Category: Highlights

Crude oil prices resumed their climb on Thursday, reclaiming some of the ground lost over the last month. At 1:30 p.m. ET, the WTI benchmark was trading at $91.09, a 3.38% gain on the day. WTI prices are still down from the $100+ barrel mark seen last month, as recession fears took hold of the market, threatening to subdue crude demand growth. Crude oil prices are still nearly $20 over where they were at the start of the year, and roughly $28 per barrel gain over the last 12 months.…

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Considering LONGi’s mission and vision towards effective implementation of local and international environmental standards. The Governing Body of National Forum for Environment & Health (NFEH) decided to award LONGi 19th Annual Environment Excellence Awards (AEEA 2022)! It was received by Mr. Ali Majid, General Manager; Mr. Ghulam Mustafa, Senior Manager, and Mr. Osman Mohammad, Products and Solutions Manager of LONGi during the award ceremony! In the past two decades, LONGi have been working on improving PV conversion efficiency and reducing the cost of PV products with technological advances. It turned…

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The Board of Directors of Shell Pakistan Limited (SPL) announced the Company’s half year results on August 17th, 2022. The Company posted a profit after tax of Rs7.469 billion compared to the profit of Rs2.153 billion made in the same period last year. The encouraging turnaround is mainly driven by improved business performance focusing on strategic priorities such as differentiated fuels and lubricants, the positive change in pricing formula to pricing agency S&P Global Platts’ indexes by the government, and safe and efficient fuel operations. During this period, the Mobility…

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Natural gas demand in major consuming countries stood in June at 104 percent of year-ago levels, but production was flat compared to 2021 levels, new data from the Joint Organisations Data Initiative (JODI) showed on Wednesday. While U.S. natural gas production has been rising in recent months alongside LNG exports, Russian gas production has plummeted since Russia invaded Ukraine at the end of February. In June, Russian gas production plummeted 18 percent month on month, falling for three consecutive months. Russia’s gas output in June was at 70 percent of…

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Oil prices have tanked more than 20% to trade under $100 a barrel, but Brent crude could see a reversal this year as supply in the global market remains tight, UBS said Wednesday.  Brent crude, the international benchmark, slipped during Wednesday’s session to $93.33 a barrel. The commodity has lost 25% since mid-June when it traded above $125 a barrel. The fall has also knocked Brent back to levels seen in late February, before Russia’s invasion of Ukraine propelled a price surge.  Concerns about potential recessions in the US and in…

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