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PSO attracts bids for two petrol cargoes amid Strait of Hormuz tensions

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PSO attracts bids for two petrol cargoes amid Strait of Hormuz tensions


This image shows the Pakistan State Oil filling station on January 29, 2021. — Facebook@PakistanStateOil
  • Bids valid until Mar 13; PSO must respond before the deadline expires.
  • Agricultural machinery expected to increase fuel consumption.
  • Diesel stocks sufficient for 20 days, demand to rise with harvest season.

Amid tensions in the Strait of Hormuz, Pakistan State Oil (PSO) has received bids from international traders for two petrol cargoes, each weighing 55,000 metric tons with a 92 RON rating, as the country works to secure supplies amid fluctuating global fuel prices.

Sources indicate that for the first cargo, OQ Trading submitted the lowest bid with a Cost and Freight (CFR) premium of $17.8 per barrel. Be Energy SA offered a CFR premium of $22 per barrel, while Vitol Bahrain E.C. quoted the highest premium at $39 per barrel, The News reported.

For the second cargo of the same quantity, only two bidders participated. Once again, OQ Trading emerged as the lowest bidder, offering a CFR premium of $19.5 per barrel, while Be Energy SA submitted a bid of $23.5 per barrel. Officials noted that the lowest bids for both cargoes are still considered relatively high.

Officials said the bids were received under the rules of the Public Procurement Regulatory Authority (PPRA), which governs public sector procurement in Pakistan. However, authorities noted that the strict tendering procedures sometimes contribute to higher procurement costs, particularly during periods of volatility in international energy markets.

The bids will remain valid until March 13, meaning the PSO must respond to the bidders and finalise its decision before the deadline expires.

Sources also revealed that the PSO failed to receive any bids for a high-speed diesel cargo, as the traders quoted a CFR premium of around $80 per barrel, which was deemed excessively high. Due to daily fluctuations in international petroleum prices, the suppliers were reluctant to offer competitive bids within the validity period.

Meanwhile, Total Parco Pakistan Limited, an oil marketing company, has arranged a cargo of Euro-II specification diesel at a premium of $20 per barrel and is seeking government approval for the import. The PSO, however, typically imports Euro-V specification diesel, which meets stricter environmental standards.

Officials said Pakistan’s diesel stocks are currently sufficient for about 20 days, but the demand is expected to increase next month with the start of the harvesting season, when agricultural machinery significantly raises fuel consumption.

Given the anticipated surge in demand from the agriculture sector, authorities stressed that arranging diesel supplies at affordable prices will be crucial to ensure uninterrupted farming operations and maintain stability in the domestic fuel market.





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Princess Beatrice ‘confirms’ heartbreaking truth as scandal takes toll

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Princess Beatrice ‘confirms’ heartbreaking truth as scandal takes toll


Princess Beatrice ‘confirms’ heartbreaking truth as scandal takes toll

Princess Beatrice revealed that she has been ‘hit hard’ after back-to-back shocking revelations about the York family drama. 

The eldest daughter of Andrew and Sarah was spotted two times in a row amid talks surrounding her marriage to Edoardo Mapelli Mozzi.

Beatrice was spotted carrying her own suitcases outside St James’s Palace. She called Uber and left.

Then, she was captured by the media during a lunch date with her youngest sister, Eugenie, in Mayfair.

According to an eyewitness, the sisters were “in great spirits as they made the most of the sunshine” during their lunch date. 

But, as per a body language expert, behind those smiles, there was a visible tension, especially on Beatrice’s face, which she failed to hide.

It appeared that the Princess confirmed her current struggling phase as her parents’ controversy and marital woes rumours have taken a toll on her health. 

Judi James shared with the Mirror, “While Eugenie appears comfortable putting on a display of resilience and bravado for the cameras, sporting a wide wall-to-wall smile to suggest life is nothing other than perfect, her older sister Beatrice looks less able to bluff it out here…”

“…Eugenie’s gestures and facial expression hint that she has been hit hard by the fallout of her parents’ dramas,” the expert claimed. 

Decoding one of the photos from the sisters’ latest appearance, Judi shared that “…she has her arms folded over her torso, which could also be a sign of vulnerability.”

