logo
QatarEnergy announces fuel prices for July 2025

QatarEnergy announces fuel prices for July 2025

Zawya12 hours ago
Doha, Qatar: QatarEnergy announced the fuel prices for the upcoming month of July 2025.
The price for Premium-grade petrol will remain unchanged at QR1.95 while the price for Super has increased to QR2 for July.
Meanwhile, the cost for diesel will also slightly increase in the coming month, amounting to QR1.95 per litre.
The Ministry of Energy and Industry started pegging the fuel prices to the international market and from September 2017, it is QatarEnergy which announced the monthly price list.
© Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

'Vote of confidence': Trump's lifting of Syria sanctions raises hopes for investment
'Vote of confidence': Trump's lifting of Syria sanctions raises hopes for investment

The National

timean hour ago

  • The National

'Vote of confidence': Trump's lifting of Syria sanctions raises hopes for investment

US President Donald Trump 's executive order to permanently lift most sanctions on Syria is a 'vote of confidence' in the country's new leaders, removing some of the final barriers for foreign investors, Syrian officials and experts told The National. The move implements a promise Mr Trump made in May to lift crippling sanctions on Syria's new government, in a major policy shift aimed at giving the country a chance at 'greatness'. The signing of the executive order 'will definitely encourage more investors to take the step and enter the Syrian market,' Ayman Hamawiye, head of Syria's Investment Authority, told The National. In late May, Mr Hamawiye told The National that the authority had received hundreds of letters expressing interest, including letters from dozens of Western companies, following Mr Trump's pledge to end sanctions. Now, Mr Trump's order terminating those sanctions will 'definitely' help turn those expressions of interest into concrete investments, though expectations around the time frame should be managed, Mr Hamawiye said. The regime of Bashar Al Assad was under a dense web of sanctions, which intensified after 2011 following a brutal crackdown on peaceful protests, which led to a 14-year civil war. Since the regime was toppled in December by Sunni rebel groups, Syria has had a surge of investment pledges, particularly from Gulf countries. The latest, announced this week, was a $1.5 billion deal backed by a Qatari company to develop an artistic and media production hub in Damascus. 'Of course, we'll keep in mind that even executive orders need some time before they're implemented on the ground, but in any case, this is a positive and encouraging development,' Mr Hamawiye added. 'There's strong interest in investment, and it's constantly growing. The more the security and international concerns diminish, the more investment interest increases, especially from major international investors,' a source at Syria's Ministry of Economy told The National. The sanctions relief does not apply to Mr Al Assad or his associates. It also excludes people accused of human rights abuses, drug trafficking, chemical weapons activities, or linked to ISIS or Iranian proxies, White House press secretary Karoline Leavitt said on Monday. A 'vote of confidence' Benjamin Feve, a senior researcher at Karam Shaar Advisory, told The National the move was significant for investor confidence and Syria's international reputation, and demonstrated Washington's seriousness in supporting the country. 'This is really a vote of confidence from the US government towards the Syrian government. It also shows that the American administration – even its most senior figures, including those most opposed to [Syrian President Ahmad] Al Shara – were unable to convince Trump to reverse his decision on lifting the sanctions,' Mr Feve said. 'This reflects a real, radical shift within the US administration itself,' he added. During a brief, historic meeting with Mr Al Shara – a formerly Al Qaeda-linked fighter described by Mr Trump as a 'handsome man' with a 'tough past' – the US President urged him to meet specific conditions, including establishing ties with Israel. Back-channel talks have taken place between Syria and Israel are continuing but have yet to yield tangible results, with the issues highly sensitive. Syria has a long history of war with Israel, which has occupied the Golan Heights, a rocky plateau bordering the two countries, since 1967. 'It's also kind of a test for the Syrian authorities, will they manage this post-Assad transitional phase well?' Mr Feve added. Outbreaks of sectarian violence have also raised questions about the interim government's ability to stabilise Syria, despite its pledges of inclusivity. Some sanctions will remain on Syria, including those mandated by the US Congress, as well as the US designation of Syria as a state sponsor of terrorism. Sanctions on Hayat Tahrir al-Sham (HTS), the now-disbanded group that led the December offensive and whose former members lead the government, also remain in place. 'Obviously, none of these sanctions explicitly prevent investments, but they do damage Syria's reputation,' Mr Feve said. Challenges ahead Experts and officials told The National that while the lifting of sanctions is a milestone, the path to recovery remains long. For Mr Feve, the reintegration of Syrian banks into the global financial system, a necessary step to manage the expected flow of billions in reconstruction funds, is a top priority. 'What still blocks things today are the interbank links between Syrian banks and international banks,' Mr Feve said. He said the end of sanctions does not mean foreign banks will automatically resume long-cut ties. 'International banks still don't know whether Syrian banks are really compliant with all the measures meant to prevent money laundering and terrorism financing. So it's taking time, but those connections will gradually be re-established.' Syria's central bank governor told The National last week that Syria's banks are expected to resume ties with international lenders within weeks. According to the source at the Ministry of Economy, challenges also lie in the urgent need for administrative reforms and the state's capacity to manage massive investments. 'The legal complications and the old chaos within government institutions will take time to dismantle. We are in the process of building a new government system – not from zero, but from a point below that, due to the presence of the old system,' the source said.

