Year: 2021

Sour Notes

Admin

The year 2021 was a year of misery and disappointment for the people of Pakistan, and would haunt them for years with little hope that the year 2022 would be any better. The excellent handling of Covid-19 by the present regime was nullified by its subsequent loss of writ. There was an increase in economic activities, but that was accompanied with difficulties for the common man. Increase in productivity was not accompanied with new jobs. The increase in taxes was mainly due to massive decline in rupee value and equally…

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Karachi Looks for Alternative Fuels Amidst Gas Crisis

Admin

Amidst gas crises, citizens have been forced to look for alternative heat sources like LPG cylinders and burning coal, wood or biofuel. Resultantly, the price for these alternative options has also gone up by 20 to 30 per cent, backed by increased demand from domestic as well as commercial sectors. Ayesha Khatun, a working-class woman who is a resident of the Musa Colony area, said that she cannot even afford to buy LPG, so her only option is to burn wood like the dark ages. “You would think wood is…

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Record-Breaking Gas Prices Prompt Iran To Boost Production

Admin

As great as Iran’s oil reserves are, its gas reserves are even greater, with official estimated proven natural gas reserves of 33.78 trillion cubic metres (Tcm), second only to Russia, 17 percent of the world’s total and more than one-third of OPEC’s. If the new-found reserves in the Chalous field were added – as exclusively revealed by OilPrice.com – then Iran would have a total natural gas reserves figure of 40.9 Tcm (bigger than Russia’s, given required adjustments to that figure). In tandem with its key superpower allies – Russia…

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Natural Gas Price Forecast – Natural Gas Markets Continue to Consolidate

Admin

Natural gas markets have initially fallen during the trading session on Monday, but then turned around to show signs of life again. By doing so, it looks like we are simply hanging around in the same range that we have been in for a while and therefore I am not expecting much at this point in time. On signs of exhaustion are more than willing to start selling, but quite frankly this week is probably going to be more micro movements than anything else. I do not anticipate that this…

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MoE’s Love Affair with Furnace Oil

Admin

Gas and furnace oil (FO) crisis is becoming a norm in Pakistan in winters. To some extent, failure to procure adequate volume of LNG in winter was also overplayed by the media. However, if there is going to be an FO crisis, the government should be held responsible. The fear is that locally produced FO by refineries may not be consumed due to higher imports. If that happens, local refineries will produce lower quantities of petrol and diesel. And that can disturb the value chain of domestic hydrocarbons i.e., production…

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