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,…
Read More
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…
Read More
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…
Read More
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.…
Read More
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…
Read More
K-Electric has requested the National Electric Power Regulatory Authority (Nepra) to increase power tariff by Rs4.86 per unit on account of fuel cost adjustment (FCA) for April 2022. In its petition, the private power utility pointed out that the major impact on the monthly FCA came from the increase in prices of furnace oil and the rise in cost of…
Read More
Chief Secretary Sindh, Dr. Muhammad Sohail Rajput, has assured the industrialists of SITE area to look into the matter of gas being produced from Ghotki gas filed, and provided to SNGPL whereas Sindh has the first right of use on the gas produced in the province as per constitution. He has also assured to strive to enhance the development budget…
Read More
The anxiety in the currency market is growing again. PKR/USD after peaking at 202 in the last week, started coming back down, trailing below 200 mark after the government swallowed the bitter pill and increased petroleum prices. But once again this week, the currency started depreciating and touched a new low of Rs203 to a dollar yesterday. This is despite…
Read More
