Pakistan

Cnergyico, Pakistan's biggest oil refiner, has placed a second order for U.S. crude, after determining that its first purchase was commercially viable. Its vice chairman announced this on Wednesday. This opens the door to more imports. Vice Chairman Usama Qureshi announced that Vitol would deliver a cargo of 1 million barrels of West Texas Light crude (WTL) in November, under Cnergyico’s agreement with the European trader for a term supply. Qureshi stated, "This is our 2nd cargo. Our trading team evaluated crudes for November and found WTL crude's gross refinement margin to be slightly higher than (Gulf crude). If economic...

India expressed its hope that Saudi Arabia would respect the mutual interests and sensibilities between both countries. This comes two days after Riyadh had signed a defence agreement with New Delhi's former foe Pakistan. Saudi Arabia and Pakistan, which is nuclear-armed, signed the agreement on Wednesday. Although few details were made public, analysts believe that the deal could give Riyadh a de facto shield of nuclear weapons. The agreement, signed amid diplomatic turmoil in the Middle East, and only months after a deadly conflict between India and Pakistan, states that any aggression towards either country will be considered as an...

Two sources with knowledge of the matter have confirmed that Pakistan Refinery Limited is planning to import its first shipment of Nigerian Bonny Light Crude from Vitol by September. Asian refiners are looking for cheaper alternatives to Middle Eastern crude oil. Sources who declined to be named because the information was not yet public said that the 500,000 barrels of light-sweet crude oil cargo will load in the second half of this month, and arrive at Karachi by the end September. The price wasn't immediately available. Vitol or PRL didn't immediately respond to our request for comment. This purchase comes...

After a social media backlash, the film studio of Asia's richest person Mukesh Ambani retracted its trademark application for the codename used to describe India's military strike against Pakistan. Reliance, the conglomerate owned by billionaire Ambani, said in a statement that the trademark application had been filed accidentally and without authorization by a junior employee at Jio Studios. It added that "Operation Sindoor," as a symbol of Indian courage, was now "part of the national consciousness." India claimed it had struck "terrorists infrastructure" in Pakistani Kashmir and Pakistan earlier this week, after militants in Indian Kashmir killed 26 men -...

According to a source involved in the proposal as well as a refinery executive, Pakistan may import crude oil for the first to time from the United States to counterbalance a trade deficit that led to higher U.S. duties. As President Donald Trump's import duties shake economies and markets, countries are scrambling for ways to reduce their U.S. duty burdens. This includes buying more U.S. gas and oil. A government source involved in the proposal made to the Prime Minister to purchase more U.S. crude said, "It's one of the products that are being reviewed before a delegation leaves for...

The Pakistani Prime Minister's Office announced that the Pakistan signed an agreement on Monday with the Saudi Fund for Development, delaying by one year the payment of $1.2 billion on oil imports. The state-run Pakistani television broadcast the signing ceremony in real time before a delegation of the fund, led by its CEO Sultan Bin Abdul Rehman Al Marshad, visited Prime Minister Shehbaz Shariff. The office issued a press release in which Sharif expressed his appreciation for the signing of the Oil Import Financing Facility. The office said that Pakistan would receive oil with a one-year deferred payment. The Prime...

Telecoms group VEON is considering a going public (IPO) for its Ukrainian unit Kyivstar in the U.S. as early as next year, CEO Kaan Terzioglu said on Thursday. We have not made those decisions yet, however we are dedicated to looking into IPOs of our local properties. And clearly, Kyivstar is one of those properties which might be in the line of this procedure, Terzioglu told Reuters in an interview. Ought to the IPO go through, Kyivstar would become the first Ukrainian business to be listed in the United States. VEON has actually not had any conversations with Ukrainian officials...

