Category: Latest News

SINGAPORE: Global oil prices fell more than 5 percent on Monday after the United States and Iran paused military strikes over the weekend, raising hopes for a diplomatic breakthrough that could ease regional tensions and restore shipping through the strategic Strait of Hormuz. Brent crude futures dropped $4.89, or 5.05 percent, to $91.89 per barrel by 0009 GMT, briefly falling below the key $90 support level during early trading. Meanwhile, US West Texas Intermediate (WTI) crude declined $4.67, or 5.23 percent, to $84.64 per barrel. Both benchmark contracts touched their…

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ISLAMABAD: Pakistan’s flagship hydropower projects have witnessed significant cost escalations, with the Ministry of Water Resources attributing the increases to persistent inflation, steep currency depreciation, project delays, and a range of technical, administrative, and security-related challenges. According to the ministry, the Diamer Basha Dam, Mohmand Dam, Dasu Hydropower Project (Stage-I), and Tarbela 5th Extension have all experienced substantial revisions in their project costs due to rising construction material prices, exchange rate volatility, Interest During Construction (IDC), enhanced security measures, land acquisition issues, social safeguards, design modifications, and extended implementation schedules.…

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ISLAMABAD: Pakistan State Oil (PSO) is facing an intensifying liquidity crisis as mounting receivables from the gas and power sectors continue to strain its cash flow, raising concerns over the stability of the country’s fuel supply chain. According to independent industry data, Sui Northern Gas Pipelines Limited (SNGPL) remains the largest defaulter, with outstanding liabilities reaching Rs536 billion as of July 23, 2026. The amount includes Rs274 billion in principal dues and Rs253 billion in late payment surcharge (LPS). Industry sources said recoveries from SNGPL continue to fall short of…

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Innovation Driving the Energy Future Growatt successfully hosted its Pakistan Full-Scenario Energy Storage Launch Event at Nishat Hotel Johar Town, Lahore, bringing together government representatives, industry leaders, distributors, EPC companies, installers, and renewable energy professionals to witness the official launch of the SPM 3000–10000TL-HU2 Hybrid Inverter Series. Held under the theme “Innovation Driving the Energy Future,” the event reinforced Growatt’s long-term commitment to accelerating Pakistan’s clean energy transition through intelligent and reliable energy storage solutions. A New Era of Residential Energy Storage The newly launched SPM 3000–10000TL-HU2 series has been…

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ISLAMABAD: In a landmark breakthrough for Pakistan’s energy and mining sectors, Oil and Gas Development Company Limited (OGDCL) has confirmed the presence of high-grade lithium in geothermal formation water from Sindh, marking the country’s first significant discovery of lithium-bearing geothermal brines and positioning Pakistan among emerging players in the global critical minerals market. The discovery was made through advanced geochemical analysis of produced formation water extracted from a successfully tested high-temperature geothermal well under OGDCL’s pilot geothermal programme in Sindh. According to senior company officials, the recorded lithium concentrations are…

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