Year: 2022

Certainly that Pakistan is passing through the worst economic and political crisis in its history of more than seven decades. Current challenges are unprecedented. Foreign debt has reached its peak, inflation, price hike, political turmoil, etc., all are reinforcing difficulties for Pakistan. Under such a critical scenario, the nation has to think smartly, and wisely. Without compromising national interests, Pakistan needs to explore all possible options to improve its economy and political stability. Pakistan has the capability to come out of the crisis, in the past, we did come out…

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Queensland’s energy minister has declared that none of the state’s eight coal-fired power stations will be closed as part of its 10-year energy transition plan, raising doubts about the government’s climate change and energy targets. Mick de Brenni said later this year he would present a plan to generate 50% of the state’s electricity from renewable energy sources, cut carbon emissions by 30% by 2030 and achieve net zero by 2050. However, there are questions about those targets after he added that eight existing coal-fired power plants would remain open.…

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The multibillion-U.S. dollar China-Pakistan Economic Corridor (CPEC), a mega project that can help Pakistan overcome its socio-economic challenges, has helped sow the seeds of love among young Pakistanis. During the ongoing festival of Eid-al-Fitr, Chinese workers at various CPEC projects across the Asian country felt the delight their Pakistani colleagues did and made the day very special for them. Syed Farukh Shah, an employee of the CPEC’s Engro Thar Coal Power Project in the underdeveloped Tharparkar district of the southern Sindh province, spent the festival at the workplace due to…

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It’s going to get even more volatile in energy markets – and hence for gasoline prices. Crude prices jumped on Wednesday after the European Union proposed a ban on oil imports from Russia as part of a new round of sanctions targeting the country after its invasion of Ukraine. The details are still being hammered out, and the proposal needs to be unanimously agreed upon by the 27 members of the bloc before going into effect. What to know about the U.S. emergency oil stash as Biden gears up to…

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Crude oil prices fell slightly today after the U.S. Energy Information Administration estimated oil inventories had added 1.3 million barrels during the week to April 29. At 415.7 barrels, the EIA said, inventories were 15 percent below the five-year average for this time of the year. Last week’s build compared with a modest build of 700,000 bpd reported for the previous week. In fuels, the EIA estimated inventory declines across the board. Gasoline inventories fell by 2.2 million barrels last week, according to the authority. This compared with a decline…

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