The worst possible time for political chaos is when economic conditions are deteriorating, and the singular focus should be to manage the economy. Unfortunately, economic considerations are on the backburner. One may wonder what is opposition’s imperative to oust IK at this point in time. Foreign reserves are depleting at record pace, and the currency is depreciating drip by drip…
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Asia’s cash premiums for 380-cst high-sulphur fuel oil (HSFO) climbed on Friday, surging to a more than two-year high and posting their second consecutive weekly jump amid strong demand and tight supplies. The cash differentials for 380-cst HSFO surged to a premium of $21.50 per tonne to Singapore quotes, compared with $20.75 per tonne a day earlier. The premiums have…
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Asian spot liquefied natural gas (LNG) prices were relatively stable this week but there was risk to the upside due Russia’s threat to cut off supply to Europe unless payments are made in roubles. The average LNG price for May delivery into north-east Asia LNG-AS was estimated at $35.00 per metric million British thermal units (mmBtu), unchanged from the previous…
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In Q1,crude oil prices continued the long-term bullish trend that began after WTI futures briefly spiked into negative territory in 2020. The US benchmark traded within a neat pitchforkthroughout 2021, registering multiple bounces within its confines.The invasion of Ukraine ultimately sent oil prices into a parabolic rise, however. After reaching a high of 130.50, WTI pulled back sharply towards the pitchfork before attempting another advance. The 2011 high at 114.83 has proven to be…
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Engro Energy Limited in collaboration with the National Electric Power Regulatory Authority (NEPRA), Ministry of Energy, Government of Sindh, Overseas Investors Chamber of Commerce & Industry (OICCI), and Corporate Pakistan Group held ‘Pakistan Energy Symposium’ at a local hotel on Saturday. The conference brought together relevant stakeholders from public sector policymakers, regulatory bodies, private sector stakeholders and industry experts to…
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SSGC filed a petition for the increase in gas tariff with Oil & Gas Regulatory Authority (OGRA) under Section 8 (1) of OGRA Ordinance 2022 for the determination of its estimated revenue requirements/prescribed prices for FY2023. The gas utility projected Rs88.798 billion as shortfall in its total revenue requirement, estimated at Rs286.724 billion for next fiscal, whereas sale revenue at…
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The K-Electric (KE) has sought Rs 3.4 billion from the federal government as the first installment from the prime minister’s relief package under which a subsidy of Rs 5 per unit has been approved for domestic consumers using up to 700 units a month and commercial non-ToU consumers having a sanctioned load of less than 5 KV. The International Monetary…
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Indonesian ambassador Adam Mulawarman Tugio on Saturday extended support to Pakistan to obtain full dialogue partner status with the Association of Southeast Asian Nations (ASEAN), which could provide huge economic opportunities for Pakistan. Pakistan will be able to be accepted as a full dialogue partner status and it will increase political, commercial, and economic links with ASEAN member states, ”…
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Karachi: Agreements have been signed with leading power sector companies to safely use garbage collected in Karachi for production of clean electricity. The Sindh government’s Energy Department, Local Government Department, and Sindh Solid Waste Management Board (SSWMB) have joined hands to launch the project under the public-private partnership. The proposed waste-to-energy project will consume 6,000 tonnes to 8,000 tonnes of…
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Iraq’s oil ministry says it exported $11.07bn of oil in March, the highest level in 50 years, as crude oil prices soared in the wake of Russia’s invasion of Ukraine. The record oil export, which accounts for more than 90 percent of Iraq’s income, is a big boost to the state coffers. The second-largest producer in the Organization of the…
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