Year: 2020

ISLAMABAD: Amid demand by gas utilities for increase in their prescribed price and meter rent by up to 123 per cent and 100pc, respectively, the Oil & Gas Regulatory Authority (Ogra) has decided to have testing of gas meters by independent third party, instead of gas companies themselves. The Ogra would be taking up on Monday (today) at a public hearing the petition filed by Sui Southern Gas Company (SSGCL) for Rs79 per million British Thermal Unit (MMBTU) or about 11pc increase in its prescribed price to meet its estimated…

Read More

China’s oil giants China National Petroleum Corp. and CNOOC Ltd. are considering acquiring Exxon Mobil Corp.’s remaining stake in an oil field in Iraq, which could fetch at least $500 million, according to people familiar with the matter. A deal would mark Exxon’s exit from the project and a further retreat from Iraq by international oil majors, following Royal Dutch Shell Plc’s departure from the giant Majnoon field three years ago. Tough contractual terms, payment delays and political instability have dulled the appeal of what had once been the Middle…

Read More

The world’s biggest container carrier saw profits soar 83% in the third quarter on recovering volumes, rising freight rates Danish shipping and logistics giant A.P. Moeller-Maersk A/S expects that the global container market could expand by up to 5% in 2021 in a rebound from the pandemic-driven hit to trade in the first half of this year. The parent of Maersk Line, the world’s largest container line by capacity, said Wednesday that trade volumes are growing again this fall as retailers and manufacturers restock depleted inventories and consumers who were hunkered down…

Read More