Year: 2022

audi Arabia interested to invest in Refinery and Technology sector of Pakistan: KSA Investment Minister

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Islamabad February 16 2022: Federal Minister for Finance and Revenue Mr. Shaukat Tarin held a virtual meeting with Saudi Investment Minister Engr.Khalid Al-Falih, today. Chairman Board of Investment Mr. Muhammad Azfar Ahsan and other senior officers also participated in the meeting. Both sides highlighted deep-rooted bilateral ties and cordial relationship between the two countries. The two sides discussed about the potential for increased collaboration and investment in the various sectors including agriculture, food security, Information Technology, infrastructure development, Refinery and vowed to extend business and economic ties. The Saudi Minister…

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Addressing gas shortage: In major move, Senate passes WACOG bill

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In a major development for the power sector, the Senate passed on Thursday the Weighted Average Cost of Gas (WACOG) bill. The development was announced by Federal Minister for Energy Hammad Azhar who said the bill is a “historic reform”, which will ensure Pakistan’s energy security. “WACOG bill has been passed today by Senate as well. It is a historic and long-pending reform that will ensure the energy security of Pakistan,” said Azhar in a tweet. The federal minister was of the view that the development would allow the government…

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Traders Turn To Oil And Commodities As Inflation Spikes

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After a torrid run, oil has barely managed to squeak out a second week of gains in a volatile session as risk-off sentiment spreads in broader markets. Predictably, the bears have started coming out of the woods, with Citigroup recently predicting an oil price crash to $65 this year. But luckily for the oil bulls, there’s no shortage of positive catalysts in this market. Stewart Glickman, energy equity analyst at CFRA Research in New York, says traders are now seeking refuge in commodities, including oil, as a hedge against inflation.…

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Threat of Russian Attack on Ukraine Looms Over Energy Markets – LNG Recap

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The growing threat of a Russian invasion of Ukraine had the energy market on edge Monday, when oil and natural gas prices again moved higher. The standoff has also upended metals markets, weighed on equities and is creating additional inflationary pressures. The U.S. warned Friday that an attack could be imminent, sending commodity prices up. German Chancellor Olaf Scholz was scheduled to speak with Russian President Vladimir Putin in Moscow on Tuesday in the latest diplomatic push to ease tensions. Spot liquefied natural gas (LNG)  prices in Asia followed European…

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