Pakistan

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...

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...

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...

Pakistan is not likely to purchase melted gas (LNG) cargoes on the spot market until at least the start of winter in November due to oversupply and high rates, its petroleum minister informed . Extreme temperature levels across Asia have pushed nations to look for more freights of LNG to resolve greater power need, driving spot prices to their greatest since mid-December. Asia spot LNG last traded at $12.00 per million British thermal units (mmBtu). on Friday. However, LNG need in the second largest south Asian LNG. purchaser was subordinate to supplies, the minister told ,. despite heatwaves baking the...

India eased some restrictions enforced to combat pollution in its north on Thursday as air quality there improved, with smog paving the way to blue skies and Delhi taping a moderate air quality index reading of 165. As AQI levels soared last month, schools in the capital and adjoining areas were closed, some building and construction was prohibited and offices were asked to consider allowing 50% of employees to work from home. India's Central Pollution Control panel considers an AQI of 0-50 great and above 400 severe, which poses a risk to healthy people and seriously impacts those with existing...

Pakistan's Punjab declared a. health emergency situation due to harmful smog on Friday, prohibiting. building, shutting schools for another week and moving. universities online, with a threeday lockdown possible, the. province's senior minister stated on Friday. Punjab fights harmful smog every winter season as cold air traps. dust, emissions, and smoke from prohibited stubble burning on. fields. Air quality has actually degraded considerably in current weeks. and the province's capital Lahore currently ranks as the world's. most contaminated city, states IQAir. A total lockdown will be imposed on Friday, Saturday,. and Sunday (next week) if the circumstance does not enhance...

Poisonous smog obscured India's famed monolith to enjoy, the Taj Mahal, in addition to Sikhism's holiest shrine, the Golden Temple in Amritsar, and delayed flights on Thursday, becoming too thick to translucent in several locations. The city of Lahore in neighbouring Pakistan ranked as the world's most contaminated in winter's annual scourge throughout the region, intensified by dust, emissions, and smoke from fires burnt illegally in India's farming states of Punjab and Haryana. In the city of Agra, the Taj Mahal was hardly noticeable from the gardens in front of the 17th-century monument, while dense fog wreathed worshippers at the...

Pakistan's province of Punjab set up a smog war space to take on extreme contamination, authorities stated, as bad air quality turned its capital of Lahore into the world's most polluted city and required the closure of some educational institutions. Live rankings by Swiss group IQAir offered Lahore a pollution index score of 1165, followed by the Indian capital of New Delhi, with 299. The war room committee will examine weather and air quality projections ... daily and monitor the performance and actions of field officers, said Sajid Bashir, a spokesperson for the province's environment department. Officials informed Reuters it...

Hazardous smog has shrouded Pakistan's eastern city of Lahore for days as rising pollution spurs authorities to curb activities and established a panel to manage preventive efforts. Here is a take a look at what triggers the hazardous air, and how the federal government is tackling it. WHERE IS LAHORE? The capital of Pakistan's most populated province of Punjab, Lahore is simply 25 km (16 miles) from the border with India, and is thought about the cultural capital of the country. Pakistan's second-largest city after the southern port city of Karachi has a population of about 13 million, and is...

Pakistan's Punjab established a. smog war space to tackle extreme contamination, authorities stated, as. bad air quality in Lahore pressed the capital of the eastern. province to the top of the rankings as the world's most contaminated. city. Live rankings by Swiss group IQAir offered the city a contamination. index rating of 1165, followed by the Indian capital of New. Delhi, with 299. The war space committee will evaluate weather and air quality. forecasts ... daily and monitor the efficiency and actions of. field officers, said Sajid Bashir, a representative for the. province's environment department. Officials informed Reuters it unites...

A toxic smog shrouded the Indian capital on Tuesday, driving air quality in some areas into the serious range ahead of winter, when cold air traps pollutants and brings a spike in breathing health problems. The mix of smoke, emissions, and dust is a yearly issue for authorities in New Delhi, with cars, building dust, and smoke from farm fires in the adjacent northern states of Punjab and Haryana among the major contributors. The outlook for the subsequent 6 days: the air quality is likely to be in the 'extremely bad' to 'severe' classification, said the earth sciences ministry. The...

The Green Climate Fund (GCF). has dedicated $15 million to Pakistani equity capital firm. Sarmayacar, the endeavor fund said on Wednesday, so it can help. startups take on the effect of climate modification in the country that. has been at the leading edge of extreme weather condition. Flooding in Pakistan, which scientists said was exacerbated. by international warming, impacted a minimum of 33 million individuals and. killed more than 1,700 from the start of the monsoon season. in mid-June 2022 until mid-November that year. At the very same time, the nation's challenging macroeconomic. and political scenario implies money to deal...

Living in a pollutionfree environment is a basic right, India's Supreme Court stated on Wednesday as it prompted authorities to address degrading air quality in the north of the nation. India's capital Delhi tape-recorded a really bad air quality index of 364 on Wednesday, according to the Central Contamination Control panel, which thinks about readings listed below 50 to be good. Swiss group IQAir ranked Delhi the world's most contaminated city in its live rankings. The city battles harmful air every winter season and authorities say much of the smoke comes from farmers unlawfully burning paddy stubble to clear their...

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...