Category: Latest News

Saudi Aramco Offers Over 4 Million Barrels in Rare Tenders Amid Strait of Hormuz Disruptions

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Saudi-Aramco

SINGAPORE: Saudi Aramco has offered more than 4 million barrels of crude oil through rare tenders as the conflict involving Iran and the United States disrupts oil exports from the Middle East, according to several industry traders. The state-owned oil giant is reportedly seeking to reroute part of its crude exports through the Red Sea to avoid the Strait of Hormuz, a critical maritime chokepoint through which nearly one-fifth of global oil and liquefied natural gas supplies typically pass. Several Middle Eastern producers, including Iraq and Kuwait, have also begun…

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India Opts Out of IEA Plan to Release Strategic Oil Reserves Amid Market Volatility

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oil-reserves

NEW DELHI: India has no plans to join an initiative led by the International Energy Agency (IEA) to release strategic oil reserves, a government source said, despite rising global oil prices triggered by supply concerns linked to the conflict involving Iran. The decision comes as finance ministers from the Group of Seven (G7) are expected to meet to discuss a possible coordinated release of oil reserves aimed at stabilising global energy markets. Oil prices surged above $119 per barrel on Monday, the highest level since mid-2022, after several major producers…

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Surge in Jet Fuel Prices Raises Operating Costs for Pakistani Airlines

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Jet-Fuel

ISLAMABAD: A sharp increase in jet fuel prices has significantly raised operating costs for Pakistani airlines, prompting concerns that the current pricing structure could undermine the competitiveness of the country’s aviation sector and shift international traffic toward foreign carriers. The issue was discussed during a meeting of a cabinet committee formed by Prime Minister Shehbaz Sharif to monitor fuel prices in light of the evolving regional situation. The meeting, chaired by Finance Minister Muhammad Aurangzeb, reviewed developments in the energy sector and their impact on key industries. Officials informed the…

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NEPRA Notifies Rs0.35/kWh Quarterly Tariff Adjustment for March–May 2026

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New-Nepra

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has notified a positive quarterly tariff adjustment of Paisa 35 per kilowatt-hour (kWh) for the second quarter of FY2025-26, which will be recovered from electricity consumers between March and May 2026. According to the notification, issued under Section 31(7) of the Regulation of Generation, Transmission and Distribution of Electric Power Act 1997, the authority has approved an overall positive adjustment of Rs8.674 billion under the Quarterly Tariff Adjustment (QTA) mechanism. The increase has been attributed to variations in capacity charges, variable operation…

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Sindh Govt Appoints Chairman and Members of SEPRA

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energy-Department

KARACHI: The Government of Sindh has appointed a new chairman and members of the Sindh Electric Power Regulatory Authority (SEPRA), according to an official notification issued by the Services, General Administration and Coordination Department. As per the notification dated March 6, 2026, the appointments have been made under Section 2 of the Sindh Regulation of Electric Power Services Act 2023, following recommendations of the selection committee. Under the notification, Rafique Ahmed Shaikh has been appointed as Chairman of SEPRA. The newly appointed members include Nand Lal P. Sharma as Member…

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