Day: October 3, 2021

Asia’s high-sulphur fuel oil (HSFO) market dipped on Friday, with cash premiums and front-month time spreads edging lower. However, tight supplies and strength in the gas market continues to be supportive for utility-grade HSFO, industry sources said. “Spot Asian LNG is trading at an oil equivalent of around $177 a barrel and so there is a clear incentive for gas-to-oil switching,” said ING Economics in a note on Friday. “This switching is something that we are already seeing in the power generation sector, particularly in markets such as Pakistan and…

Pakistan and Denmark officials agreed to strengthen bilateral cooperation in the renewable energy sector and green transition. Denmark’s foreign minister Jeppe Kofod discussed the ongoing cooperation in green energy as well as strengthening trade and investment ties during his visit to Pakistan. Pakistan’s foreign minister Shah Mahmood Qureshi and Denmark’s foreign minister Jeppe Kofod agreed to strengthen bilateral cooperation in areas such as climate change, green transition, and sustainable trade. Denmark and Pakistan have various shared interests, including on trade, the green agenda, and regional stability, the officials said. Qureshi…

With winter outlook growing gloomier and gloomier for the natural gas consumers amid high prices and low supply, transporters are also seeing long bumpy roads ahead even in the months of autumn. This is what the rising trend in the prices of Compressed Natural Gas (CNG) in the last month is something to go by regarding upcoming chilly, dark, and motionless nights of winter months. Since September 02, 2021, the average price of CNG has been increased by Rs19 per liter or about 18 percent to Rs127.27 per liter in…