Year: 2021

SC irked by lack of adequate investment in power transmission lines

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The Supreme Court noted that no substantial investment has been made for the improvement of transmission lines and alternative power generation plants. A three-judge bench, headed by Justice Umar Ata Bandial, on Tuesday, heard a review petition of the All Pakistan Textile Mills Association (APTMA). Justice Bandial said there was a need to support the economic activities and that export-oriented units should receive power at subsidised rates, so they could compete in the international market. The bench was informed that pursuant to direction in a judgment passed on 25 September…

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Japan may lose control of its LNG prowess, boosting Asia prices further

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Asia gas prices may be high, but over the years they are poised to go even higher due to two key developments that threaten to change Japan’s role and influence in global liquefied natural gas (LNG) markets, according to the latest analysis from Japan NRG. For decades Japan was the dominant buyer in the LNG market. In the first six months of 2021, however, China’s demand growth made it the world’s top LNG importer, overtaking Japan and South Korea. China’s demand for LNG is expected to keep rising. With China’s…

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Asia LNG spot price surges by 40% to record high

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LNG

SINGAPORE, Oct 6 (Reuters) – Asia liquefied natural gas (LNG) spot prices surged by 40% to a record high of over $56 per million British thermal units (mmBtu) on Wednesday, amid a global energy crunch, low gas inventories and mounting supply concerns. Price agency S&P Global Platts’ Japan-Korea-Marker (JKM), which is widely used as a spot benchmark in the region, climbed to $56.326 per mmBtu on Wednesday for a cargo delivered into North Asia in November, recording the largest single-day price increase of $16.65 from Tuesday, its data showed. This…

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Axens Selected for Byco’s Refinery Upgrading Project Phases I, II & III to Support in Producing Euro V Gasoline and Diesel, Pakistan

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Byco and Axens are pleased to announce that Axens has been selected to support Byco’s Refinery upgrading Project Phases I, II, III with providing advanced technical solutions in order to achieve Euro V gasoline and diesel specifications in Pakistan. The solution consists of a unique integration of three existing units into a Cracked Naphtha Desulfurization unit using best in the business Prime-G+® licensed technology. This technology plays a major role in meeting Euro V specifications with the best octane retention along its selective hydrodesulphurization process. Virgin Mix Distillate Hydrotreater (DHT-2),…

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MMBL puts forth policy recommendations to foster financial Inclusion in Pakistan

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Mobilink Microfinance Bank Limited (MMBL) has put forth it’s 9 point agenda for the future of financial inclusion covering far-reaching and research-based recommendations in the areas of diversity & inclusion, microfinance, SME finance, housing finance, agriculture finance, digital lending, payments, savings, and insurance. The 9 point agenda was formally launched by President & CEO, Mobilink Microfinance Bank, Ghazanfar Azzam, in the presence of dignitaries from State Bank of Pakistan (SBP), Securities and Exchange Commission of Pakistan (SECP), Pakistan Microfinance Network (PMN), Jazz Pakistan, VEON and the media. Speaking at the…

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