Month: April 2020

Lower long-term LNG prices could encourage coal-to-gas switching in Northeast Asia, while Chinese LNG demand is also expected to expand this year, albeit at a slower rate, as China gets back to work.  Asia Pacific gas demand was already under pressure as the coronavirus hit consumption in China and continued downside is likely as the world struggles to contain the virus. Still, low oil prices are a mixed blessing for LNG markets. “Sustained lower oil prices will bring down LNG contract prices in Asia, which have been at a premium…

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The Board of Directors (BoD) of K-Electric (KE) Limited in its meeting held on April, 09, 2020 at the KE Head Office, approved the Company’s financial results for the year ended June 30, 2019. During the reporting period, around PKR 40 billion was invested across the Company’s power value chain. KE remains committed to making further investments across the power value chain despite mounting challenges such as growing government receivables as well as the economic slowdown because of the COVID-19 outbreak. The KE Board, while appreciating improvements in certain key…

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CAIRO: United Arab Emirates’ energy minister Suhail Al Mazrouei said on Saturday that an OPEC+ decision to cut oil supply will have a major impact on rebalancing the oil market amid the coronavirus outbreak. “The group’s decision to cut supply will be the largest ever cut in the history which will help balancing the oil supply and demand,” Al Mazrouei said on Twitter. The minister thanked Saudi Arabia, which had called for the meeting, during which OPEC led by Saudi Arabia and its allies led by Russia, which together makes up…

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IYADH, (UrduPoint / Pakistan Point News / WAM – 11th Apr, 2020) His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister and Minister of Defense of Saudi Arabia, received today a telephone call from President Vladimir Putin of Russia, SPA reported. During the phone conversation, they reviewed the efforts being exerted to stabilise and maintain energy markets to support the growth of the global economy. They also stressed the importance of the cooperation of all producing countries in this regard.

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ISLAMABAD, Apr 11 (APP):The Sui Northern Gas Pipelines Limited (SNGPL) has allocated an amount of Rs 38 million to support the government efforts to contain the spread of novel coronavirus (COVID-19) that took thousands of lives across the world in just few months. The SNGPL Board has directed the company to deposit Rs19 million in the Prime Minister’s Relief Fund, and committed Rs 19 million to National Disaster Management Authority (NDMA) for the procurement of medical supplies to fight the virus, said a press release of Petroleum Division. The Petroleum…

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