Day: December 13, 2020

Iran Expects To Sell 2.3 Million Bpd In 2021

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Iranian authorities seem confident they could be able to sell as much as 2.3 million barrels per day (bpd) of oil in the next Iranian year that begins in March 2021, according to Iran’s budget bill. The bill, which has been recently submitted for discussion and approval at the Iranian Parliament, assumes that Iran will get revenues from the sale of 2.3 million bpd of oil in the year starting in March. Iran last exported that much oil in the early spring of 2018, before U.S. President Donald Trump pulled…

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China Looks To Boost Shale Gas Development

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China is looking to attract investments in shale gas developments by easing restrictions on foreign entities and subsidizing costs in a bid to boost its natural gas production while its demand continues to grow. China has shale gas reserves but the geology to extract those resources is challenging, so it is not clear if the incentives will attract major international oil companies, Argus reports. The province of Guizhou has recently offered six exploration blocks for shale gas reserves, but the bids were much lower than those offered in a similar…

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Solar Energy Boom Fuels Demand For Silver

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Saxo Bank projects silver will soar to a record $50 an ounce in 2021, powered by loose Federal Reserve monetary policy and a weak dollar, and turbocharged by surging demand for the white metal in the solar energy sector. According to the Saxo Bank report, the “usual suspects” will continue to power silver upward, referring to the extraordinary monetary policy we’ve seen in response to the coronavirus pandemic in 2020. Saxo analysts expect the US dollar to continue to weaken even as the pandemic eases with the rollout of a vaccine next year. The…

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This Cold Winter

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There is a very real danger that the coming winter months in Pakistan, and particularly in the north of the country, will be particularly cold ones with an insufficient supply of gas. This is chiefly because Pakistan LNG Limited failed to place tenders for gas supply in time to the international market. It is also now being forced to obtain LNG at far higher prices than would have been the case had it purchased this vital commodity in summer, when prices had fallen, and were at a far lower rate…

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Govt conducting highest external debt repayment, servicing: Hammad

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ISLAMABAD: Federal Minister for Industries and Production Hammad Azhar on Saturday underscored that the PTI government paid $10.4 billion on account of debt servicing of external public loans including principal payment of $8.5 billion and $1.9 billion in interest payments. The minister was responding to the reportage of the Annual Report on Foreign Economic Assistant (FEA) for FY19-20 which highlighted Pakistan’s increased reliance on foreign commercial loans. The country recorded total external loan inflows worth $10.7 billion in the year ended June 30, 2020. Additionally, the government raised $3.4 billion…

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