Category: highlights

Govt planning to borrow Rs1.25trn from banks to clear circular debt, says brokerage house

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Power-sector

In a key development for Pakistan’s power sector, the government was planning to borrow Rs1.25 trillion from the banking sector to retire the circular debt, stated brokerage house Topline Securities in a report on Friday. Pakistan circular debt crisis is a significant challenge for the country’s energy sector and its broader economy. The circular debt refers to the cascading cycle of non-payments throughout the energy supply chain. “As per our channel checks and various news reports, presidents of the different commercial banks attended a meeting in Islamabad yesterday (Thursday) to…

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Global LNG: Asian spot LNG price flat amid bearish Europe gas sentiment

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LNG

SINGAPORE: Asian spot liquefied natural gas (LNG) prices were flat this week, holding at a ten-week low amid Europe’s bearish gas price sentiment, though some emerging spot demand has curbed losses. The average LNG price for April delivery into northeast Asia <LNG-AS> was at $13.50 per million British thermal units (mmBtu), industry sources estimated. Asian LNG prices are bearish, driven by anticipated declines in the Dutch Title Transfer Facility (TTF) benchmark in Europe and stable Pacific supply, said Kpler analyst Go Katayama. “Looking ahead, Asian LNG prices are expected to…

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Pakistan’s industry paying double power costs of US, China, India: report

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power-sector

ISLAMABAD: Pakistan’s industrial sector is paying almost double the electricity prices compared to China, India and the United States, and even higher than the European Union, adversely impacting its export competitiveness. According to the latest ‘Electricity 2025 — Analysis & Forecast to 2027’ report by the Paris-based International Energy Agency (IEA), the average 2024 electricity rates in the United States and India amounted to 6.3 cents each per kilowatt-hour (kWh), 7.7 cents in China, 4.7 cents in Norway and 11.5 cents in the European Union. In comparison, average electricity prices for energy-intensive…

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Oil eases in choppy trading on U.S. tariffs, OPEC+ plans to raise output

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Oil falls

HOUSTON: Oil prices eased slightly in choppy trade on Thursday with Brent still below $70 under pressure from trade tariffs between the U.S., Canada, Mexico and China, and OPEC+ plans to raise output. Those factors and a larger than expected build in U.S. crude inventories had sent Brent as low as $68.33 on Wednesday, its weakest since December 2021. Brent futures were down 29 cents, or 0.4%, at $69.03 a barrel by 11:10 a.m. ET (1610 GMT) on Thursday while U.S. West Texas Intermediate crude futures eased 37 cents, or…

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Oil down on OPEC+ output increase, tariffs start and US pause on Ukraine aid

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oil price

LONDON: Oil prices extended losses on Tuesday following reports that OPEC+ will proceed with a planned output increase in April and as U.S. tariffs on Canada, Mexico and China came into effect, as well as Beijing’s retaliatory tariffs. Brent futures were down $1.05, or 1.5%, at $70.57 a barrel by 1133 GMT while U.S. West Texas Intermediate (WTI) crude was off 83 cents, or 1.2%, at $67.54. “The current downward trend in oil prices is primarily driven by OPEC+’s decision to increase output and the introduction of U.S. tariffs,” said…

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