Day: December 9, 2021

Steel bar makers have further increased the prices by Rs2,000 per tonne citing persistent rupee devaluation, rising costs of energy and inputs and supply chain disruptions. As per letters issued by various steel bar makers to the construction sector, Amreli Steels Ltd said effective Dec 7 the new ex-factory booking rates of (9.5/10mm and 12mm) are Rs197,500 per tonne and 16mm and above sizes at Rs195,000 per tonne (deform and extreme rebars). Naveena Steel Mills has quoted Rs194,500 for 16-32mm and Rs196,500 per tonne for 10-12mm sizes respectively for the…

Cnergyico PK Ltd, formerly Byco Petroleum Pakistan Limited, has engaged potential buyers including oil giant Exxon to export furnace oil (FO), which is currently overflowing from its storage facilities as local demand has dried up, The News has learnt. The company earlier failed to broker a deal for the export after it received a bidding at a huge discount, sources in the oil sector confided to The News. Cnergyico is in talks with the international buyers to export huge stocks of furnace oil, which built up after local Independent Power…

Minister for Energy Hammad Azhar on Wednesday said power sector has more LNG available for it than it was drawing as per merit order. “Fertilizer plants that are normally shut due to non-supply during winters enjoying uninterrupted supply this year. Export sector is also getting stable supply,” he tweeted. He said domestic consumers that received gas from mostly local gas reserves have faced pressure problems in winters since last many years. The government has announced the Winter Electricity package for them in order to incentivise them to shift to electrical…