5 of the Biggest Risks Faced by Oil and Gas Companies

Whenever an investor approaches a new industry, it is good to know what the risks are that a company in that sector must face to be successful. General risks apply to every stock, such as management risk, but there are also more concentrated risks that affect that specific industry. In this article, we’ll look at the biggest risks faced by oil and gas companies. Political Risk The primary way that politics can affect oil is in the regulatory sense, but it’s not necessarily the only way. Typically, an oil and gas company is…

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Government of Pakistan Ministry of Energy (Petroleum Division) Rejoinder

This is in reference to analysis by Dr. Farrukh Saleem on petrol prices in Pakistan through his vlog on social media which states that the prices of petrol have gone up only 17 percent internationally in the last one month. The contents are misleading and ignore the 30-45 days pricing cycle used in Pakistan as per regulation. The base price of Petrol in Pakistan is fixed on the basis of PSO’s actual imports, which are linked with international Arab Gulf Platts. All cargoes imported since the last cargo used in…

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Police ordered to submit response on Cynthia Ritchie’s application by July 9

A local court in Islamabad on Saturday directed the capital police to submit its response by July 9 on US blogger Cynthia D Ritchie’s application for registration of first information report (FIR) against former interior minister Rehman Malik over rape and harassment allegations. The US blogger on Tuesday had submitted her application to an additional district and sessions judge under Section 22-A of the Criminal Procedure Code. Separately, the capital police in its report submitted in Islamabad High Court on Saturday said that allegations against Malik are “suspicious, unsubstantiated and…

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Facing a boycott by advertisers, Facebook to ban more ‘hateful content’ in ads

Facebook said Friday it would ban a “wider category of hateful content” in ads as the embattled social media giant moved to respond to growing protests over its handling of inflammatory posts. Chief executive Mark Zuckerberg said Facebook also would add tags to posts that are “newsworthy” but violate platform rules following the lead of Twitter, which has used such labels on tweets from President Donald Trump. The initiative comes with the leading social network facing a growing boycott by advertisers — with soft drink behemoth Coca-Cola and Anglo-Dutch giant Unilever joining Friday…

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PIA moves to assuage concern over ‘dubious’ pilot licences

Pakistan International Airlines has written to foreign missions and global regulatory and safety bodies, assuring them it has grounded all 141 pilots suspected of obtaining licenses through unfair means, the carrier’s spokesman said on Saturday. The move looks to assuage safety concerns after Aviation Minister Ghulam Sarwar Khan said on Friday that the government had asked various commercial airlines, flying clubs and charter companies to ground a total of 262 pilots until investigations into their qualifications are completed. The action was prompted by a preliminary report on the crash of a PIA aircraft in…

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Capacity payments projected at Rs1.5tr

The annual capacity payment for not utilising surplus power plants is projected to soar to an unsustainable level of Rs1.5 trillion over the next two years as Pakistan continues to add more dirty and expensive capacity, mostly under the Thar coal and CPEC projects. “Capacity payment to power generators can reach to an unsustainable level of Rs1.5 trillion ($9 billion) over the next two years,” Australia-based Institute for Energy Economics and Financial Analysis official Simon Nicholas said at the launch of a study titled “Thar Coal: Locking Pakistan into Unsustainable…

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The Country That Won The Oil War

China is now holding most of the cards in the oil price game as far as Riyadh and Moscow are concerned–and Beijing is right where it wants to be. The other two have overplayed their hands. And the U.S. has–once again–been caught napping. There’s a ton of geopolitical leverage to be had for China. The king of ‘soft power’, can simply turn the import taps off to make things extremely uncomfortable for Saudi Arabia and Russia, both vying for China oil sales and both with budgets that depend upon this…

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New Coal Power Plants Are Increasing Pakistan’s Circular Debt: IEEFA Report

According to a report by the Institute of Energy Economics and Financial Analysis (IEEFA), Pakistan is faced with the increasing financial burden of power capacity payments and overcapacity risk at a time when renewables are the cheapest source of energy available. Even before the COVID-19 pandemic, Pakistan’s electricity demand was decreasing. Two more Chinese-financed coal-fired plants have reached financial close so far in 2020, with more in more in the pipeline intended to meet the overestimated demand growth projections.Report author Simon Nicholas at the IEEFA says the government needs to…

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Nepra decides to ‘expose’ certain Discos

ISLAMABAD: The National Electric Power Regulatory (Nepra) has decided to expose all those power Distribution Companies (Discos) which are unleashing load shedding despite receiving due allocated quota of electricity. On Friday, the regulator took serious notice of various media reports regarding unscheduled load shedding of up to 12 hours by all the Discos, due to which the public is suffering heavily in this current wave of heat, especially in the areas under lockdown due to COVID-19. According to Nepra, Discos under the relevant provisions of their licences are obligated to…

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Pakistan’s Energas to Start LNG Imports

Pakistan’s Energas is set to start LNG import from July 2020. In an interview with Bloomberg, Energas CEO Anser Ahmed Khan revealed that the group is in talks with the government for a marketing license in order to start the import of LNG in July. According to available details, Energas wants to use Pakistan government’s idle capacity until the construction of its LNG terminal, which is supported by Exxon Mobil. The government has underutilized the second LNG terminal by 70% in the past three months due to lower demand but…

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