Year: 2022

Stakeholders say solar panel policy is ‘bound to fail

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Stakeholders from the private sector have expressed concerns over the government’s new policy on solar panels and said it was bound to fail. Speaking at the closing session of the workshop on the policy, entrepreneurs and industrialists said the government’s policies were promoting the import of solar panels as opposed to local manufacturing.The workshop was organised by the Engineering Development Board (EDB) and the Ministry of Industries and Production (MoIP). They said that the government has allowed duty free import of solar panels whereas 17 per cent sales tax has…

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LNG tenders fail to fetch bidders

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Pakistan’s Liquefied Natural Gas (LNG) shortages appear prolonging for years as it failed to attract any bidder for a long-term contract because of tight international market conditions. The state-run Pakistan LNG Limited (PLL) on Monday announced the results of two tenders for a total of 72 LNG cargos after a month-long extension in deadline and said it did not receive any bid. The PLL had originally floated the tender for 72 cargos — one cargo a month. This was to be in the shape of one tender for two lots…

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Oil Traders Are Cashing In On Volatile Markets

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The world’s commodity and oil traders are playing a crucial role in securing supplies amid a global energy crisis and disrupted trade flows following Russia’s invasion of Ukraine. Last week, the world’s biggest oil and gas traders met in Singapore for one of their industry’s top conferences. The war in Ukraine has been a double-edged sword for these traders who historically have been leading shippers of Russian oil. On one hand, they have benefited from being able to buy Russian oil at a big discount but on the other hand,…

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Refiners Expect Saudi Arabia To Raise Oil Prices For Asia In November

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Saudi Arabia may raise the prices for its crude export grades to Asia next month in response to signs of recovering crude demand in one of its biggest markets and the new batch of fuel export quotas issued by Beijing. Energy consultancy FGE said last week that Chinese refiners had been issued fuel quotas to the tune of 13.25 million tons for transport fuels and almost 2 million tons of very low-sulfur fuel oil, valid through the end of the year. They also have some 7 million tons left from…

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Why Have U.S. Natural Gas Prices Soared Since 2020?

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Following my previous article on U.S. natural gas production, I engaged in a Twitter discussion on the causes of the natural gas price surge over the past two years.2020. What ensued was a discussion of the influences in the natural gas markets in recent years. Indeed, the comment above is correct that most of the demand increase in U.S. natural gas production in recent years has been in power generation, as power plants phased out coal. Over the past 20 years, natural gas devoted to power production has increased from 5.3 trillion…

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