OPEC+ Confirms Gradual Phase-Out of Production Cuts
The eight OPEC+ countries that previously announced voluntary production cuts—Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman—met virtually on April 3, 2025, to review global oil market conditions and outlook, according to the Emirates News Agency.The group confirmed its plan to gradually phase out the 2.2 million…
Pakistan’s Central Power Agency Pays IPPs: Financial Relief Ensues
Pakistan’s Central Power Purchasing Agency-Guaranteed (CPPA-G) has commenced the disbursement of overdue receivables to Independent Power Producers (IPPs) as part of ongoing negotiations, several listed companies confirmed, a brokerage house report mentioned on Thursday.The payments, accumulated up to November 1, 2024, include settlements under the government’s tariff reduction plan, which…
China’s Shocking Tariffs Spark Global Trade War Fears
China announced additional tariffs of 34% on U.S. goods on Friday, the most serious escalation in a trade war with President Donald Trump that has fed fears of a recession and triggered a global stock market rout.In the standoff between the world's top two economies, Beijing also announced controls on…
Revolutionizing Pakistan’s Power Sector: Competitive Bidding Takes Over
Pakistan's government plans to abandon the single-buyer model in the electricity sector and transition entirely to a competitive bidding system, Energy Minister Muhammad Owais Leghari announced Friday during a briefing at the National Electric Power Regulatory Authority (NEPRA).Leghari said a proposal has been prepared to recommend that power purchases be…