Dubai's equity benchmark gains 10.6% so far this year
Dubai's equity benchmark gains 10.6% so far this year

Khaleej Times

time2 hours ago

  • Khaleej Times

Dubai's equity benchmark gains 10.6% so far this year

The success of Dubai's diversification efforts once again came to the fore on Wednesday, as the emirate's benchmark stock index marked year-to-date gains of 10.6 per cent, despite facing global headwinds and geopolitical uncertainty. The DFM General Index registered its third consecutive monthly gain in June, rising by 4.1 per cent to close the month at 5,705.76 points. This increase lifted the index's gains to the second highest in the Gulf Cooperation Council after Kuwait, which has gained 14.8 this year and 4.2 per cent last month. Sectoral performance was largely positive, with six out of eight sector indices posting gains during the month. The materials index recorded the biggest monthly gain during June, surging by 21.9 per cent, followed by the industrial index, which advanced by 10.8 per cent. The financial index rose by 4.7 per cent during the month, ending at 3,984.2 points, driven primarily by strong double-digit share price gains in several key sector constituents, including Ekttitab Holding Company (+26.7 per cent) and Amlak Finance (+49.1 per cent). The real estate index — the most heavily weighted among the DFM indices — gained 4.7 per cent during the month. This performance was supported by notable share price gains in companies such as Union Properties (+34.6 per cent) and Al Mazaya Holding Company (+11.8 per cent). The utilities index also advanced by 4.3 per cent, closing the month at 1,022.8 points, as all three constituent companies in the sector reported gains during the month, including a 3.3 per cent rise in the share price of Dewa. According to Bloomberg's monthly stock performance data, Amlak Finance led the list of top gainers in June, posting a notable 49.1 per cent increase in its share price. It was followed by Union Properties and United Foods Co, which recorded gains of 34.6 per cent and 29.5 per cent, respectively. On the monthly decliners' side, Emirates Investment Bank registered the steepest drop, with a 12.3 per cent decline, followed by Agility and Dubai Insurance, which reported decreases of 11.1 per cent and 8.1 per cent, respectively, during the month. Trading activity on the exchange increased in June despite the Eid holidays. The total volume of shares traded surged by 54.6 per cent, reaching 7.0 billion shares compared to 4.5 billion shares in May. In contrast, the total value of shares traded rose marginally by 0.3 per cent, amounting to Dh15.11 billion in June versus Dh15.1 billion in May. Union Properties topped the monthly trading volume chart with 1.2 billion shares traded, followed by Drake & Skull International and Deyaar Development with volume traded at 836.3 million and 669.7 million shares, respectively. In terms of traded value, Emaar Properties led with Dh3.6 billion worth of shares traded during the month, followed by Dubai Islamic Bank and Emirates NBD at Dh1.5 billion and Dh1.2 billion, respectively. Dubai's real estate market continued its robust momentum in May, setting a new record with Dh66.8 billion in total sales transactions, according to data from Property Finder. Primary (off-plan) sales reached Dh17.9 billion, marking a remarkable 314 per cent y-o-y increase in value across 2,400 transactions. Meanwhile, the secondary (ready) market also achieved new highs, recording 6,078 transactions valued at Dh24 billion reflecting y-o-y growth of 8 per cent in volume and 21 per cent in value. These figures underscore sustained and strong demand in Dubai's resale property segment. In Abu Dhabi, the FTSE ADX Index marked its third consecutive monthly advance in June, registering a 2.8 per cent increase during June following a moderate 1.6 per cent gain in the preceding month. The index concluded June at 9,957.52 points, resulting in a year-to-date gain of 5.7 per cent for 1H-2025 while the Q2-2025 gains came in at 6.3 per cent. Sectoral trends on the exchange favoured gainers, with eight out of ten sector indices recording gains. The overall advance in the FTSE ADX General Index was primarily supported by gains in the energy, financial, real estate, and utilities indices. The real estate index led sectoral performance with a gain of 7.8 per cent, reaching 13,188.7 points, as share prices rose in four out of the five companies within the sector. Notably, Al Khaleeji Investment Company saw its share price increase by 7.7 per cent during the month. The utilities index followed with a 6.7 per cent gain, ending the month at 13,945.3 points, bolstered by a 6.7 per cent rise in the share price of its sole constituent, Abu Dhabi National Energy Co, during June. In contrast, the consumer staples index fell the most, declining 4.0 per cent as three out of six constituent companies registered share price decreases, led by a 9.7 per cent drop in shares of Hily Holding.

