Category: Latest News

Aramco Q2 Profit Falls 22% Amid Lower Oil Prices and Revenue

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Aramco-new

DUBAI: Saudi Aramco, the world’s largest oil exporter, reported a 22% decline in net profit for the second quarter of 2025, primarily due to a drop in crude oil prices and overall revenue. The company posted a net profit of \$22.7 billion for the three months ending June 30, falling short of the \$23.7 billion median estimate from 17 analysts surveyed by Aramco. Aramco’s average realised crude oil price stood at \$66.7 per barrel during the quarter, a steep decline from \$85.7 in Q2 of 2024 and \$76.3 in the…

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Pesco Cuts Losses by Rs22 Billion in FY 2024-25 Amid Major Reforms

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New-Pesco

PESHAWAR: Peshawar Electric Supply Company (Pesco) has reported a significant reduction of Rs22 billion in financial losses for the fiscal year 2024-25—marking the utility’s first major financial improvement in five years. According to a company statement, this turnaround follows a series of bold reforms and strategic administrative actions implemented under the guidance of the newly appointed Board of Directors, led by Chairman Himayatullah Khan. Pesco had been grappling with mounting financial losses, which surged from Rs42 billion in FY 2020-21 to Rs142 billion in FY 2023-24. However, by the end…

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Nepra Flags Legal, Operational Concerns Over Amendments to NE Plan and SEC Rules

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Nepra

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has raised serious objections to proposed amendments in the National Electricity (NE) Plan 2023–27 and Supplier Eligibility Criteria (SEC) Rules, 2023, warning that the changes could obstruct the rollout of the Competitive Trading Bilateral Contract Market (CTBCM). In its response to an Office Memorandum issued by the Ministry of Energy (Power Division) on April 21, 2025, Nepra highlighted that the framework for recovering stranded costs—a cornerstone of market liberalisation—must be embedded within the NE Plan itself. Relying on secondary documents, the Authority…

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China Empowers Pakistan’s Hydropower Sector Through Dam Training Program

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Hydropower-Sector

RIZHAO: A 28-day training program on hydropower technology and management for Pakistani water conservancy professionals concluded on August 2 at the Shandong Water Conservancy Vocational College, China. The initiative aimed to strengthen Pakistan’s capacity in dam development, with a particular focus on the Kurram Tangi Dam project. Tailored to meet Pakistan’s hydropower needs, the training covered five key areas: mechanical and electrical equipment, automation systems, hydraulic structures and design, dam safety management, and hands-on experience at hydropower stations. Participants also toured seven major hydropower sites, including the Changgou Pumping Station…

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Saudi Aramco Posts 22% Profit Decline Amid Lower Oil Prices

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Saudi-Aramco

RIYADH – Saudi Aramco reported a 22% drop in its second-quarter profit, totaling 85 billion riyals (\$22.67 billion), as lower crude and refined product prices continued to weigh on revenues. The state-owned oil giant, a key pillar of the Saudi economy and the world’s largest oil exporter, has now recorded profit declines for 10 consecutive quarters following record earnings in late 2022. “The decrease in revenue was mainly due to lower crude oil prices and lower refined and chemical product prices,” Aramco stated in its latest quarterly report. Aramco’s shares…

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