will effectively come from Pakistan’s long-term LNG commitments, diverted under the Net…

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WASHINGTON: US President Donald Trump has backed a bipartisan bill aimed at imposing sanctions on countries purchasing Russian oil, including China and India, according to a senior Republican senator, Al Jazeera reported. Senator Lindsey Graham of South Carolina said on Wednesday that President Trump had “greenlit” the proposed legislation following what he described as a “very productive” meeting. The bill, titled the Sanctioning Russia Act, has been drafted jointly by Graham and Democratic Senator Richard Blumenthal. Under the proposed law, President Trump would be granted authority to impose tariffs of…

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ISLAMABAD: Energy sector experts and industry leaders on Thursday called on policymakers to remove structural bottlenecks in the power and energy sectors, including over-regulation, slow decision-making and limited fiscal incentives, to stimulate local and foreign investment. The recommendations were made during the Pakistan Energy Conference (PEC), organised by the Petroleum Institute of Pakistan (PIP) under the theme “Transforming Pakistan’s Energy Sector.” The conference opened with a welcome address by PIP Chairman Syed Muhammad Taha, who is also Managing Director of Pakistan State Oil (PSO). A recorded video message from Federal…

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ISLAMABAD: The World Bank has stressed the urgent need for a credible marginal price determination mechanism in Pakistan’s power sector, supported by transparent data, robust systems and independent oversight, as the country faces mounting structural challenges stemming from rapid solarisation and persistent circular debt. The issue was discussed during a meeting between World Bank Country Director Bolormaa Amgaabazar and Federal Minister for Power Sardar Awais Leghari, where both sides reviewed ongoing World Bank–supported projects and broader reform efforts in the power sector. The meeting also provided an opportunity for the…

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