Day: June 8, 2022

The Biggest Reshuffle Of Oil Flows Since The 1970s

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The biggest reshuffle of oil trade flows since the Arab oil embargo of the 1970s is underway—and things may never return to normal. The Russian invasion of Ukraine and the sanctions on Russian oil exports are changing global oil trade routes. Over the past nearly five decades, oil flowed more or less freely from any supplier to any customer in the world, except for sanctions on Iran and Venezuela in recent years.  This free energy trade is now over, after the Russian aggression and the Western sanctions that followed, plus Europe’s irreversible…

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Is The Battery Boom Officially Over?

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The term battery metals typically refers to lithium, nickel, and cobalt. The name stems from the fact that the three metals are frequently used in the production of all types of modern batteries. Since 2021, these metals have enjoyed a rather lengthy bull run. This has proved profitable for investors and provided some much-needed predictability for traders. However, if you ask the experts at Goldman Sachs, the battery metals party is “officially over.” But is this really true? If so, what does it mean for the rest of 2022? Are Battery…

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Kazakhstan Sees Oil Exports Constrained Due To Sanctions On Russia

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Rising costs and sanctions on Russia have lowered the profitability of oil exports for Kazakhstan’s state oil and gas firm KazMunayGas, which has been forced to accept discounts on its crude being carried via the Russian pipeline network. The CPC pipeline carries oil from Kazakhstan’s Tengiz oilfield to export infrastructure along the Black Sea coast. Most of the crude oil carried by the CPC pipeline belongs to Russia, Kazakhstan, and international oil majors such as Chevron. It remains a vital crude oil artery for Kazakhstan, accounting for two-thirds of the…

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OGRA Directs OMCs To Ensure Fuel Stocks At Petrol Pumps

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ogra

Oil and Gas Regulatory Authority (OGRA) on Tuesday directed all Oil Marketing Companies (OMCs) to ensure adequate fuel stocks at their petrol pumps across the country aimed at avoiding any inconvenience to consumers. “There is no price increase in petroleum products. Moreover, the country has more than sufficient stocks available,” OGRA spokesman Imran Ghaznavi said in a brief press statement. The statement came after long queues were witnessed at petrol pumps amid speculations of an increase in the prices of petroleum products by Tuesday night.

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NEPRA moves to break monopoly

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The National Electric Power Regulatory Authority (Nepra) has taken a landmark decision by granting the market operator licence to the Central Power Purchasing Agency (Guarantee) Limited (CPPA-G) in order to break the monopoly of power distribution companies. The idea of Competitive Trading Bilateral Contract Market (CTBCM) was floated around 30 years ago in 1992 to split the power sector for improving the services of distribution companies. The CTBCM is aimed at introducing competition in the electricity market where multiple sellers and buyers will trade electricity, says a statement issued on…

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