PM Shehbaz summons emergency meeting on petroleum amid tensions

ISLAMABAD: Prime Minister (PM) Shehbaz Sharif has summoned an urgent meeting on Tuesday to address the supply of petroleum products, prompted by the volatile regional situation, ARY News reported citing sources.

PM Shehbaz will chair the meeting while representatives from the Petroleum Division, Oil and Gas Regulatory Authority (OGRA), Pakistan State Oil (PSO), and refinery officials will also attend the meeting. The participants will review current stocks of petrol and diesel along with future supply prospects.

According to sources, the meeting will also consider the impact of fluctuation in global oil prices and the potential closure of the Strait of Hormuz. The prime minister has established an Oil Supply Committee, led by the Finance Minister Muhammad Aurangzeb, to oversee these concerns.

The committee will assess oil supply contingencies should the Strait of Hormuz be blocked. Petroleum Division officials have assured that the country’s petroleum reserves are sufficient to meet current demands.

Following Iran’s attack on a US military post in neighboring Qatar in response for US strikes on Iranian nuclear facilities over the weekend, oil prices fell more than 6% on Monday.

Brent oil prices sank 6.4 percent to $72.07 a barrel, the lowest level in ten days, while West Texas Intermediate futures slid 6.5 percent to $69.96 a barrel about 1815 GMT.

from Latest Pakistan News and Breaking News from All over Pakistan https://ift.tt/pckwsvY

Comments

BISE Malakand announces Matric Exam 2025 toppers

MALAKAND: The Board of Intermediate and Secondary Education (BISE) Malakand has formally declared the names of BISE Malakand Matric Toppers 2025 on Wednesday, July 30, 2025, lauding the students’ academic intellect across the region. According to the results, Malakand Board Toppers from both the Science and Humanities groups across the region secured the positions. This year’s BISE Malakand Matric toppers have proved an extraordinary performance in the Matric Annual Examination Part-I. Saman Wahab, a student from Hira School and College, Dargai, emerged as the winner in the list of BISE Malakand Matric Position holders by scoring an excellent 1169 in the science group. Huma Hameed, a student from Muhsanat Academy, Sangolai, achieved the top spot in the Humanities Group with 1094 marks. Science Group Toppers Name Institute Position Marks Saman Wahab Hira School and College Dargai, MKD 1st 1169 Komal Mehboob Qazi PIMS School and Girls College Biari, Dir (L) ...

President Zardari meets envoys of five countries, stresses global ties

ISLAMABAD: President Asif Ali Zardari highlighted the need to strengthen bilateral cooperation with Sri Lanka, Indonesia, Kyrgyzstan, Austria, and Germany as he greeted their recently appointed ambassadors at Aiwan-e-Sadr, ARY News reported. During the meeting, the appointed ambassadors formally presented their diplomatic credentials. Pakistan Armed Forces celebrated the ceremony with a guard of honour. In one-on-one meetings with the High Commissioner-designate of Sri Lanka and Ambassadors-designate of the other nations, President Asif Zardari stressed Pakistan’s commitment to strengthening bilateral cooperation in different sectors, including trade, economy, and culture. Asif Zardari expressed his best wishes to the diplomats on their new roles, hoping that their tenure would strengthen relationships and foster regional partnership. The ceremony was attended by the diplomats of different nations, including Rear-Admiral H.L.A. Don Fred Senevirante from Sri Lanka, Chandra Warsenan...

Pakistan floods: South Asia’s monsoon explained

Floods in Pakistan have killed more than 1,000 people after what its climate change minister called a record unbroken cycle of monsoon rains with “8 weeks of non-stop torrents”. AFP explains what the monsoon is, why it is so important and yet so dangerous, and how climate change and other man-made effects may be altering the vast life-giving but destructive annual weather system. What is the South Asian monsoon? The Southwest or the Asian Summer Monsoon is essentially a colossal sea breeze that brings South Asia 70-80 percent of its annual rainfall between June and September every year. It occurs when summer heat warms the landmass of the subcontinent, causing the air to rise and sucking in cooler Indian Ocean winds which then produce enormous volumes of rain. Why it is important? The monsoon is vital for agriculture and therefore for the livelihoods of millions of farmers and for food security in the poor region of around two billion people. But it brings destruction every ye...

Daily News

Search This Blog