EU’s Green Bond Debut Comes Out Swinging

The European Union’s green bond debut was a great hit, drawing record demand, according to Bloomberg. The EU received orders worth 135 billion euros on Tuesday, ultimately selling $13.9 billion in securities that will mature in 2037. It outshone the U.K.’s green bond debut from September. The green bond was just the first batch of 250-billion-euros in green bond sales set to take place in the next couple of years. But the next batch may not go on sale until sometime next year. Green bonds are poised to play an…

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China Crude Oil Imports Decline Between January And September

Crude oil imports into China fell by 6.8 percent over the first nine months of the year, to 387 million tons, according to customs data cited by Reuters. Natural gas imports, on the other hand, jumped by more than 22 percent over the period, to 89.85 million tons, the data also showed. In September alone, crude oil imports fell by more than 15 percent from a year ago. Gas imports went up to the highest since the start of the year at 10.62 million tons, Reuters also reported, citing the…

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Major Mexican Refinery Has Been Shut For Weeks And The Media Only Just Found Out

One of Mexico’s largest oil refineries has been shuttered for weeks—only we are just now finding out about it. And oil products are now building up at the site. Mexico’s Tula oil refinery has been closed since late September, Reuters sources close to operations reported on Tuesday, as teachers protesting delayed salary and pension payments went on strike and blocked roads that the refinery uses to transport the refinery’s product—including fuel for Mexico City—away from the facility. Tula, located 90 kilometers from Mexico City, has a capacity of 315,000 bpd,…

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Beijing To Allow Free Market Forces To Dictate Coal Power Prices

Beijing said on Tuesday it would allow price fluctuations of power derived from coal-fired plants to improve the country’s power market as shortfalls in power generation have sparked an energy crisis. According to a notice from National Development and Reform Commission (NDRC), electricity prices generated by coal-fired plants will be permitted to rise and fall by 20%. That compares with the prior upside limit of 10% and the lower limit of 15%. The reform would take effect from Oct. 15 NDRC requested provincial governments to require industrial and commercial users…

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U.S. Oil And Gas Dealmaking Slows Down In Q3

Mergers and acquisitions in the oil and gas space in the U.S. declined in the third quarter after hitting a two-year high in the second quarter, according to data analytics firm Enverus. Enverus analysts said that the total value of M&A deals during the third quarter was 44 percent lower than the total value of second-quarter deals. However, it was still higher than the five-year average for the third quarter, at $18.5 billion versus $16 billion, excluding the Occidental/Anadarko tie-up. The biggest deal during the last quarter was Conoco’s purchase…

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Senate Body Briefed On Gas Shortages, Remedial Measures

The Ministry of Energy Tuesday gave a detailed briefing to the Senate’s Standing Committee on Petroleum about the situation of gas supply especially during the peak winter season, shortages of the commodity and the measures taken by the authorities concerned to tackle the gas demand-supply gapISLAMABAD, (UrduPoint / Pakistan Point News – 12th Oct, 2021 ) :The Ministry of Energy Tuesday gave a detailed briefing to the Senate’s Standing Committee on Petroleum about the situation of gas supply especially during the peak winter season, shortages of the commodity and the…

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Dec, Jan: Global Traders Show no Interest in LNG Supply

Global RLNG traders have shown no interest in supply of liquefied natural gas (LNG) for December and January 2022 due to delay in inviting tenders, Ghiyas Abdullah Paracha, CEO of Universal Gas Distribution Company (UGDC) and Central leader of All Pakistan Compressed Natural Gas Association (APCNGA) told Business Recorder. Pakistan LNG Ltd (PLL) did not receive any offers in a tender seeking eight spot cargoes for delivery over December to January. Pakistan LNG had issued the latest buy tender in September with offers due by October 11 and to remain valid…

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Govt agrees to pass withheld power tariff raise on to consumers

The government has reportedly agreed to pass the withheld determined power tariff increase of Rs 1.39 per unit to consumers in phases, well informed sources told Business Recorder. This understanding has reportedly been reached between Pakistani authorities, International Monetary Fund (IMF), World Bank and Asian Development Bank (ADB). The sources said Finance Minister Shaukat Tarin, who is reaching Washington for talks with IMF will be carrying the message that the government will raise tariffs. Previously, Prime Minister Imran Khan and Tarin openly opposed any increase in base tariff as according to…

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Pakistan Struggles To Find LNG Amid Gas Crisis

Pakistan is looking to buy liquefied natural gas (LNG) for the winter, but it couldn’t find any sellers in a recent tender, which highlights the fact that the natural gas market in Asia is tight. Pakistan has issued a tender seeking eight LNG cargoes for delivery in December and January, but has not received any bids, according to a document from Pakistan LNG. Industry sources told Reuters that the main driver behind the lack of offers was the long validity period of the offers, 15 days, considering the volatile prices…

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Court seeks NAB’s comments in plea seeking dismissal of LNG reference

An Accountability Court (AC) on Tuesday sought comments from National Accountability Bureau (NAB) in a petition of co-accused seeking dismissal of LNG reference under new NAB Ordinance. However, former prime minister Shahid Khaqan Abbasi and ex-finance minister Miftah Ismail didn’t become part of the petition. AC-II Judge Muhammad Azam Khan heard the reference filed by NAB against the above accused. At the outset of hearing, the defence lawyer produced the copy of NAB Ordinance before court and prayed it to dismiss the reference under new law. Barrister Qasim said they…

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