“Her facial expression looks strained and unhappy here. Her eyes have a haunted expression, and her lips are clamped shut,” she further said. 





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President, PM pay tribute media workers on World Press Freedom Day

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President, PM pay tribute media workers on World Press Freedom Day


President Asif Ali Zardari (left) and Prime Minister Shehbaz Sharif. — Online/AFP/File
  • Day being observed under “Shaping a Future at Peace” theme this year.
  • President warns of AI misuse, fake news, global media manipulation risks.
  • PM highlights journalism’s role in informed society and public awareness.

President Asif Ali Zardari and Prime Minister Shehbaz Sharif reaffirmed the government’s commitment to safeguarding and promoting press freedom on World Press Freedom Day.

The day is being observed under the theme “Shaping a Future at Peace” this year.

The president and the prime minister emphasised the role of responsible journalism, truth, and credible information in strengthening democracy, national unity, and creating a conducive environment for media freedom.

In his message, President Zardari extended greetings to media workers globally and warned of increasing global threats to press freedom, including misinformation, disinformation, artificial intelligence misuse, algorithmic manipulation, and pressure from powerful tech platforms and social media companies.

He said such forces can distort public discourse and weaken democratic values. Reaffirming constitutional commitment under Articles 19 and 19-A, he said a free press is essential for accountability, transparency, and democracy.

The president said that this year’s theme highlights that peace depends on truth, and truth depends on courageous journalism.

“At the same time, freedom brings responsibility. Accuracy must not be sacrificed for speed and balance must not give way to partisanship. Public trust, the most valuable asset of free press, must be earned, protected and never taken for granted,”he added.

He also referred to Pakistan’s unified response during Operation Bunyan-um-Marsoos, praising the media for countering false narratives and maintaining national cohesion. The President also paid tribute to journalists who sacrificed their lives in pursuit of truth and called for stronger protections and safer working conditions for media professionals.

He also urged citizens to reject falsehood and support credible journalism, and called upon both federal and provincial governments to ensure enabling laws and safe working conditions for journalists across the country.

Separately, PM Shebhaz paid tribute to journalists and media professionals worldwide for their services, stating that journalism plays a vital role in building an informed society.

He stressed that authentic, unbiased, and verified reporting is the foundation of journalism, while urging media professionals to prevent the spread of propaganda, fake news, and unverified content.

He said responsible journalism contributes to peace by shaping informed public opinion and strengthening international understanding.

He also acknowledged the sacrifices of journalists who lost their lives in the line of duty and emphasised the importance of adapting to digital transformation while maintaining credibility.

Warning against the rise of fake news and disinformation campaigns, he called on journalists to uphold verification, integrity, and professional ethics, reaffirming the government’s commitment to ensuring a safe and enabling environment for press freedom.

He further said that the media can play a constructive role in strengthening international relations, economic cooperation, and societal harmony, and emphasised that while speed is important in the digital era, it must never come at the cost of accuracy and verification, as public trust remains the most valuable asset of journalism.





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Buckingham Palace makes statement amid Princess Eugenie pregnancy talks

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Buckingham Palace makes statement amid Princess Eugenie pregnancy talks


Buckingham Palace makes statement amid Princess Eugenie pregnancy talks

King Charles’ team released a fresh statement as Princess Eugenie once again became the talk of the town due to her third pregnancy rumours.

On the official social media channels of the royal family, the monarch’s personal message has been shared following his trip to Bermuda.

Buckingham Palace revealed that the King expressed gratitude towards the people of Bermuda for welcoming him with big hearts.

“Thank you to all the people of Bermuda for such a wonderful few days and for the fond memories that will last a lifetime,” King Charles began his statement. 

He added, “I carry your joyful enthusiasm home with me, with my most heartfelt gratitude for your kind support and for that famous island hospitality. Until we meet again…”

It is worth noting that King Charles’ heartfelt note emerged during a time when both York sisters, Beatrice and Eugenie, were spotted by the cameras.

The daughters of Andrew Mountbatten-Windsor were captured enjoying lunch in Mayfair, London. 

However, the detail which attracted fans was Eugenie’s ‘baby bump,’ visible in the photos.

Notably, no official confirmation or rejection has been made by Princess Eugenie or the royal family as of now. 





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