Unfortunately, gas is only available to most households three times a day. As if this wasn’t bad enough, many people have installed gas compressors at their homes which leads to reduced pressure of gas supply to others in the area. In my locality, for instance, two houses use these compressors. As a result, the rest of the houses on the…
Read More
Stocks of petrol have surged to historic levels that can meet 26 days of consumption demand in the country, which comes at a time when refineries have warned of imminent shutdown following refusal of power plants to procure furnace oil. According to officials, at present the country has petrol stocks of 600,000 tons as demand has remained lower than forecasts.…
Read More
A severe petrol as well as diesel shortfall looms larger than ever as refineries are on the verge of closing/cutting crude oil processing because of a massive slump in the offtake of furnace oil (FO) by oil marketers and power plants, their representative body said on Tuesday. Given no improvement in the situation, Oil Companies Advisory Council (OCAC), through latest…
Read More
Oil and gas investment declined in 2020 and 2021 because of the pandemic, which is a “recipe for more volatility,” Joseph McMonigle, secretary-general for the International Energy Forum, said on a panel at the World Petroleum Congress. “Capex cuts by international oil companies and national oil companies in 2020 was about 35%,” he said. “We’re now showing another 23% reduction…
Read More
Asia liquefied natural gas (LNG) prices fell this week as spot demand from China remained muted despite the start of winter and as natural gas supplies from Russia continued to flow steadily to Germany. But the drop in prices was kept in check by outages in Australia which curbed cargo loadings, trade sources said. The average LNG price for January…
Read More
Now that aggressive foreign policy toward China has attracted bipartisan consensus, evidenced by the fact that President Biden has opted to keep certain tariffs imposed by the Trump Administration in place, Beijing is looking for new ways to squeeze Washington. For years now, we have been warning about the risk of China cutting off supplies of 17 rare earth metals…
Read More
The Federal Cabinet has directed Petroleum Division to prepare short, medium and long-term plans to face the looming challenge of depleting gas reserves and re-check to ascertain gas reserves depletion rate so as to determine how much of it was due to theft, collusion and distribution losses, well informed sources told Business Recorder. These directions were issued at a meeting of…
Read More
The Sindh government and the International Finance Corporation (IFC), a member of the World Bank Group, signed a landmark agreement on Tuesday at the CM House to help the provincial government to structure a public-private partnership project that would provide clean drinking water to nearly one million people of Karachi. The signing ceremony was held here under the chairmanship of…
Read More
The Aptma chairman also urged upon the provincial government to take up the matter with the federal government, enabling the export-oriented industry located in Punjab to compete with the similar units elsewhere in the country, as well as export originating from other regional competitors. The Aptma delegation apprised the minister about the problems being faced by the exporters due to…
Read More
Aggressive buying at available attractive low levels in all sectors Tuesday supported the Pakistan Stock Exchange to close on strong positive note with healthy gains. The benchmark KSE-100 Index surged by 572.72 points or 1.32 percent to close at 43,853.49 points. Trading activity also improved as daily volumes on the ready counter increased to 229.378 million shares as compared to…
Read More
