Crude oil futures leap in Asia as West imposes tougher sanctions on Russia

Spread the love

Crude oil futures were sharply higher in mid-morning Asian trade Feb. 28 as Russia puts its nuclear deterrence force on alert following a new round of financial sanctions imposed on the country after its military advanced into Ukraine over the weekend. The US, Canada, and European allies on Feb. 26 imposed new financial sanctions on Russian banks, including curbing access…

Read More

Putin’s War In Ukraine Could Break The OPEC+ Alliance

Spread the love

The OPEC+ cooperation is facing a possible breakdown following Russia’s military invasion of Ukraine. Russia’s aggressive military moves towards Ukraine will have a negative impact on the oil market cooperation between OPEC and Russian-led non-OPEC members. The success formula of Riyadh-Moscow-Abu Dhabi is in serious trouble as Western powers will be putting Saudi Arabia, Abu Dhabi, and others, under severe…

Read More

SECMC cuts power generation expansion plans by half

Spread the love

THAR: Pakistan has witnessed a mushroom growth of electricity generating facilities in the last decade, but inefficient power evacuation networks, over-generation capacity and overloaded transmission systems are forcing the producers to downsize their planned expansions. The Sindh Engro Coal Mining Company (SECMC) is among those major players, which has slashed its initial plan of installing 5,280MW power generation plants in Thar Block-II…

Read More

China-Pakistan Civil Nuclear Cooperation

Spread the love

The Pakistan Atomic Energy Commission (PAEC) and China Zhogyuan Engineering Cooperation signed a “Framework Agreement on Deepening Nuclear Energy Cooperation”  in September 2021, but such nuclear cooperation dates back to the late 1970s.  There has been a lengthy history of nuclear cooperation between China and Pakistan. Nuclear cooperation is aimed towards country development under IAEA norms. Pakistan and China have never…

Read More

The hardest hit

Spread the love

The global wave of inflation has hit Pakistan hard. The low-income segment of the society has particularly been affected by the sharp rise in the prices of basic kitchen items. The average inflation based on the Sensitive Price Indicator (SPI) increased 18.09 per cent on a year-on-year basis by the week ended February 18, 2020, but, for the lowest income…

Read More

Market guru

Spread the love

Weighted average cost of gas (WACOG) Bill is a positive sign for Pakistan, as it would ensure gas availability across all sectors countering the impact of depleting domestic gas reserves. Under the new pricing mechanism, the ratio of supply of local gas and the liquefied natural gas (LNG) would change to 50/50 from the current 70/30 in two years and 80/20…

Read More

Renewable energy projects: Mian Anjum for early completion

Spread the love

The Businessmen Panel (BMP) of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Sunday called for early completion of renewable energy projects, besides removing the hindrances to avoid delay, as the execution of several wind, solar and hydel power projects are getting delayed. The Businessmen Panel (BMP) Chairman Mian Anjum Nisar warned the government of the impediments including…

Read More

PPL – profits up in 1HFY22

Spread the love

Pakistan Petroleum Limited (PSX: PPL) announced its financial performance for 1HFY22 last week where its earnings for the six-month period were seen increasing by 21 percent year-on-year. The same was seen growing by 24 percent year-on-year in 2QFY22. The growth in bottom line was however not due to higher oil and gas production. Though PPL is an aggressive E&P sector…

Read More