Day: March 4, 2020

Singapore — The sharp fall in spot LNG prices to record lows is forcing Pakistan to weigh options on whether to cancel or renegotiate term deals, with policymakers and industry officials saying that entirely backing out of contracts may provide short-term gains but will bring pain in the longer term. Although oil-linked deals in a low-priced environment is forcing Pakistan to pay more than levels at which it can currently source cargoes from the spot market, the country’s fast-growing LNG consumption means Pakistan has to work toward strengthening relations with…

Read More

PARIS: Pakistan is ranked among three worst-affected Asian countries by a ‘pandemic’ of air pollution that shortened lives, according to a news research published in the journal Cardiovascular Research on Tuesday. Scientists warned that air pollution shortened lives worldwide by nearly three years on average, and causes 8.8 million premature deaths annually. They added that the worst-hit region is Asia, where average lifespan is cut 4.1 years in China, 3.9 years in India, and 3.8 years in Pakistan. Eliminating the toxic cocktail of molecules and lung-clogging particles cast off by burning…

Read More

In the last one year, the federal government has been pushing up petroleum prices almost every month, making life difficult for commuters. But there was a valid reason to do so. The price of oil, internationally, was just as eye-watering. As global oil production nosedived in 2019, its wholesale cost shot up. The Organisation of Petroleum Exporting Countries (OPEC) and its allies began cutting oil output to boost up prices. Then, there were the US sanctions on Iran and Venezuela and the unrest in Libya. However, since mid-February, global oil…

Read More