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Oil down as Obama seeks Congress approval on Syria

Source: Geo News | 02-09-2013

SINGAPORE: Oil prices fell in Asian trade Monday after US President Barack Obama's announcement that he would seek approval from

lawmakers for military action against Syria eased prospects of an imminent strike, analysts said.

New York's main contract, West Texas Intermediate for delivery in October, was down $1.47 to $106.18 a barrel in mid-morning trade, while Brent North Sea crude for October fell $1.15 to $112.86.

Subsidised power supply to KESC illegal: Senate panel

Source: Tribune | 26-02-2013

A parliamentary panel has suggested that the government should stop 650 megawatts of power supply to Karachi Electric Supply Company (KESC) and has also constituted a sub-committee to probe alleged misappropriation of money in privatisation of the power company. The new committee, headed by Senator Shahi Syed, will also examine claims of delay in depositi..... Read more

Chinese workers strike over takeover of US firm: Xinhua

Source: Geo News | 31-07-2013

BEIJING: More than 5,000 Chinese workers at a Sino-US joint venture tyre manufacturer have gone on strike against the American parent company's $2.5 billion takeover by an Indian firm, state media reported. Cooper Tire and Rubber announced last month that it would be taken over by Apollo Tyres of India, making the combined group the seventh-largest ..... Read more

Relief for consumers: Substantial cut in gas prices likely

Source: Tribune | 27-03-2013

Gas consumers are expected to get relief from a substantial cut in gas prices as the Oil and Gas Regulatory Authority (Ogra) has planned to relieve consumers of a Rs44 billion burden over the next three years. Officials told The Express Tribune that Ogra mulled over passing on the Rs44 billion to consumers which were stuck with gas companies due to numero..... Read more

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