Lahore: As part of its nationwide campaign against gas theft and Unaccounted for Gas (UFG) reduction, Sui Northern Gas Pipelines Limited (SNGPL), Islamabad Region, in collaboration with DC Murree and Murree Police, successfully dismantled an illegal gas network operating at a local Hotel located in Lower Bazaar, Murree.According to the spokesperson, on 08 July 2026,…
Following renewed tensions between the United States and Iran over the Strait of Hormuz, Iran’s Islamic Revolutionary Guard Corps (IRGC) issued a warning on Monday about possible extended disruptions to the global oil and gas market. The escalation began last week with US military strikes targeting Iran, in retaliation for Iranian attacks on commercial vessels…
Certain news items have been published in the media yesterday giving the impression as if a new wave of supply disruption/force majeure has hit the gas consumers which will lead to curtailment in gas supplies. Such items don’t reflect the ground realities while no change has been made to the gas supplies to consumers. It…
Two very large crude carriers (VLCCs), fully loaded with Saudi crude oil, are set to transit the Strait of Hormuz, signaling a gradual recovery in traffic through this critical maritime chokepoint. The tankers, owned by Japanese companies Nippon Yusen KK and Kawasaki Kisen Kaisha, loaded the crude on March 1 and had been delayed after…
The Punjab government has officially approved an increase in the annual token tax for petrol vehicles with engines larger than 1000cc, effective from July 1, 2026. This decision was included in the recently passed Punjab Finance Bill 2026 and will impact both private passenger cars and commercial vehicles across the province. Previously, the token tax…
Eni, the Italian energy firm, has announced a new joint venture with Mercuria, a leading global commodity trader, aimed at boosting profits from energy commodity trading. The partnership was formalized on Wednesday and represents an equal ownership arrangement between the two companies. This joint venture is set to operate independently through a holding structure, leveraging…
The rapid rise of artificial intelligence (AI) technologies is triggering an unprecedented surge in energy demand globally. Industry experts warn that the AI revolution requires vast amounts of electricity, making power access a significant bottleneck for future growth. According to estimates by consulting firm McKinsey, investments in AI-related infrastructure could surpass $5 trillion by 2030….
Former U.S. President Donald Trump has publicly urged gasoline retailers to reduce fuel prices immediately, criticizing them for not passing on the benefits of lower crude oil prices to consumers. In a social media statement, Trump emphasized that with oil prices recently dropping to around $68 a barrel and continuing to decline, gasoline stations should…
Crude oil production in the Middle East has rebounded to an estimated 14.6 to 15 million barrels per day (bpd) earlier this month, signaling a significant recovery amid improving geopolitical conditions. This comes following a period of restraint related to tensions between Iran and the United States, with experts now forecasting a return to pre-conflict…
The total number of active drilling rigs for oil and gas in the United States increased this week, according to the latest data released by Baker Hughes. The U.S. rig count now stands at 573, marking a rise of 26 rigs compared to the same period last year. During the most recent reporting period, the…