Day: January 13, 2022

With an estimated potential value of $1.3 trillion, Saudi Arabia’s mining sector is set for significant foreign direct investment over the next decade, Arab News reported on Wednesday. A total of 48 minerals have so far been identified in the Kingdom. Gold, copper and phosphate are currently mined in large quantities, while other deposits include zinc, nickel and rare earth metals, used in the manufacture of computers and smart devices. Saudi Arabia’s commitment to private sector involvement in the mining sector can be seen in several international joint ventures struck…

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atural gas futures are finally breaking out to the upside of its month-long support base early Wednesday. As we mentioned previously, the chart pattern was bullish and that speculators were just waiting for weather-related news to drive prices through the resistance. Helping to generate today’s breakout move is robust liquefied natural gas (LNG) demand, forecasts calling for lingering cold weather throughout the month and strong domestic demand. Natural gas futures are finally breaking out to the upside of its month-long support base early Wednesday. As we mentioned previously, the chart…

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An analysis by Rystad Energy projects overall oil and gas investments will rise 4 percent to $628 billion this year from $602 billion in 2021. A significant factor behind the increase is a 14 percent increase in upstream gas and LNG investments. These segments will be the fastest-growing this year, with a jump in investments from $131 billion in 2021 to around $149 billion in 2022. Although this falls short of pre-pandemic totals, investments in the sector are expected to surpass 2019 levels of $168 billion in just two years,…

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National Electric Power Regulatory Authority (Nepra) on Wednesday deferred a public hearing regarding Quarterly Tariff Adjustment (QTA) for first quarter (July-September) 2021-22 due to “inexact” figures of power Distribution Companies (Discos). Presided over by Nepra Chairman Tauseef H Farooqi, the Authority received a briefing from Nepra’s own team and a couple of Discos. However, when CPPA-G representative Naveed noted that the figures for QTA sent by the Discos are Rs11 billion less than the statistics shared by the Discos Chairman, Nepra questioned if Discos had shared accurate numbers. Discos, in…

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