Month: June 2022

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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K-Electric seeks Rs4.86 tariff increase

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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 electricity purchase from the Central Power Purchasing Agency-Guarantee (CPPA-G). The price of furnace oil increased 22% in April 2022 compared to the previous month. Similarly, the price of electricity purchase…

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