Crude oil futures have rallied to their highest finish in months, with WTI price climbing above $65 for the first time in two months after OPEC+ stuck with plans to gradually ease production curbs, signaling confidence in the demand outlook. The optimism has coincided with a breakout season for the S&P 500, with the Energy Sector (XLE) being particularly impressive. Indeed, the fossil…
Read More
Wherever you are on the planet, the last 12 months have been very difficult.In seeking the strongest economic recovery from the pandemic, it is understandable that many on the centre-right in particular want to focus on boosting existing industries. But when it comes to the energy sources of the future, investing in coal power would be an expensive mistake, not…
Read More
But China’s near monopoly on the materials could be the biggest challenge to Biden’s plans. “China occupies 80% of production, and their internal demands are outstripping their supply,” Defense Metal CEO Craig Taylor told FOX Business on Thursday. “That leaves the West really behind if we don’t get it together and start funding these projects.” China has invested at least…
Read More
The business plan of Engro Elengy Terminal Private Limited (EETPL) to increase its capacity to regasify LNG is in jeopardy as SSGC has opposed it on account of host of reasons, including the NAB’s investigation into the ‘illegal award of contract’ of the LNG terminal-1 to EETPL. Unless and until the NAB clears EETPL from its investigation on illegal award…
Read More
The first 1,000 days of Prime Minister Imran Khan’s government have been eventful. The economy went into a recession last year with the outbreak of the pandemic and continues to suffer from high food prices and a rising cost of living. The new finance minister has been a vocal critic of the government’s handling of the economy and wants to…
Read More
I remember meeting Dr Yasmin Rashid, Punjab Minister of Primary and Secondary Healthcare in March 2020 at the office of Chief Minister Usman Buzdar in Lahore. A big smile on her face, she was talking to different groups of journalists as she walked through the room before the commencement of the Chief Minister-headed meeting on the coronavirus-related SOPs and the…
Read More
The macroeconomic focus is clearly transitioning to growth. To make it sustainable, the energy sector puzzle needs to be resolved. There will be no eureka moment as there are many dimensions. All these are required to be dealt with simultaneously. Power ministry alone cannot achieve all the results. But the role of finance ministry is imperative since most of the…
Read More
The needle finally seems to be moving on the electricity consumption front. Before going all jubilant, mind you, this comes with caveats. First things first, the cumulative power generation of the national grid delivered to the distribution companies has increased by 4.7 percent year-on-year in the 9-month period of the fiscal year so far. What is also encouraging is the…
Read More
Elsewedy Electric, an Egyptian multinational electrical company has entered the Asian market with the acquisition of a Pakistani electric power transformers company. In a statement to the Egyptian Stock Exchange (EGX), Elsewedy informed that it has acquired 100 percent of Validus Engineering PVT LTD, a company that manufactures electric power transformers in Pakistan, reported Daily News Egypt. The multi-billion dollar company…
Read More
ISLAMABAD: Pakistan and Saudi Arabia have agreed to give strategic direction to their ties through the Saudi-Pakistan Supreme Coordination Council (SP-SCC) by strengthening and diversifying existing bilateral cooperation in different fields. For this purpose, the Saudi Development Fund will finance projects worth $500 million, according to the spokesperson for the Ministry of Foreign Affairs. The projects to be launched under…
Read More
