Day: October 19, 2021

he ongoing energy crunch has put a lid on what seemed to be the ideal bull run for this year’s autumn season – OPEC+ has maintained rigorous discipline even after it concluded a new supply cut agreement until end-2022, whilst demand for energy was growing much more robustly than anyone anticipated. Power consumption mandates, production cuts and electricity shortages have, however, become the new reality of October 2021, reshaping the overall market fundamentals of crude. Chinese buying, always presumed to restart at some point later this year, is now off…

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Modelling shows the future of fossil fuel exports that drive regional economies is grim, complicating the Prime Minister’s message to the Nationals that regional Australia will be shielded from losses under his push to commit to net zero emissions by 2050. The Reserve Bank of Australia’s recent analysis of coal and gas exports shows the industries would at least halve if major customers China, Japan and South Korea met their climate commitments. The Nationals are baulking at endorsing the 2050 target, which Prime Minister Scott Morrison is aiming to commit…

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We expect 22% more U.S. coal-fired generation in 2021 than in 2020, according to our latest Short-Term Energy Outlook (STEO). The U.S. electric power sector has been generating more electricity from coal-fired power plants this year as a result of significantly higher natural gas prices and relatively stable coal prices. This year, 2021, will yield the first year-over-year increase in coal generation in the United States since 2014. Coal and natural gas have been the two largest sources of electricity generation in the United States. In many areas of the…

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Overall production of petroleum commodities has witnessed an increase of 2.35 percent during the first two months of current financial year 2021-22 as compared to corresponding period of fiscal year 2020-21. The Petroleum, Oil and Lubricants (POL) products that showed positive growth include Jet Fuel Oil the production of which increased by 14.40 percent during the period under review, Pakistan Bureau of Statistics (PBS) reported. Similarly, the production of Motor Spirits, Lubricating Oil, Solvant Naptha, Liquefied Petroleum Gas (LPG) and other petroleum products witnessing increase of 7.48 percent, 168.36 percent,…

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Auditor General of Pakistan (AGP) has yet to get access to core record of regulatory bodies despite directive of the Public Accounts Committee (PAC) that all government organisations are subject of audit under the Constitution. The AGP has mandate to complete audit of the regulators. The audit officials will not only audit the expenditures of the regulatory authorities but also their performance and other matters. The regulatory authorities refused to give access to the AGP to their accounts on the pretext that no allocation in the budget is made for…

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