Category: Latest News

KARACHI: Sindh Chief Minister Syed Murad Ali Shah on Wednesday approved a comprehensive roadmap to promote energy efficiency and conservation across the province, directing authorities to accelerate reforms aimed at reducing electricity consumption, improving energy management, and supporting sustainable development. Chairing the fifth meeting of the Board of the Sindh Energy Efficiency and Conservation Agency at the Chief Minister’s House, the chief minister emphasized that energy conservation remains one of the most cost-effective and sustainable solutions to meet rising energy demand and address climate change. The meeting was attended by…

Read More

ANKARA: US President Donald Trump on Wednesday declared that the interim agreement reached with Iran to halt hostilities is effectively “over,” signalling a tougher stance toward Tehran and expressing little interest in reviving negotiations. Speaking in Ankara ahead of the NATO summit, Trump dismissed the memorandum of understanding that had been signed to de-escalate tensions between the two countries. “To me, I think it’s over,” Trump said when asked about the status of the truce. “I don’t want to deal with them anymore. They’re scum… they’re led by sick people.”…

Read More

LONDON: Global oil prices climbed more than 2% on Wednesday after the United States launched airstrikes against Iran and reimposed sanctions on Iranian crude exports, heightening concerns that the fragile US-Iran truce could collapse and disrupt energy supplies from the Middle East. Brent crude futures rose $1.92, or 2.6%, to $76.08 per barrel, while US West Texas Intermediate (WTI) crude gained $1.82, or 2.6%, to $72.26 per barrel by 0400 GMT. The rally follows a nearly 3% jump in both benchmarks on Tuesday after Washington revoked the general licence that…

Read More

KARACHI: The Oil and Gas Regulatory Authority (OGRA) has called a meeting of chief executive officers (CEOs) of leading oil marketing companies (OMCs) to discuss long-pending regulatory issues, as Pakistan’s downstream petroleum sector continues to face operational and policy challenges. According to an official communication, the meeting is scheduled for Wednesday (July 8) and will bring together the heads of major OMCs, including Pakistan State Oil (PSO), Attock Petroleum Limited, Hascol Petroleum, Wafi Energy Pakistan, Parco Gunvor, Puma Energy, Gas & Oil Pakistan (GO), Vital Petroleum, and other industry players.…

Read More

ISLAMABAD: A Senate sub-committee has directed the Ministry of Petroleum to submit, within two days, a comprehensive report detailing the profits earned by oil and gas companies over the past 16 years, amid growing concerns over the distribution of revenues generated from Pakistan’s natural resources. The directive was issued during a meeting of the Senate Functional Committee on Devolution’s sub-committee, chaired by Senator Zamir Hussain Ghumro, which reviewed the implementation of constitutional provisions relating to provincial ownership and participation in oil and gas resources. Petroleum Ministry officials informed the committee…

Read More