Author: Admin

PLL awards LNG tender to Vitol

Admin
lng-supply

Asian spot LNG prices rose to $15/mmBtu last Friday SINGAPORE: Pakistan LNG Limited (PLL) awarded a tender to commodities trader Vitol for the delivery of a liquefied natural gas (LNG) cargo in December, a source with knowledge of the matter said on Thursday, making it the country’s first spot purchase in over a year. Last week, PLL issued a tender seeking two spot LNG cargoes for delivery on December 7-8 and 13-14. It received bids from Vitol and Trafigura for the December 7-8 delivery window at $15.97 per million British…

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#its4u: A new chapter on climate democracy

Admin
climate-democracy

#its4u is the initiative of Rethinking Choices, East Africa Campuses and Colleges Green Network (EACCGN), and the World Climate School. We are brought together by a common goal. It is not working. Floods, wildfires, and storms are costing us millions of hours of work. We are losing the things that give us joy. It’s been 30 years since the climate process started, and oil, gas, and coal have not reduced. They have expanded every year. This is getting worse. Government coffers are empty – they will seek more money from…

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Denmark Envoy advises Pakistan to transform oil & coal-based economy to renewable & green economy

Admin

KARACHI: Ambassador of Denmark Jakob Linulf, while referring to economic crises suffered by Denmark in 70s and 80s when it was also on the verge of bankruptcy, said that Denmark came out of these crises by coming with a concept of transforming oil & coal-based economy to a renewable and green economy, which helped in attaining a unique position and made Denmark standout from any other country around the world.“Pakistan must also adopt a similar concept to deal with the economic crises as the country holds one of the best…

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Low gas output forces govt to book pricey LNG as winter nears

Admin
LPG-Air-Mix-Plant

ISLAMABAD: After a gap of almost one year, Pakistan on Wednesday received three bids for two additional liquefied natural gas (LNG) cargoes needed for the peak winter demand at a significantly higher premium over the prevailing spot market. Petroleum Minister Muhammad Ali later announced in the evening that the government had accepted two lowest evaluated bids to minimise winter gas shortage following a decline in domestic gas production so as to maintain load management at around the same level experienced during winter last year. In an international tender in September,…

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Oil down over $5 on weak demand

Admin
oil-gas.

LONDON: Oil prices settled down more than $5 on Wednesday as fuel demand destruction and a bleaker macroeconomic picture took centre stage in the day’s trade. Brent crude oil futures settled down 5.11, or 5.6 per cent, to $85.81 a barrel while US West Texas Intermediate crude (WTI) fell $5.01, or 5.6pc, to $84.22. At their session lows, both benchmarks were down by more than $5, and heating oil and gasoline futures also fell by more than 5%. Crude oil prices have fallen by about $10 since last week’s settlement.…

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