Natural gas markets have pulled a little bit higher during the trading session on Wednesday to reach towards the $5.65 level. This is a market that I think continues to see a lot of noisy behavior, but it is bullish in general. The 50 day EMA sits at the $5.21 level and offers significant support multiple times in the past…
Read More
The petroleum dealers association on Wednesday withdraw their protest strike call after a government team agreed to increase their margins on sale of petroleum products by 6 per cent within a few days. The association had given a countrywide strike call for November 5 against inability of the government to increase their margins for two years. They met the government…
Read More
More than 40 countries have agreed to phase out their use of coal-fired power, the dirtiest fuel source, in a boost to UK hopes of a deal to “keep 1.5C alive”, from the Cop26 climate summit. Major coal-using countries, including Canada, Poland, South Korea, Ukraine, Indonesia and Vietnam, will phase out their use of coal for electricity generation, with the…
Read More
China thermal coal futures rebounded nearly 9% on Wednesday after falling for 10 straight days, as the government indicated to pace down price intervention at a meeting earlier in the day, traders said. Traders took cue from a meeting earlier on Wednesday as the country’s top economic planner, the National Development and Reform Commission, told miners and power plants at…
Read More
Major coal-using countries including Poland, Vietnam and Chile are among those to make the commitment. But some of the world’s biggest coal-dependent countries, including China and the US, did not sign up. In a separate commitment, 20 countries, including the US, pledged to end public financing for “unabated” fossil fuel projects abroad by the end of 2022. Such projects burn…
Read More
The utility is interested in short- and medium-term supply deals, in addition to the long-term contracts for LNG volumes it currently has with producers in six countries, including the US, Atsunori Takeuchi, senior general manger of LNG optimization and trading, said in a video address to the World LNG & Gas Series Americas Summit & Exhibition in Lake Charles. Tokyo…
Read More
Sindh Minister for Energy Imtiaz Shaikh on Tuesday said that gas crisis in the country has intensified, while the federal government has no capacity to import RLNG to mitigate the forthcoming challenges. Addressing a press conference at Sindh Assembly, he said that federal government is not capable to do anything good for the people. The country is bound to face…
Read More
Sindh Governor Imran Ismail along with United States Consul General, Mark Stroh on Wednesday inaugurated the 220 kV grid station Jhimpir-I. This investment from the United States would add 780 megawatts (MW) clean energy generated by wind power plants to the national grid of Pakistan, he said. The Governor Sindh, while appreciating the cooperation and financial support extended by USAID…
Read More
In a new development, the government-owned company Pakistan LNG Limited (PLL) has again asked the private sector to import LNG for December, January and February amid high spot prices by using its unutilized re-gasification capacity in the range of 240-385 confirming the bitter fact that the country is going to have a massive shortfall of gas. This is the second…
Read More
Prime Minister Imran Khan on Wednesday announced a Rs120 billion relief package providing subsidy on essential food items but warned people of another increase in petroleum prices in the near future. In an address to the nation, the prime minister promised to reduce prices of food items by 50 per cent if the opposition leaders’ families brought back even half…
Read More
