Category: Latest News

Honeywell Proposes Refinery Modernisation Plan to Boost Pakistan’s Energy Security

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Oil-Companies

ISLAMABAD: Pakistan is evaluating a proposal from US-based Honeywell Technologies to modernise and expand the country’s oil refining sector, aiming to increase domestic refining capacity, improve fuel quality, and reduce dependence on imported petroleum products. The proposal was discussed during a high-level meeting in Washington, D.C., between Finance Minister Muhammad Aurangzeb and a Honeywell delegation led by Vice President and General Manager Barry Glickman, according to an official statement issued on Tuesday. During the meeting, Aurangzeb welcomed Honeywell’s proposal, describing it as a significant opportunity to strengthen Pakistan’s downstream petroleum…

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Hormuz Shipping Traffic Declines Further as US-Iran Tensions Escalate

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New-Project248

SINGAPORE: Vessel traffic through the strategically vital Strait of Hormuz continued to decline at the start of the week as heightened security concerns followed a fresh exchange of attacks between the United States and Iran. According to shipping analytics firm Kpler, only four commodity vessels transited the strait on Monday, down from seven vessels on Sunday, reflecting growing caution among shipping operators. The vessels included two tankers exiting the strait—one carrying petrochemical cargo and another sailing empty—and two inbound vessels, comprising a bitumen tanker and an oil tanker. Notably, there…

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Petroleum Dealers Welcome Daily Pricing Reform and pledge support

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New-Project247

Islamabad, July 20, 2026: Federal Minister for Petroleum Ali Pervaiz Malik held a meeting with a delegation of the Pakistan Petroleum Dealers Association (PPDA), led by Chief Adviser Malik Khuda Baksh, to discuss petroleum pricing reforms, deregulation, and matters concerning petroleum dealers. The PPDA delegation appreciated the Government’s effective management of petroleum product supplies during the challenges arising from the Strait of Hormuz crisis. They commended the Ministry of Petroleum for ensuring uninterrupted fuel availability across the country despite regional uncertainties. PPDA Chief Adviser Malik Khuda Baksh said that while…

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Economy amidst conflicts

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Economy amidst conflicts

Confronted by escalating tensions in the Middle East and repeated disruptions to shipping through the Strait of Hormuz, Pakistan has begun taking concrete steps to establish its first-ever Strategic Petroleum Reserves (SPR). The country currently operates largely on a fragile, just-in-time commercial inventory model, with petroleum stocks providing only limited protection against prolonged supply disruptions. Under the proposed strategy, the government plans to establish a 45-day emergency oil buffer in the first phase, with a longer- term objective of expanding reserve capacity to 90 days. These stocks could be requisitioned by the…

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Gwadar: The Port That Can Redraw Asia’s Energy and Trade Map 

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Alpha

Gwadar’s deep-sea location could reduce shipping congestion and insurance costs, enabling an energy storage and refining hub. Linked to rail and CPEC corridors, it may accelerate Eurasian trade and boost Balochistan—if security and investment hold. The development of the deep-sea port at Gwadar Port represents far more than a regional  infrastructure project. It is potentially one of the most consequential economic transformations in  South Asia and the broader Eurasian region. Located on Pakistan’s southwestern coast along the  Arabian Sea, Gwadar occupies a rare geographic advantage: it sits just outside the…

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