Surprise Crude Build Fails To Derail The Oil Rally

Crude oil prices moved slightly higher today after the Energy Information Administration reported a crude oil inventory build of 1.1 million barrels for the week to February 11. This compares with a draw of 4.8 million barrels estimated for the previous week and an estimated 1.076-million-barrel inventory decline for last week as reported by the American Petroleum Institute on Tuesday.…

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No let-up in gas crisis: LNG firms renege on commitment to provide cargoes

 The ongoing gas crisis is unlikely to subside when the mercury rises as LNG trading companies, Italy-based ENI and Singapore-based GUNVOR, have cancelled their term LNG cargoes, which were scheduled to be delivered in the first and second week of March 2022 respectively. This will be the fourth time when ENI will back out of delivering the term LNG cargo.…

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Europe now on ‘safe side’ for gas supplies this winter: von der Leyen

Europe is now on the “safe side” with regard to gas supply this winter despite concerns over Russian deliveries, European Commission President Ursula von der Leyen said Feb. 16, amid the continued standoff between Moscow and the West over Ukraine. We have, during the last weeks, looked into all possible disruption scenarios in case Russia decides to partially or completely…

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The petrol shock

Petrol-pump

At a time when people can barely afford to part with even a single rupee from their heavily strained budgets, the federal government has announced a dramatic rise in the prices of all petroleum products, with the increase ranging from Rs10 to Rs12 on average. Analysts believe this may be the highest rise in petroleum prices at one time ever…

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Industrialists oppose hike in POL prices

Petrol-Price

Increasing production cost making difficult to run factories, Abdul Rasheed SITE chief demands to withdraw recent increase in POL prices KARACHI: President, Site Association of Industry, Abdul Rashid, has declared the recent increase in POL prices disastrous for the economy and has appealed the Prime Minister Imran Khan to withdraw the recent increase in POL products otherwise, it will become…

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audi Arabia interested to invest in Refinery and Technology sector of Pakistan: KSA Investment Minister

Islamabad February 16 2022: Federal Minister for Finance and Revenue Mr. Shaukat Tarin held a virtual meeting with Saudi Investment Minister Engr.Khalid Al-Falih, today. Chairman Board of Investment Mr. Muhammad Azfar Ahsan and other senior officers also participated in the meeting. Both sides highlighted deep-rooted bilateral ties and cordial relationship between the two countries. The two sides discussed about the…

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