From December 16, the government may lower the price of petrol by Rs11 a litre, according to reports. According to industry insiders, the price of diesel is projected to drop by Rs9 per litre, and the government will finalise petroleum product prices after either hiking or lowering tax rates. The revised prices of petroleum products will come into effect from…
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The United States and Qatar have assured Turkey that Exxon Mobil (XOM.N) and Qatar Petroleum [RIC:RIC:QATPE.UL] will stay out of Turkey’s continental shelf in the eastern Mediterranean, Foreign Minister Mevlut Cavusoglu said on Monday, after the companies were given an energy exploration license in disputed waters. Earlier this month, Ankara accused Cyprus of violating its continental shelf by awarding the…
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he European Commission is set to propose a system this week to allow European Union countries to voluntarily jointly buy gas to form strategic reserves of fuel, a reform made in response to soaring energy prices, according to a document shared with countries ahead of a summit this week. European gas prices surged to record highs in October amid tight supplies and…
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Although state-owned gas utilities have been implementing the winter gas load management plan, the government may re-adjust gas supply to export-oriented captive power plants (CPPs) as it scrambles to deal with the gas crisis in the country, Profit learnt on Monday. In this regard, sources in the textile sector said that the government will most likely cut off gas supply to export-oriented CPPs…
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US natural gas futures rose almost 4% to a fresh one-week high on Monday on forecasts for colder weather and higher demand next week than previously expected and an 11% jump in European gas prices that should keep US liquefied natural gas (LNG) exports near record highs. Gas prices in Europe soared to their highest since hitting a record in…
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The annual gas crisis in the country makes many in the country wish that winters are either minimal or non-existent because having hot food, taking a warm shower, or keeping oneself cozy become luxuries. While some can comfortably switch to alternatives like liquefied petroleum gas (LPG) cylinders, wood, or coal, in the colder months, for the average person these are…
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Noreen Fatima, a housewife, said “Every time when we approach LPG dealers they inform us about new prices. When we make argument then they suggest us to contact any other dealer.” “We bought LPG at Rs250 per kilogramme last time and now they are charging Rs265 for one kilogramme to cash in on the miseries of the people,” she said.…
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Egypt’s long-suffering LNG industry is finally experiencing some success as it takes advantage of European gas market constraints and exploits regional geopolitical developments. Cairo’s dream of becoming a global LNG player was derailed by a combination of the Arab Spring, conflict with Turkey, and then COVID demand destruction. Now, however, the country’s LNG industry is poised for major growth, with…
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Information Minister Fawad Chaudhry on Tuesday warned of an impending gas crisis in the country, saying the resource was depleting fast and “Pakistan will have no gas in years to come.” Addressing a post-cabinet meeting press conference, the minister raised alarm over gas going scarce in the country and said it was depleting by 9 per cent every year for…
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The highly coveted and most prestigious forum for the energy sector across the globe, S&P Global Platts Energy Awards announced K-Electric as the winner for its Roshni Baji Women Ambassador Program under the Corporate Social Responsibility – Diversified Program Category. Often described as the “Oscars” of Energy, the 23rd Annual Awards program was held at the Cipriani Wall Street in…
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