Year: 2021

Analysis – LNG Markets Eye Record Prices in Race to Replenish Stocks

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Liquefied natural gas (LNG) prices face a quick return to recent record highs as cold weather approaches the Northern Hemisphere and surging power demand and depleted gas storage heightens the global energy crunch, particularly in Europe. This year’s power price shock has seen several domestic energy suppliers go out of business, while heavy industry curtailed output in energy-intensive sectors. Consumers are paying significantly more for home heating, adding to wider inflationary pressures, with no let-up in sight for countries dependent on LNG imports such as Spain. LNG prices lurched from…

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The 5th Joint Technical Committee Meeting of the Pak Stream Gas Pipeline

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The 5th Joint Technical Committee Meeting of the Pak Stream Gas Pipeline Project was held in Islamabad from 16th-18th November, 2021. The respective delegations held extensive consultations over the course of these discussions. The parties have expressed satisfaction over ironing out major outstanding issues in the Share Holders Agreement. The talks were held in an amicable environment that was characterised by mutual agreement, consensus and unanimity of views that has led to achieving stellar progress and very encouraging forward movement on the Share Holders Agreement.Both parties have also discussed broad…

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Man Dies, Seven Hurt in Lyari Gas Explosion

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A man died, and five children and two women were injured in an explosion on Wednesday morning that took place at a multi-storey residential building in the Lyari area of Karachi. The explosion took place at the sixth floor of the building located in Liaquat Ashraf Colony in the Lyari neighbourhood within the limits of the Kalri police station. As a result, a man was killed and seven others, including five children and two women, sustained injuries. Rescue workers reached the property and transported the casualties to the Civil Hospital,…

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Mystery Virus Takes Karachi by Storm

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A mysterious disease similar to dengue fever is spreading fast in the city. The disease caused by mosquito bite tests negative for malaria, dengue and other vector borne diseases. Patients, including adults as well as children, with dengue fever like symptoms such as headache and high fever, are coming to various public and private hospitals, healthcare experts said. Infected patients undergo various tests to diagnose the mosquitoborne diseases including dengue, malaria, chikungunya and others with negative results. Medical experts have advised citizens to take precautionary measures against mosquitoes. Talking to…

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Petrol Tax Tanks To All Time Low

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The Petroleum Differential Claim (PDC) lasted four days, before the government rushed to increase prices. Come November 16, 2021, normal services seem to have resumed, as the authorities continue to be pressed in the wake of high global crude oil price. This time around, another first was recorded, as GST on gasoline, came down to nothing, for the first time ever. The government finally seems to have a change of heart in terms of prioritizing petroleum revenues. Recall that it was Petroleum Levy (PL) on petrol, that had tanked to…

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