Day: January 28, 2022

Are Activist Investors To Blame For High Oil Prices?

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The shareholder returns adage has now become a fixture of the U.S. oil industry. Large public oil companies are not boosting production despite rising prices and tight supply. Instead, they are returning cash to shareholders. And this might continue, raising the ceiling on prices. From a certain perspective, this is the right thing to do in order to keep shareholders on. The oil industry is going through a reputation crisis right now coupled with the rise of the activist investor whose goal is not only to make money but also to…

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Oil Prices Could Reach $100 This Year. It’s Bad for Oil Producers, Too.

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Talk of $100-a-barrel oil has intensified in recent days, but triple-digit prices may pose a disadvantage for major oil-producing nations that are set to meet next week to decide the best course of action on production levels. “It isn’t in OPEC+’s best interest to see prices go through $90 [a barrel] this year and move higher,” says Bob Ryan, chief commodity and energy strategist at BCA Research. “The potential for demand destruction is high at these levels, especially if the [U.S. dollar] remains strong,” he adds, as local…

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Oil hits over 7-year high on political risks, supply crunch

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Oil prices extended gains to their highest levels in over seven years on Friday as ongoing global political turmoil fanned concerns over tight supply. The benchmark contracts are on track for their sixth straight weekly rise, the longest run of gains since October. Brent futures rose $1.25, or 1.4%, to $90.59 a barrel by 11:09 am ET (1609 GMT), having hit their highest level since October 2014 at $91.70. U.S. West Texas Intermediate (WTI) crude futures gained $1.05, or 1.2%, to $87.66 a barrel after hitting an over seven-year high…

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Planning Commission Wants to Ban NHA From New Projects

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Due to delay in execution, slow progress on projects, and cost overrun, the Planning Commission has recommended barring the National Highway Authority (NHA) from submitting new projects and has directed it to bring its business plan as its throw forward has reached Rs. 907 billion. The current pace of approving new projects of the National Highway Authority is not sustainable, and the ongoing or new schemes cannot be completed on time with the available funding, an official source told ProPakistani. The Transport and Communication section of the Planning Commission has…

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NCOC Announces Decision on Restrictions in Schools

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The National Command and Operation Center (NCOC) met earlier today with the Federal Planning Minister, Asad Umar, in the chair. The meeting assessed the overall Coronavirus situation in the country and expressed serious concerns over it. In a bid to contain the spread of the virus, the NCOC has decided to extend the restrictions on the educational sector. Now, these restrictions will remain in place till 15 February 2022 and will be reviewed before the last day. Earlier on 19 January, the NCOC had initially imposed these restrictions which took…

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