Month: October 2022

OPEC expected to stick to view of long-term oil demand rise

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OPEC is likely to maintain its view world oil demand will rise for another decade, longer than many other forecasters predict, in a forthcoming major report, despite the growing role of renewables and electric cars, two OPEC sources said. The Organization of the Petroleum Exporting Countries is scheduled to update its long-term oil demand forecasts in its 2022 World Oil Outlook on Oct. 31. The 2021 version sees oil demand reaching a plateau after 2035. Another decade or more of oil demand growth would be a boost for producers and…

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Shell Pakistan promotes biker, rickshaw fuelling safety

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Shell Pakistan promotes biker and rickshaw refuelling safety to its consumers and has launched a safety campaign, named “Ehtiyaat Bunay Hifaazat” (precaution means protection), aimed at creating awareness amongst 2wheelers and 3wheelers of the risks of staying seated on their vehicles while fuelling. An industry level event was organised and attended by representatives of the Oil and Gas Regulatory Authority (OGRA), the Oil Companies Advisory Council (OCAC), and Oil Marketing Companies (OMCs) in Pakistan to jointly collaborate and progress. In Pakistan, there are approximately 25 million 2wheelers and one million…

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Growatt MID 50KTL3-X2 now available in the Pakistani market

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The global leading distributed energy solution provider Growatt has launched a new C&I inverter specifically for commercial and industrial purposes. The company highlighted that the inverter is specially designed for the Pakistani solar market. The weight of MID 50KTL3-X2 is 50% less in weight as compared to the MAX 50KTL3 LV and also the volume of MID 50KTL3-X2 is 1/3 of the MAX 50KTL3 LV, which is much smaller in volume and lighter in weight than other 50kW products on the market. Thus, it can also reduce the transportation costs for the customers.The maximum input current is 32A per MPPT and 16A per…

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Zinc Prices Could Slide Further

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Since the beginning of 2022, tin prices have steadily declined. Indeed, such was the case for many metal prices after the March peak. However, it’s possible tin could see a reversal in the long term. As it begins to reach lower support ranges indicated by September 2020’s low, we could see tin start to push back towards the upside. For the time being, some remain optimistic that tin will indeed bounce back in the long term. Currently, tin is already showing signals of bouncing back in the short term. After…

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The Russian Oil Price Cap Could Be Set Between $63 And $64 Per Barrel

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Western governments are in the final stages of preparing for the implementation of a price cap on Russian oil exports, Reuters has reported, noting that the price range for the cap has yet to be set. According to one unnamed source who spoke to Reuters, the most likely range would be between $63 and $64 per barrel—the historical average price for crude. However, the report also included a warning from the World Bank that for the cap to be effective, developing economies need to be on board. At the same time,…

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