2 Chinese nationals were shot at and injured on Tuesday in Pakistan's business hub of Karachi, authorities and healthcare facility officials stated, after a string of attacks that spurred Beijing to require tougher security for its residents. Faizan Ali, a senior superintendent of authorities, stated 2 Chinese nationals had been shot, however gave no further information. A representative for Liaquat National Medical facility in the southern port city stated it was dealing with the two, one of whom was in severe condition. It was not right away clear who was responsible or if militant violence lagged the attack, one of...

Pakistan's Finance Minister Muhammad Aurangzeb on Thursday showed up in Beijing to open talks on power sector structural reforms recommended by the International Monetary Fund (IMF), two government sources stated. He held a conference with his Chinese equivalent in Beijing, they stated, and added that the finance minister together with Power Minister Awais Leghari is leading a delegation, which will use up several proposals with the Chinese side, consisting of reprofiling of almost $15 billion energy sector financial obligation. The nations, which share a border, have been longtime allies. Rollovers or dispensations on loans from China have actually assisted Pakistan...

Pakistan this month will ask Chinese power plants running in the country to move to utilizing coal from Pakistan's Thar area rather than imported coal, the power minister said on Sunday. Islamabad might also start talks on re-profiling Pakistan's. energy sector financial obligation during the see to Beijing, Awais Leghari,. head of the energy ministry's Power Department, informed . Leghari will become part of the delegation to discuss structural. reforms to the power sector recommended by the International. Monetary Fund (IMF), which recently settled on a $7 billion. bailout for the greatly indebted South Asian country. Neighbouring China has set...

Pakistan this month will ask Chinese power plants operating in the country to move to utilizing coal from Pakistan's Thar area rather than imported coal, the power minister stated on Sunday. Islamabad might also start talks on re-profiling Pakistan's. energy sector debt during the visit to Beijing, Awais Leghari,. head of the energy ministry's Power Department, told . Leghari will be part of the delegation to go over structural. reforms to the power sector suggested by the International. Monetary Fund (IMF), which recently agreed on a $7 billion. bailout for the greatly indebted South Asian nation. Neighbouring China has actually...

Frank Duckworth, the pioneering statistician who cocreated the Duckworth Lewis approach embraced in cricket to revise targets in restricted overs video games truncated due to rain, died recently at the age of 84, the Royal Statistical Society (RSS) stated on Tuesday. Duckworth and Tony Lewis produced the well-known technique which was adopted by the International Cricket Council in 1999. It was commonly used in one-day internationals and later on in T20 matches. Fellows will be unfortunate to discover that Frank Duckworth passed away on 21 June 2024, at the age of 84, the RSS stated in a declaration. Frank will...

After heavy rains in the north, parts of Delhi and Indian Kashmir flooded Thursday. However, weather officials predict some relief from the downpours. This year's fierce monsoon has caused immense destruction, with at least 130 deaths in August. The torrential rains in the Himlayan enclaves of Ladakh and Himachal Pradesh, as well as the federal territory Jammu and Kashmir and the Himlayan enclave Jammu and Kashmir have flooded many rivers to dangerous levels. After a breach in the Jhelum River embankment, authorities advised people to evacuate their homes. Omar Abdullah said on X that "the Jhelum is rising, but at...

Rescuers searched for survivors in Indian Kashmir on Friday using shovels and earthmovers. This was a day after floods caused by heavy rains left at least 200 people missing and 60 dead. On Thursday, mudslides and floodwaters swept through the village of Chasoti, sweeping away pilgrims who gathered to eat before hiking up the hill to a popular religious sight. This is the second disaster like this in the Himalayas within a few weeks. "We heard an enormous sound, and then a flash flooding and slush followed. Some people fell into the Chenab River while others shouted. "Some were buried...

A regional climate monitoring organization said that the flooding in Nepal's Bhote-Koshi River, which killed nine people this week and left over two dozen others missing, was caused by the draining of an supraglacial water in Tibet. After Tuesday's floods, which washed the 'Friendship Bridge,' linking Nepal and China, at least 19 people remain missing, including six Chinese employees of the Beijing-backed Inland Container Depot. China's official Xinhua News Agency has reported that 11 people are missing on the Chinese border. Satellite imagery from Kathmandu's International Centre for Integrated Mountain Development said the flood was caused by the draining of...

