Category: Latest News

Pakistan and Asia’s energy security: lessons from US-Iran conflict

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Pakistan’s efforts to keep diplomatic channels open between the United States and Iran are being viewed mainly through a geopolitical lens. There is another way to see them: as part of a wider effort to protect Asia from an energy shock. Oil and petroleum product flows through the Strait of Hormuz averaged just 4.9 million barrels a day in the second quarter of 2026, compared with 21.6 million barrels a day in the fourth quarter of 2025, before the conflict began, according to the US Energy Information Administration, August 2026.…

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TONGWEI Earns Three Major Global Clean Energy Recognitions in 2026

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TONGWEI has strengthened its standing in the global clean energy industry after receiving three major international recognitions in 2026, highlighting its performance in sustainability, bankability, manufacturing and technological innovation. The company secured the EcoVadis Gold Medal for the third consecutive year, maintained its position on the BloombergNEF (BNEF) Q3 2026 PV Module Tier 1 List for 16 consecutive quarters, and was named to the S&P Global Energy 2026 Tier 1 Cleantech Companies List for the second consecutive year. Third consecutive EcoVadis Gold Medal In its latest EcoVadis assessment, TONGWEI achieved…

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Iran Vows Economic Reforms as US Sanctions Deepen Pressure

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DUBAI: Iran has pledged to intensify efforts to address economic problems caused by US sanctions, as tensions with Washington continue to escalate and a senior Iranian official warned of a “painful response” to any further attacks. Six months after US-Israeli strikes triggered the conflict, the situation appears largely deadlocked. A preliminary ceasefire agreement reached in June has collapsed, while diplomatic efforts to revive peace talks have made little progress. After a relative lull in military activity during August, hostilities have resumed. US Central Command said it struck three Iranian tankers…

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PLL Reissues LNG Tender Amid Fuel Shortage, Seeks Sept 12–16 Cargo

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ISLAMABAD: Pakistan LNG Limited (PLL) has reissued a tender for the purchase of a liquefied natural gas (LNG) cargo for delivery between September 12 and 16, after rejecting two earlier bids because of high prices. In its first tender, BP Singapore emerged as the sole bidder, offering LNG at $26.90 per million British thermal units (MMBtu) for delivery during September 4–8. PLL rejected the offer as too expensive. The company subsequently floated a second tender for a September 8–12 delivery window. BP Singapore again emerged as the sole bidder, reducing…

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Govt to Penalise Refineries Failing to Sign Upgradation Agreements by Oct 1

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ISLAMABAD: The federal government has decided to impose financial penalties on oil refineries that fail to sign Upgradation Agreements (UAs) with the Ministry of Energy’s Petroleum Division by October 1, 2026, according to well-informed sources. The decision was taken by the Federal Cabinet while considering amendments to the Pakistan Oil Refining Policy for Upgradation of Existing Brownfield Refineries, 2023, following recommendations of the Cabinet Committee on Energy (CCoE). The Petroleum Division told the Cabinet that the amended policy aims to ensure production of Euro-V compliant petrol and diesel, increase refining…

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