Category: Highlights

After a three year absence, oil and gas companies are back with a bang on the Toronto Stock Exchange’s annual list of top stocks, the TSX 30, which features the top-performers over a three-year period.  Based on dividend-adjusted share price performance, a total of 14 energy companies made the 2022 list of the 30 best performing stocks on the S&P/TSX index, posting an average share-price increase of 306% the period, thanks to surging global energy demand and sky-high commodity prices. Canada’s energy benchmark, Horizons S&P/TSX Capped Energy ETF (HXE.TO), has outperformed its United States…

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Oil prices have declined by around $30 a barrel since the recent peak in early June before the Fed and other central banks started aggressive interest rate hikes to fight runaway inflation. The tightening monetary policy is expected to slow economic growth, while several financial market indicators suggest that the markets expect recessions, which could slow global oil demand growth. The most closely watched major forecasters – OPEC, EIA, and the International Energy Agency (IEA) – continue to expect growth in global oil demand both this year and next, with…

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Saudi Arabia emerged as the second-biggest oil supplier to India after a three-month gap, overtaking Russia by a thin margin, while Iraq retained the top spot in August, data from industry and trade sources showed. India, the world’s third largest oil importer and consumer, shipped in 863,950 barrels per day (bpd) of crude from Saudi Arabia, up 4.8% from the previous month, while purchases from Russia fell 2.4% to 855,950 bpd, the data showed. Despite Saudi’s gain, the share of oil from Organisation of the Petroleum Exporting Countries in India…

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As oil prices continue to plunge, with the latest selloff triggered by a surprise crude build and another release from the Strategic Petroleum Reserve, commodity analysts at Standard Chartered say the oil market is not fundamentally broken but is rather merely responding to a surplus.  In its latest commodities market update on Thursday, StanChart says that the global oil market is currently in excess supply, with the U.S. transferring an average 0.83 million barrels per day (mb/d) into commercial inventories in the third quarter.  StanChart analysts estimate the Q3 surplus…

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Pakistan Water and Power Development Authority (Wapda) Chairman Lt Gen (Retd) Sajjad Ghani on Wednesday visited the Dasu Hydropower Project, being constructed on the river Indus, upstream of Dasu town in Upper Kohistan district of Khyber Pakhtunkhwa. The chairman, accompanied by member (Water) Wapda and Commissioner Hazara division, witnessed construction activities on various sites of the project, including inlet areas of the diversion tunnels, main access tunnel, power house cavern, right bank access road, Wapda colony and the contractor’s camp. The Dasu project management and representatives of the consultants and…

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