Seven leaders from west and central Asia met on Friday and agreed to promote trade liberalisation, increase foreign investment and cooperation in green energy as a way to enhance regional economic integration. As part of its long-term strategy for development up to 2035 the Economic Cooperation Organization meeting also agreed to enhance transport connectivity in the region and restore areas that were affected by conflict. The summit was held under the theme of "A New Vision for ECO for a Climate-Resilient and Sustainable Future." Participants included the Turkish President Tayyip Erdoan, his Azerbaijani colleague Ilham Aliyev as well as Shavkat...

Workers in some of the world's. biggest garment manufacturing centers in Bangladesh, Vietnam, and. Pakistan are significantly exposed to severe heat as climate. change pushes temperature levels up, a report discovered on Sunday, a. problem international retailers and brand names will have to assist. address. Brand-new European Union policies make merchants offering in the. bloc, like Inditex, H&M and Nike, legally liable for conditions. at their providers, putting pressure on them to assist fund. enhancements to cool factories they source from. In Dhaka, Hanoi, Ho Chi Minh City, Phnom Penh and Karachi,. the number of days with wet-bulb temperatures -...

Nearly 2 million Muslims will reach the end of the haj pilgrimage this week, however severe heat has shown fatal for hundreds who began the journey last Friday to the Kaaba at the Grand Mosque in Mecca in Saudi Arabia. A minimum of 562 individuals have actually passed away during the haj, according to a. tally based upon foreign ministry declarations and sources. Egypt alone has actually signed up 307 deaths and another 118. missing, medical and security sources told , as. temperatures sometimes skyrocketed past 51 degrees Celsius (124. Fahrenheit). It was so harsh and the people can not...

Authorities in Pakistan battled forest fires in numerous areas, including the capital Islamabad, on Friday as the nation come to grips with heat waves and dry weather condition. Officials are yet to validate if the fires belong to the heats or due to arson. Parts of Pakistan have actually seen temperatures as high as 52.2 degrees centigrade (126 F) over the last week with South Asia sweltering in a hotter summer this year - a pattern scientists say has been intensified by human-driven environment change. Plumes of smoke might be seen increasing from a raving fire in the hills of...

A minimum of 15 individuals have passed away of presumed heatstroke in India's eastern states of Bihar and Odisha on Thursday, authorities said, with the area gripped in a debilitating heatwave anticipated to continue up until Saturday. India has actually been experiencing a blisteringly hot summer and a. part of capital Delhi recorded the country's greatest ever. temperature level at 52.9 degrees Celsius (127.22 ° F) this week, though. that might be modified with the weather condition department inspecting the. sensing units of the weather station that registered the reading. While temperatures in northwestern and main India are. anticipated to...

Delhi tape-recorded an alltime high temperature of 52.9 degrees Celsius (127.22 Fahrenheit) on Wednesday as severe heat conditions grasped the north and western parts of India, triggering students to faint in schools and drinking water taps to dry up. A heat wave alert has actually remained in place for large parts of India given that recently but on Wednesday the temperature level in Mungeshpur, a largely packed corner of Delhi, crossed the 50 C mark, the weather workplace said. The Indian capital has actually had temperature levels of over 45 C in previous years however never gone as high as...

A minimum of 7 individuals have passed away in India's southern state of Kerala after much heavier than typical premonsoon rains, authorities stated, even as much of South Asia came to grips with a heatwave. Pre-monsoon rains were 18% above regular in Kerala this year, causing flooding in parts and interfering with flights at the Kozhikode airport, officials stated. According to the state's Disaster Management Authority ( KSDMA), a 70-year-old man passed away in a lightning strike in Kasaragod district on Wednesday, while siblings aged 18 and 21 died after falling under a quarry filled with water in Palakkad on...