Day: April 25, 2022

Saudi Arabia and Pakistan’s unique, profound and durable relationship

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The Kingdom of Saudi Arabia and the Islamic Republic of Pakistan have an exceptional relationship, rooted in the love between the two peoples, making it immune to changes in leadership. This bond has continued to strengthen over the past several decades in the political, security, economic and cultural spheres. It will be boosted further under the charismatic leadership of Mian Mohammed Shehbaz Sharif, the newly elected prime minister of Pakistan.Sharif will soon visit the Kingdom to perform Umrah and seek the blessings of Allah and Prophet Muhammad, peace be upon…

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If Oil Companies Control Prices, Why Do They Ever Lose Money?

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With oil prices still over $100 a barrel, one thing is certain. Oil companies are going to make big profits. But misconceptions abound about the connection between high oil prices and high profits. After years of observing the reactions of both the public and our political leaders, it seems like they believe something like the following fictional narrative. They can see ExxonMobil XOM -3.4% executives sitting around a smoke-filled boardroom, saying “Well, we have the public right where we want them. It’s time to jack up the price of gasoline…

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High LNG Prices Are Here To Stay

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n just one year, the global market of liquefied natural gas (LNG) turned from a buyer’s market to a seller’s market, with LNG suppliers commanding a tight market as buyers scramble to secure gas from providers other than Russia.  The European Union’s target to diversify gas supplies, speed up the roll-out of renewable gases, and replace gas in heating and power generation in hopes of cutting EU demand for Russian gas by two-thirds before the end of the year has created a global race for spot LNG supply. In this race for…

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SSGPL Stops Gas supply for KEPCO, industry

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The Sui Southern Gas Pipeline (SSGPL) has stopped the gas supply for the Kepco and industry for the third consecutive day as gas crisis hits the port city of Karachi. The gas authorities said that the gas supply would be stopped to Gepco and the general industry on Sunday. It has been notified that provision of gas would be available from Monday 8am. he CNG stations in Karachi are also closed for the third consecutive day. Meanwhile, “Assuring a sustainable continuity of gas supply will go a long way for…

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No Shortcut to Power Woes

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If there’s one lesson Pakistan’s policymakers can learn from the ongoing tumult in the international energy markets, it is to look for economical and reliable substitutes to the expensive import-based fuel mix for tackling longstanding power sector challenges: availability, affordability and accessibility.Energy prices have shot through the roof and suppliers cancelled their long term contracted LNG shipments on Covid-related supply chain disruptions exacerbated lately by the Russian-Ukraine conflict, underlining how vulnerable Pakistan’s energy security is to the global price and supply volatility. The previous Nawaz Sharif government had attempted to…

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