Month: March 2022

Oil prices have continued their wild ride this week, with Brent swinging up and down in a $33 a barrel range after ending the wildest week on record last week amid twists and turns in the international response to the Russian invasion of Ukraine. Last week saw Brent Crude trading a massive $20 a barrel range, as the Russian invasion of Ukraine sparked concerns about supply amid an exodus of buyers of Russian commodities. That was the highest ever trading range for a week since the Brent benchmark was launched…

Read More

Karachi Electric (KE) has expressed reluctance to purchase expensive spot-priced re-gasified liquefied natural gas (RLNG) from Pakistan LNG Limited (PLL), saying that any inequality in the RLNG pricing for PLL’s supply to KE as compared to the other power plants in the country should be avoided. The power utility, which intends to inaugurate first unit of 450 MW its RLNG-fired power of 900 MW on March 21 or 22, 2022, has conveyed its concerns to Petroleum Division. KE’s Chief Regulatory Affairs & Government Relations Officer, Imran Qureshi, in his letter…

Read More

National Electric Power Regulatory Authority (NEPRA) has increased electricity prices in the country and conveyed the decision to the federal government for a final nod, ARY NEWS reported. According to details, the power authority has sent the decision to raise the power tariff by Rs0.95 per unit to the government and clarified that it would be implemented after a notification is issued. According to the NEPRA recommendation, the basic power tariff has been raised to Rs0.53 per unit besides also a hike for separate power consumption slabs. National Electric Power…

Read More

India’s coal imports from Russia in March could be the highest in more than two years, data from research consultancies showed, as Indian buyers continue buying the fuel from a market that is now increasingly isolated by sanctions. Vessels carrying at least 1.06 million tonnes of coking coal, mainly used for steelmaking, and thermal coal, used primarily for electricity generation, are set to deliver the fuel at Indian ports in March, the highest since January 2020, data from consultancy Kpler showed. Russia, usually India’s sixth largest supplier of coking and…

Read More