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SINGAPORE: Oil prices were mixed in Asia on Thursday as traders took profits from gains fuelled by a bigger-than-expected drop in US crude inventories, analysts said. New York's main contract, West Texas Intermediate (WTI) light sweet crude for delivery in August, was up 27 cents to $106.79 a barrel in afternoon trade after a dip earlier in the day. Brent North Sea crude for August delivery was down 13 cents at $108.38. WTI crude surged $2.99 in New York Wednesday after the US Energy Information Administration's (EIA) weekly crude stockpiles data indicated a pickup in demand in the world's biggest economy. Brent rose 70 cents in London trade Wednesday. "Traders have paused to take stock following the huge overnight gains over the EIA data," David Lennox, resource analyst at Fat Prophets in Sydney told. "This is prime US driving season, and the inventory drawdown indicates a healthy pickup in demand," he said. The EIA data released Wednesday showed US crude stockpiles tumbled 9.9 million barrels in the week ended July 5.
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ISLAMABAD: The Ministry of Petroleum and Natural Resources has decided to close down the gas supply to CNG stations, captive power plants (CPPs) and industrial and fertiliser sectors in the coming winter season.
During December, January and February, the country is estimated to experience a gas shortfall of 1.8 billion cubic feet of gas per day.
The..... Read more
The LPG prices have been reduced by Rs5 per kilogram all over the country owing to reduction in price in the international market.
After decrease of Rs5,000 per metric tond, price of domestic cylinder has declined by Rs60 and commercial cylinder by Rs240. For the month of February, LPG would be sold at Rs140 per kg in Karachi and Rs145 per kg in Lahore, F..... Read more
Pakistan’s large scale manufacturing (LSM) sector has recorded minor growth of 2.12 percent during first half (July-December) of ongoing financial year 2012-13 mainly due to persistent energy shortages, unfavourable law and order situation and weak global economic environment.
Poor law and order situation, political uncertainty, acute energy..... Read more
