Day: October 26, 2021

Despite the perception that fossil fuels are directly at odds with clean energy development, oil and gas companies have a prominent role to play within the energy transition. In fact, oil and gas majors are some of the few companies that possess the financial resources, skill sets and innovation to transform present-day energy and economic systems, and as a result, should be viewed as part of the solution when it comes to decarbonizing energy and non-energy industries alike. First, oil and gas companies are diversifying and reorienting their business models…

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Demand for liquefied natural gas (LNG) is expected to rise by 25 to 50 percent by 2030, making it the fastest growing hydrocarbon over the next decade, analysts from Morgan Stanley Research said in a note on Monday. Morgan Stanley has raised its long-term LNG price outlook to $10 per million British thermal units (mmBtu), expecting spot prices of the super-chilled fuel to average 40% higher over the next decade, versus the past five years. Asian spot LNG prices hit a record above $56 mmBtu earlier this month as surging demand ahead…

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The Ministry of Finance continues to keep mum about the outcome of its long negotiations with the International Monetary Fund (IMF) for the revival of its $6 billion Extended Fund Facility (EFF) as authorities reported to have received about $3.2bn in foreign assistance in the first quarter of the current fiscal year. Informed sources said the extended talks between the two sides lasting almost three weeks remained tense in Washington and authorities were given tough targets to complete before a memorandum of economic and financial policies (MEFP) could be finalised.…

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With only a few days left until the 26th UN Climate Change Conference (COP26), 197 world leaders, along with tens of thousands of negotiators, government representatives, businesses, and citizens, are gearing up to participate in the 13 days of talks that will accelerate climate action and give the world a chance to limit the rise in global temperature to 1.5 C. Marking the beginning of a ‘decade of action’, COP26 will be shaped by major political dynamics and developments, with China’s pledge to become carbon-neutral before 2060 at the forefront.…

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