GE shares tumble below $9 as JP Morgan analyst cuts price target
GE shares, which were booted from the blue-chip Dow Jones Industrial Average earlier this year, have now slumped some 50 percent in 2018 alone
Oil falls 1 percent, U.S. crude on longest losing streak since 1984
Brent slumped about 3.6 percent for the week and more than 15 percent this quarter
Pakistan’s wind, solar energy production to be doubled by 2022
ISLAMABAD:Â The priority projects in the energy sector under China Pakistan Economic Corridor (CPEC) would help Pakistan optimize the energy structure and reduce...
Oil prices fall into bear market on rising supply, economic concerns
Both Brent and WTI have declined by around 20 percent from the four-year highs they reached in early October
Petroleum division to submit plan for mitigating gas crisis in Punjab
Petroleum Division wants the government to permit SNGPL to provide re-gasified LNG through its transmission system to domestic and commercial consumers provided the Oil and Gas Regulatory Authority (OGRA) permitted the volume adjustment and financial impact on a cost neutral basis
IMF expresses worry over energy deals reached under CPEC
The variation of $9 billion could create problems in making accurate projections linked to future CPEC related outflows, said sources in the Ministry of Finance
K-Electric should clear its books, ledgers, for sale go-ahead
The committee was told due to the ongoing dispute there was no power purchase agreement between KE and Central Power Purchase Company (CPPC)
Oil drops on Iran sanction exemptions, economic concerns
International Brent crude oil futures were down 28 cents, or 0.4 percent, at $72.89 a barrel
Industries in dilemma, as dispute arises over rates of subsidized gas supply
According to the memorandum, the cabinet decision came into effect on October 16th instead of September 27th, when the federal government gave go-ahead to new gas rates which have been opposed by Aptma
Oil industry seeking foreign currency exposure to be included in pricing of petroleum products
During the meeting last week, the oil industry had put forward the case for a continuation of 7.5% deemed duty on diesel refining and rise to 9% despite the Senate standing committee on petroleum order to scrap the deemed duty
Decrease in sales tax on petroleum products may cause Rs60 billion in losses
To shield the end consumer from the full impact of rising oil prices, the government has been reducing sales tax which according to tax authorities estimates a sharp decrease of 46 percent in revenue collection in November 2018
Govt finalises strategy to install smart meters, ABC cables to control power theft
ISLAMABAD:Â The Pakistan Tehreek-e-Insaf (PTI) government has decided to install smart electricity meters and new aerial bundles cables (ABC) across the country in...
NPPMC declines to clear Rs15b penalty imposed on two Chinese companies
ISLAMABAD: The National Power Park Management Company (NPPMC) has refused to give an end to a penalty worth Rs15 billion it imposed...
China’s Zhenhua Oil to sign oil deals with Iraq, Saudi at Shanghai expo: Sources
China’s Iraqi crude oil imports rose to 32.28 million tonnes in the first nine months of the year, or 863,000 barrels per day, 15 percent more than the same year-earlier level, according to Chinese customs data
Oil drops 1% as U.S. allows Iran sanctions waivers
Both contracts have fallen more than 15 percent from the near four-year highs touched in early October on worries the looming Iran sanctions could drain supply from global markets