China Trucked LNG Prices Breach Yuan 7,000/mt on High Import Costs, Bullish Sentiment

China’s trucked LNG prices have surged to more than Yuan 7,000/mt ($1,093/mt) — a record high in the non-heating season — driven by expectations of a colder-than-usual winter, higher import costs, early onset of colder temperatures and a typhoon disruption in the south, according to trade sources. We saw significant demand growth from midstream and downstream buyers, mainly city gas…

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Extended loan facility: Why the IMF is driving a hard bargain with Pakistan

Pakistan’s talks with the International Monetary Fund have never been an easy proposition. Throughout history whenever the country contacted the international lender, the negotiations proved to be tough. It is no different this time either. This is what the high-level delegation from Pakistan including the secretary finance, the governor of the state bank of Pakistan and adviser to the prime…

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EU Avoiding ‘rash Decisions’ On Energy Price Rises

The impact of surging gas and electricity prices globally threatens the EU’s energy market, but the bloc will not react hastily, officials said on Tuesday. An emergency meeting of EU ministers in Luxembourg to discuss the issue largely backed 11 member countries in rejecting proposals from Spain and France for deep-rooted reforms to the market. The ministers recognised the price…

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PPL Approves 20 Per Cent Cash Dividend

The Pakistan Petroleum Limited (PPL) earned a profit-after-tax of Rs52.4 billion, the second highest for the company.The company also announced a final cash dividend of 20 per cent on ordinary and 15 per cent on convertible preference shares. This was announced in the 70th annual general meeting of the Pakistan Petroleum Limited (PPL), held online on October 25.The members approved…

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Research Explores how to Turn Copper Waste into Cobalt

The Queensland Government has partnered with Japan Oil, Gas and Metals National Corporation (JOGMEC) and the University of Queensland to study leftover cobalt in copper mine tailings. The three-year study will take samples from Copper Resources Australia’s Rocklands copper mine in northwest Queensland. Queensland Resources Minister Scott Stewart said this study could change the face of sustainable copper mining. “This…

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IGCEP NTDC excludes 40 Hydropower Projects of KP

Contrary to the prime minister’s vision, the National Transmission and Despatch Company (NTDC) has excluded at least 40 hydropower projects of Khyber Pakhtunkhwa having a cumulative capacity of 3,150MW from the Indicative Generation Capacity Expansion Plan (IGCEP). However, only 10 projects of 788MW were included in the IGCEP, with a pretext that hydropower projects are costly. This would result in…

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PRL, NRL & BYCO Refute Allegation of High Carbon Footprint, Rally Against Proposed Shutdown

Three local oil refineries – Pakistan Refinery Limited (PRL), National Refinery Limited (NRL) and BYCO Petroleum Pakistan Limited – have raised their voices against the allegation of being responsible for producing a high level of carbon emission leveled by a member of the Energy Export Group of the Economic Advisory Council (EAC). Responding to a letter from the DG Oil…

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Hammad For Ending Reliance On Costly Imported Fuels, Promoting Clean, Green Hydro Energy

Minister of Energy Hammad Azhar while underscoring the importance of hydropower for the development of the country on Wednesday said that it was imperative to end reliance on costly imported fuels and promote clean and green hydro energy.Addressing an inaugural session of 1st International Conference on Pakistan Hydropower Sector organized by Energy Update in collaboration with Private Power Infrastructure Board…

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