Month: October 2021

As the United States slowly begins to recover from the economic low-point of the pandemic, some states are getting left behind. Jobs numbers are creeping up around the country, but five states — Alaska, Hawaii, Wyoming, New Mexico and Louisiana have not yet recovered more than half of the jobs lost over the course of the pandemic according to a recent report from Fitch Ratings based on data gathered in August. Notably, of these five states, Hawaii is the only one that doesn’t count oil and gas as a key…

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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 distribution companies and some factories in the past few days,” said a trader with a state-owned LNG supplier. These buyers emerged to further replenish their inventory on fears that a…

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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 minister on Finance are now discovering. The talks on the revival of the Fund’s three-year old $6 billion dollar bailout package are moving at a snail’s pace even though neither…

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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 hikes “jeopardised the integrity of the European energy market,” the chair of the meeting, Slovenian infrastructure minister Jernej Vrtovec, told a press conference. But they agreed “we should not rush…

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