Month: July 2022

Coal import for power generation: Pakistan’s delegation to visit Afghanistan on 17th

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A Pakistan delegation led by Secretary Commerce, Sualeh Ahmad Faruqui will visit Afghanistan on July 17-18, 2022 for talks on import of coal for power generation, well informed sources told Business Recorder. The delegation visit is scheduled amid threats by Chinese company generating electricity on imported coal that they will revert to South African coal if NEPRA fails to resolve its issues related to payments. Sharing the details, sources said, during the third meeting of Border Management Committee (BMC) under the chairmanship of Federal Minister for Defence, Khawaja Asif it was…

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Pakistan International Oil Limited Established in Abu Dhabi

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A consortium of Pakistan’s companies comprising Oil and Gas Development Company Limited (OGDCL), Mari Petroleum Company Limited (MPCL), Government Holdings (Private) Limited (GHPL), and Pakistan Petroleum Limited (PPL) (Operator) has established Pakistan International Oil Limited (PIOL) in Abu Dhabi as an independent joint-venture company. The consortium, which has been awarded Offshore Block 5 in Abu Dhabi’s second competitive exploration bid round, aims to commence the company’s operations. Offshore Block 5 covers an area of 6,223 sq. km and is located 100 km northeast of Abu Dhabi city. The offshore Block…

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Are Energy Markets Responsible For Currency Craziness?

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As mentioned in the last post, the huge break in energy prices between the US and the rest of the world could explain the extreme dollar strength we have seen this year. Part of the problem I have with that is that the corollary of that trade is energy exporters should see a boost from the improved terms of trade. Australia is one of the biggest LNG exporters in the world, and it has not seen any currency appreciation. There is another way of looking at currency markets that would…

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Who Really Controls The World’s Oil Reserves?

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Big Oil majors in the United States have found themselves the target of much pressure to boost production lately, as prices go wild amid a tight—and tightening—market. At the same time, the U.S. government, as well as the EU, have been looking all over the world for more supply. Wood Mackenzie just had some bad news for them. According to new research from the energy consultancy, more than half—65 percent, to be precise—of the world’s discovered oil and gas reserves are under the control of national oil companies. The reason this is bad…

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EFP warns Govt of looming Gas crisis

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President, Employers’ Federation of Pakistan(EFP), Ismail Suttar, has said that the Government of Pakistan should increase the price of gas for domestic consumption. As a country undergoing an economic crisis, the government must seriously take steps to curb wastage of precious gas resources. In a statement, EFP president said that Pakistan already has a deteriorating Balance of Payments (BOP) position and hence must take strict measures to curb its energy crisis. The biggest wastage of energy resources is through wastage of Liquefied Natural Gas (LNG) in Pakistan. Majority of countries…

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