Category: Highlights

The news is out. As per Business Recorder exclusive, there is nothing concrete coming from Qatar. The vibes coming from Qatar are similar. Now it’s out in the public. The government was initially looking at getting deposits from Qatar. Got a plain no on it. The next in line are investments. Government is attempting to put everything under the sun for sale. But only doable investments in the next 3-6 months, where some initial work is being done, are selling of two RLNG power plants and Energas RLNG terminal where…

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Russia won’t immediately resume exports of natural gas to Europe through its Nord Stream 1 pipeline, worsening a shortage that threatens to tip the continent into an energy crisis this winter. On Friday, Russian state energy giant Gazprom said it would not resume flows through the pipeline on Saturday as planned because it had detected an oil leak at its Portovaya compressor station. The pipeline has been shut since Wednesday for maintenance.It didn’t give a timeline of when exports might resume. “Until the issues on the operation of the equipment…

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German is acquiring liquefied natural gas (LNG) terminals as part of its efforts to diversify away from Russian gas. It leased four floating storage and regasification units (FSRUs) in May capable of importing at least 5 billion cubic metres (bcm) of seaborne gas per year, two of them due to become available this year. Wilhelmshaven will become the first LNG hub and Brunsbuettel the second, to be developed by Uniper and RWE, respectively.The Elbe river port of Stade and Lubmin on the Baltic Sea will receive the two other FSRUs,…

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Refining margins for 180-cst high sulphur fuel oil remained weak on Friday despite an uptick in cash differentials over recent trading sessions. The front-month crack was at a discount of $20.60 per barrel at the Asia close (0830 GMT) on Friday, declining further compared to an average discount of $16.59 per barrel over last month, based on Refinitiv data. Fuel oil demand for power generation is expected to soften further as peak summer has retreated in the Middle East, while plentiful supplies weigh on the market. Spot trading activity was…

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Capping the price of Russian oil, an approach G7 members said Friday they want to pursue “urgently,” would be an unprecedented move and one which some analysts say could backfire. Russian oil would be purchased at a discount from prevailing market prices, to limit Moscow’s profits as it prosecutes its war against Ukraine; but it would keep the price above the cost of production to ensure incentive for its export. The discounted rates, calculated separately for crude oil and refined petroleum products, could be regularly revised, according to a US…

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