Category: Highlights

Chinese state-owned CNOOC’s recent LNG term supply deal with US supplier Venture Global marks at least the 22nd term supply agreement signed by a northeast Asian buyer this year, reflecting a growing trend among the region’s LNG buyers to move away from spot transactions towards term deals. This indicates a radical shift from just about a year earlier, when buyers shied away from long, seemingly rigid term commitments and swarmed into the spot market, which offered relatively more flexible and enticing options to meet their LNG requirements. But the tables…

Read More

Federal Minister for Planning, Devel­opment and Special Initi­atives Asad Umar has said that Pakistan has simplified the process of investment in Special Economic Zones (SEZs) not only for Chinese companies but also for other international companies. Speaking at a ceremony held for the distribution of awards among 27 outstanding Pakistani staff of CPEC projects at the Chinese Embassy, he said two days ago the government had approved the simplified investment process for industries and companies willing to invest and operate in the SEZs. Besides, he said, the federal and provincial…

Read More

Barrister Murtaza Wahab announced on Wednesday that the Sindh government will buy 240 buses to resolve the transport woes of the city, and 50 of them will arrive by January 31. Wahab, who is the city’s administrator, the provincial government’s spokesman and the chief minister’s law adviser, also made the assurance that the Supreme Court’s decision on the Askari Park will be implemented. “A special water supply line is being laid from Hub to facilitate the residents of District West. The second Marigold Festival will be held at the Frere…

Read More

Saudi Arabia could cut the official selling price for oil to Asian buyers in February after raising them substantially this month. According to a Reuters report citing industry insiders and poll data, the Kingdom could slash the prices for all its export grades by as much as $1 per barrel and more, which would push these prices to their lowest in three to four months. Earlier this month, Saudi Arabia raised its official selling prices for oil to Asia by $0.60 per barrel, which brought them $3.30 per barrel above…

Read More

Europe’s energy crunch is far from over, but a flotilla of liquefied natural gas (LNG) tankers from the U.S. are set to resupply the fuel-starved continent. European gas prices fell for the sixth day, the longest decline in more than a year. Even though natural gas prices are retreating from record highs, household power bills, especially in Great Britain, are likely to remain high until 2023. This year, Dutch TTF natural gas prices surged more than 400% on low supplies ahead of the Northern Hemisphere winter and Russia reducing flows.…

Read More