Year: 2022

Electricity saving: It isn’t broke; don’t fix

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power

So, energy conservation is the new plan. Nothing was ever seen before, but least needed than ever before. The idea is to have the markets shut earlier and wedding events be over earlier. Well, making the most use of daylight can never be a bad idea. But this being pitched as a solution to tackle the mess Pakistan finds itself in, does not make much sense. That is largely because like most times, there seems to be an issue with problem identification. Electricity generation capacity is not a problem in…

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Production at Zarghun gas field resumes

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Mari Petroleum Company Limited has announced that the gas production from Zarghun South Gas Field, Balochistan has been resumed. The field is currently producing around 5mmscfd of gas which will be gradually ramped up to its optimum production rate, material information sent to Pakistan Stock Exchange on Wednesday said, adding that the gas is being supplied to Sui Southern Gas Company Limited (SSGCL). MPCL is the Operator of the Zarghun South Gas Field with a 35 percent working interest.

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Circular debt in gas sector: Committee formed to give roadmap in 10 days

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Amid the IMF demand for hiking gas tariffs, the government has constituted a high-powered committee on Circular Debt Settlement Plan for gas sector companies with the mandate to devise a clear roadmap for erasing this monster within 10 days. The circular debt of the cash-bleeding gas sector has accumulated to Rs1,600 billion and has now gripped the gas sector after the failure of the government to erase this menace from the power sector. The committee has been constituted with the mandate of three major tasks including mapping of gas sector’s…

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Controversial Gas Cap Could Lead To Less LNG For The EU

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After months of negotiations, the EU finally agreed on Monday to set a price cap on natural gas to protect consumers from excessive price spikes and limit inflationary pressure and industrial damage to European economies. The price cap, however, could limit Europe’s capacity to continue to draw most of the global spot LNG supply, analysts say.  Some EU member states such as Germany and the Netherlands had reservations about a price cap, concerned that a market intervention and a ceiling on prices would take away Europe’s key advantage in attracting LNG…

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$100 Oil To Return In 2023

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dollar

Eric Nuttall, partner and senior portfolio manager at Ninepoint Partners LP, has told the Financial Post that oil prices will return to $100 per barrel in 2023. According to the analysts, many of the headwinds that have cut short the oil price rally this year including China’s zero-Covid policy and the coordinated SPR releases by several governments, will no longer be there in 2023. Coupled with sanctions on Russia’s oil and gas, this should elevate oil prices. He has also predicted that the energy sector will continue to outperform other…

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