Category: Latest News

FPCCI Demands Suspension of PDL, Warns of Industrial Closures Amid Oil Price Shock

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FPCCI

FPCCI President Atif Ikram Sheikh has expressed grave concerns over rising global oil prices, warning they are crippling Pakistan’s export competitiveness and threatening widespread industrial shutdowns. He said the surge in prices of HSD and furnace oil, combined with high domestic levies, has inflated logistics, power generation, and manufacturing costs. This is pushing Pakistan’s export sectors behind regional competitors like Bangladesh, India, and Vietnam. FPCCI’s Key Demands: Mr. Sheikh cautioned that SMEs will be hit hardest due to the liquidity crisis. Without targeted relief, the country faces factory closures, job…

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Kuwait Petroleum Corp Plans to Expand Shipping Fleet

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New-Project126

SINGAPORE: Kuwait Petroleum Corp (KPC) is looking to acquire additional vessels as the state-owned energy company expands its shipping fleet amid ongoing disruptions to regional oil trade, a senior executive said on Tuesday. KPC Managing Director for International Marketing Shaikh Khaled Al-Sabah said the company currently operates its own fleet and is actively exploring opportunities to purchase more ships. The move comes as the US-Iran conflict creates growing uncertainty over oil transportation routes and regional energy supplies. KPC is also evaluating alternative options to ensure reliable deliveries of crude oil…

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SNGPL Faces Severe Liquidity Crisis as Power Sector Dues Near Rs174 Billion

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SNGPL-Office

ISLAMABAD: Sui Northern Gas Pipelines Limited (SNGPL) is facing a serious liquidity crisis due to outstanding receivables of nearly Rs174 billion from the power sector, largely because of delays in fund releases by the Central Power Purchasing Agency-Guaranteed (CPPA-G), official sources said. According to SNGPL, total receivables from the power sector stand at Rs173.654 billion, creating significant financial pressure on the gas utility and affecting its ability to meet payment obligations to upstream gas suppliers. Among government-owned power plants, the largest outstanding amounts include Rs35.24 billion against Guddu Power, Rs21.30…

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Why Oil Prices Remain Below $100 Despite Middle East Supply Disruptions

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New-Project125

LONDON: Global oil benchmark Brent crude has rallied this month but remains below the $100-a-barrel mark, despite escalating tensions in the US-Iran conflict and disruptions to energy shipments through the Strait of Hormuz and the Red Sea. Crude shipments from Middle Eastern producers have fallen to around 11 million barrels per day (bpd) from approximately 18m bpd before the US-Israeli war on Iran began seven months ago, according to Argus. Despite the sharp reduction, several factors have prevented oil prices from rising further. Significant volumes still moving through Hormuz A…

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UAE Develops Alternative Oil Export Routes Amid Strait of Hormuz Crisis

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New-Project124

DUBAI: The United Arab Emirates is developing alternative routes for energy exports and trade to reduce its vulnerability to the ongoing US-Iran conflict, UAE presidential adviser Anwar Gargash said on Monday. Speaking at the Hili Forum in Abu Dhabi, Gargash said the UAE’s energy exports and broader economic activity would not be allowed to become “hostage” to the conflict. The UAE has been expanding port capacity along its eastern coast while developing pipelines, rail links and alternative trade corridors to maintain the flow of energy exports and commercial activity, he…

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