Category: Highlights

The Punjab Public Private Partnership Authority (PPPA) may execute different mega projects, especially in agriculture, infrastructure and renewable energy sectors worth Rs 150 billion. These projects included construction of a modern and planned agri market in Gujranwala, setting up of cold chain facility, energy generation from solar and biomass, solar street lighting on southern loop of the Lahore Ring Road, construction of 500-bedded hospital, Multan-Vehari Road and Faisalabad Chiniot Sargodha Road. “We are looking forward to international donor agencies to play their role in funding these projects instead of merely…

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The world’s biggest independent oil trader said crude prices, already up more than 10% this year, could rise even more because of tight supplies. “These prices are justified,” Mike Muller, head of Asia for Vitol Group, said Sunday. “Strong backwardation is very much justified,” he said, referring to a bullish pattern whereby near-term futures are more expensive than later ones. Oil posted a fourth-straight gain last week, its longest rising streak since October, amid signs consumption will hold up despite the spread of the omicron variant of the coronavirus. At…

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U.S. natural gas futures were little changed on Friday ahead of the long Martin Luther King Jr Day holiday weekend as the market took a break after extreme, weather forecast-related volatility earlier in the week. Earlier in the week, prices soared 14% on Wednesday on colder forecasts – their biggest one-day percentage increase since September 2020 – and dropped 12% on Thursday after those forecast turned less cold – their biggest one-day percentage decline since January 2019. With extreme cold possible at any time and strong memories of price spikes…

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UK’s gas grid will be ready to blend up to 20% hydrogen into gas networks across the country from 2023, the Energy Networks Association said in a statement Jan. 13. ENA called on the UK government to increase its hydrogen production capacity target to 10 GW by 2030, up from the current target of 5 GW by that date, to ensure sufficient supply is available, and encourage domestic production. It also called on the government and regulatory bodies to make the legal changes required for gas network companies to start…

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Members of both parties oppose the Nord Stream 2 natural gas pipeline from Russia into Germany, but that hasn’t stopped the project from becoming mired in the U.S. political dysfunction. Senate Democrats yesterday, at the behest of the White House, blocked legislation from Sen. Ted Cruz (R-Texas) to impose immediate sanctions against a conduit that is already complete but not yet operational. In total, 44 Democrats, along with Sen. Rand Paul (R-Ky.), voted against the bill. Six Democrats — all of whom represent presidential swing states and four of whom…

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