Year: 2022

Damaged gas pipelines repaired in Balochistan: SSGC

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Gas supply to affected areas of Balochistan will be restored shortly as the technical team of Sui Southern Gas Company has repaired the 12-inch diameter gas pipeline swept away by rains and floods in the Bibi Nani area of Bolan district. Talking to media on Sunday, the SSGC officials told that the repair work of the affected pipelines had been completed, after which the PNC branch gave the green signal to the SSGC’s transmission team for restoration of gas to parts of the province, including Quetta. The province is without…

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Foreign Minister Bilawal Bhutto Zardari Along with Diplomats of More than 20 Countries

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petroleum

Foreign Minister Bilawal Bhutto Zardari along with diplomats of more than 20 countries and representatives of international organizations visited the flood affected areas of Sindh, Balochistan and Khyber Pakhtunkhwa . The diplomats from Turkmenistan, Bahrain, Saudi Arabia, Azerbaijan, Germany, Spain, United States, China, France, Japan, Italy, South Korea, Qatar and Turkey among several other countries as well as representatives of international organizations including the United Nations , also visited the flood-affected areas. Federal Minister Khurshid Shah and Sindh Chief Minister welcomed Foreign Minister Bilawal Bhutto Zardari, Federal Minister for Planning…

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Factbox-Germany’s LNG import project plans

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German is acquiring liquefied natural gas (LNG) terminals as part of its efforts to diversify away from Russian gas. It leased four floating storage and regasification units (FSRUs) in May capable of importing at least 5 billion cubic metres (bcm) of seaborne gas per year, two of them due to become available this year. Wilhelmshaven will become the first LNG hub and Brunsbuettel the second, to be developed by Uniper and RWE, respectively.The Elbe river port of Stade and Lubmin on the Baltic Sea will receive the two other FSRUs,…

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Asia Fuel Oil: HSFO Margins Weaken

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Refining margins for 180-cst high sulphur fuel oil remained weak on Friday despite an uptick in cash differentials over recent trading sessions. The front-month crack was at a discount of $20.60 per barrel at the Asia close (0830 GMT) on Friday, declining further compared to an average discount of $16.59 per barrel over last month, based on Refinitiv data. Fuel oil demand for power generation is expected to soften further as peak summer has retreated in the Middle East, while plentiful supplies weigh on the market. Spot trading activity was…

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A Cap on Russian oil prices? G7 Eyes Untried, Risky Plan

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Capping the price of Russian oil, an approach G7 members said Friday they want to pursue “urgently,” would be an unprecedented move and one which some analysts say could backfire. Russian oil would be purchased at a discount from prevailing market prices, to limit Moscow’s profits as it prosecutes its war against Ukraine; but it would keep the price above the cost of production to ensure incentive for its export. The discounted rates, calculated separately for crude oil and refined petroleum products, could be regularly revised, according to a US…

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