Category: Popular News

China’s May crude imports at 4-mth low amid widespread refinery maintenance

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opec

China’s crude oil imports fell in May to their lowest daily rate in four months, data showed on Monday, as planned maintenance work at both state-owned and independent refiners picked up. May imports in the world’s largest crude buyer totalled 46.6 million metric tons, equivalent to 10.97 million barrels per day (bpd), according to data from the General Administration of Customs. The volume dropped by 3% compared with 48.06 million tons in April, and also fell 0.78% from May 2024. In the first five months of 2025, China imported 229.61…

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Jul–Mar power usage down 3.6pc

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power

ISLAMABAD: Pakistan’s electricity consumption has declined by 3.6 per during the first three quarters (July–March) of FY 2024-25 due to variety of reasons, including subdued industrial activity and consumers financial position. According to the Economic Survey 2024-25, during July-March FY 2025, total electricity consumption in Pakistan stood at 80,111 GWh, compared to 83,109 GWh in the corresponding period of FY 2024, reflecting a 3.6 percent decline in electricity usage. This contraction may be attributed to ongoing energy conservation measures, elevated power tariffs, off-grid solar solutions, and subdued industrial activity. The…

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July-March of FY2025: Significant cut in crude oil, gas extraction recorded

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Oil falls

ISLAMABAD: A significant decrease in domestic crude oil and natural gas extraction has been recorded during the first nine months (July-March) of the current fiscal year 2025, according to the recently released Pakistan Economic Survey 2024-25. The crude oil extraction dropped by 14.8 percent, while natural gas production declined by 6.8 percent on year to year basis. “With no significant new discoveries, the country relied heavily on Re-gasified LNG (RLNG), imports to meet domestic demand, especially for the power and industrial sectors,” the survey stated. From July to March in…

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Oil rises on optimism about US-China talks easing trade tensions

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Oil falls

LONDON: Oil prices climbed on Tuesday as investors awaited the outcome of U.S.-China trade talks and as Saudi Arabia’s crude supply to China is set to dip slightly. Brent crude futures rose 34 cents, or 0.5%, to $67.38 a barrel by 1045 GMT. U.S. West Texas Intermediate crude was up 33 cents, or 0.5%, at $65.62. On Monday, Brent had risen to $67.19, the highest since April 28, buoyed by the prospect of a U.S.-China trade deal. U.S.-China trade talks were set to continue for a second day in London…

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Rs17.6 Trillion Federal Budget 2025–26 to Be Unveiled Today

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Buget-25-26

ISLAMABAD: The federal government will unveil the Rs17.6 trillion Budget 2025–26 in the National Assembly today, with Finance Minister Senator Muhammad Aurangzeb set to present the financial plan and deliver his second budget speech. The Finance Bill 2024 will also be laid before the Senate, as mandated under Article 73 of the Constitution. According to official sources, the government anticipates gross federal revenues of Rs19.4 trillion, with the Federal Board of Revenue (FBR) tasked with collecting Rs14,130 billion in taxes. The target includes Rs6,450 billion in direct taxes, Rs4,900 billion…

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