Pakistan looking to sell excess LNG amid supply glut curbing local gas output
Pakistan looking to sell excess LNG amid supply glut curbing local gas output

Zawya

time3 hours ago

  • Zawya

Pakistan looking to sell excess LNG amid supply glut curbing local gas output

Pakistan is exploring ways to sell excess liquefied natural gas (LNG) cargoes amid a gas supply glut that could cost domestic producers $378 million in annual losses, according to a presentation and a government official familiar with the matter. The country has at least three LNG cargoes in excess that it imported from top supplier Qatar and has no immediate use for, and is currently selling natural gas at steep discounts to local users, a second government official said. Power generation from gas-fired power plants, which has historically accounted for a lion's share of LNG use in the country, has declined for three straight years ended 2024, with cheaper solar power use dramatically gaining at the expense of gas-fired generation, data from energy think-tank Ember showed. That has forced domestic producers of the fuel to curb production. Pakistan is currently exploring the possibility of transferring LNG cargoes to rented tankers for "offshore storage and onward sale," state-owned oil and gas producer OGDCL said in a presentation to industry and government. "Excess LNG in the gas network has resulted in significant production operations impact for local exploration and production companies over last 18 months," OGDCL said, adding that it had forced curtailment of domestic supply. The domestic industry could suffer $378 million in losses over the next 12 months at the current rate of curtailment, according to the presentation dated May 29 reviewed by Reuters. It is not immediately clear if Pakistan's long-term LNG import contracts with QatarEnergy allows for a resale of cargoes. One of the government officials said the country was still exploring ways to do it. Qatar typically has a destination clause in long-term supply contracts with buyers that restrict where the cargoes can be sold. QatarEnergy did not immediately respond to a request seeking comment. Pakistan has already deferred five contracted LNG cargoes from Qatar without financial penalty, shifting delivery from 2025 to 2026, as the country grapples with surplus capacity. Pakistan's petroleum minister Ali Pervaiz Malik declined to comment on the presentation, but said renegotiating contracts with Qatar was a "complex" process that could take at least a year, and a final decision on initiating it had yet to be made. "While the existing contract with Qatar allows Pakistan to decline vessels, doing so incurs penalties and other complications," Malik told Reuters. The glut has stemmed from several gas-fired power plants, previously operating under must-run contracts, now being sidelined, Malik said. "It was expected that summer season will create extraordinary demand but the trend indicates the opposite," OGDCL said in the presentation. (Reporting by Ariba Shahid and Sudarshan Varadhan; editing by David Evans)

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store