Month: February 2020

Natural gas markets continue to chop around just above the psychologically and structurally important $1.80 level. Ultimately, this is a market that should continue to see a lot of back and forth noise, as the market simply haven’t gone anywhere of the last couple of weeks. Quite frankly, we are at extreme lows but also don’t have much in the way of demand at the same time. With that, there isn’t much for this market to do because the oversupply issue continues to be a major problem. The solution is going…

Read More

ISLAMABAD: Amid a growing energy crisis which has forced the country to rely on imported gas, Pakistan may have found one of the largest hydrocarbon reserves, with potential deposits of one trillion cubic feet, in Balochistan’s Margand block owned by Pakistan Petroleum Limited (PPL). PPL, which operates the block with 100% working interest, has already announced a hydrocarbon discovery in its first exploratory well Margand X-1, located in Kalat district, Balochistan. However, PPL – a state-run oil and gas exploration company – has not yet announced the actual size of the…

Read More

Oil prices dipped only slightly after the Energy Information Administration reported a crude inventory build of 3.4 million barrels for the last week of January.PauseUnmuteLoaded: 100.00%Remaining Time -0:40Picture-in-PictureFullscreen This compares with an inventory build of 3.5 million barrels for the previous week and analyst expectations of a 3-million-barrel increase for the week to January 31. In gasoline, the EIA reported an inventory draw of 100,000 barrels for the last week of January. This compared with an increase of 1.2 million barrels for the previous week. Gasoline production in the seven days to January 31 averaged 9.9 million bpd, versus 9.2…

Read More

(PR): Adviser to Prime Minister on Climate Change Malik Amin Aslam has urged the Pakistani companies showing excellence in corporate philanthropy to join hands with the government as partners in the Prime Minister’s Clean and Green Pakistan initiative. He stated this while speaking as being the guest of honour at the 12th Annual CSR Summit and Awards-2020 organized by National Forum for Environment and Health (NFEH). On the occasion, over 60 companies were conferred awards for showing outstanding performance in the arena of Corporate Social Responsibility. Noted singer and Chairman of Pakistan…

Read More

ISLAMABAD, (APP – UrduPoint / Pakistan Point News – 6th Feb, 2020 ) :The overall production of petroleum commodities witnessed a decrease of 12.19 per cent during first five months of the current fiscal year (July-November) as compared to corresponding period of 2018-19. The petroleum products that showed negative growth included Jet Fuel Oil, the production of which decreased by 4.12 percent during the period under review, according to the data placed on official website of Pakistan Bureau of Statistics. Similarly, the production of Kerosene Oil, Motor Spirit Oil, High Speed Diesel, Furnace Oil, Lubricating Oil, Jute…

Read More