Category: Highlights

OPEC is likely to maintain its view world oil demand will rise for another decade, longer than many other forecasters predict, in a forthcoming major report, despite the growing role of renewables and electric cars, two OPEC sources said. The Organization of the Petroleum Exporting Countries is scheduled to update its long-term oil demand forecasts in its 2022 World Oil Outlook on Oct. 31. The 2021 version sees oil demand reaching a plateau after 2035. Another decade or more of oil demand growth would be a boost for producers and…

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The global leading distributed energy solution provider Growatt has launched a new C&I inverter specifically for commercial and industrial purposes. The company highlighted that the inverter is specially designed for the Pakistani solar market. The weight of MID 50KTL3-X2 is 50% less in weight as compared to the MAX 50KTL3 LV and also the volume of MID 50KTL3-X2 is 1/3 of the MAX 50KTL3 LV, which is much smaller in volume and lighter in weight than other 50kW products on the market. Thus, it can also reduce the transportation costs for the customers.The maximum input current is 32A per MPPT and 16A per…

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Since the beginning of 2022, tin prices have steadily declined. Indeed, such was the case for many metal prices after the March peak. However, it’s possible tin could see a reversal in the long term. As it begins to reach lower support ranges indicated by September 2020’s low, we could see tin start to push back towards the upside. For the time being, some remain optimistic that tin will indeed bounce back in the long term. Currently, tin is already showing signals of bouncing back in the short term. After…

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Western governments are in the final stages of preparing for the implementation of a price cap on Russian oil exports, Reuters has reported, noting that the price range for the cap has yet to be set. According to one unnamed source who spoke to Reuters, the most likely range would be between $63 and $64 per barrel—the historical average price for crude. However, the report also included a warning from the World Bank that for the cap to be effective, developing economies need to be on board. At the same time,…

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DGPC has publicly opened bids for 8 Onshore Blocks for grant of Petroleum Exploration Rights through open bidding on October 28, 2022 at Petroleum House, Islamabad. This was the second bidding round conducted during this year. Bids were received for 5 Blocks. The minimum investment to be carried out by the Exploration and Production (E&P) companies in these Blocks will be over USD 22.6 million in three years. Apart from E&P activities, the successful companies will also spend over USD 450,000 in social welfare for the areas of their respective…

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