Category: Highlights

According to SCA, the 6% hike year/year takes effect in early Feb. 2022. Cruise ship and LNG carrier tolls will remain at 2021 levels, the canal owner and operator stated. SCA Chairman Admiral Osama Rabea said that LNG carrier transit fees will remain at 2021 levels to align with recently approved action — effective Nov. 1 — to lower the toll rebate for such vessels from 25% to 15%. He added that keeping tolls flat for cruise ships stems from the SCA’s recognition that such vessels — as part of the travel…

Read More

The US Geological Survey (USGS) is proposing both metals be included in the redrafted critical minerals list. The list has grown from 35 to 50 since the last iteration in 2018, but that largely reflects the splitting out of rare earth elements and precious group metals into separate entities. Four minerals – helium, potash, rhenium, and strontium – have been dropped. The United States is the world’s leading producer and net exporter of helium, while import dependency for the other three is mitigated by “low disruption potential”. Uranium was also dropped after…

Read More

Pakistan’s oil import bill soared nearly two-fold in the first four months of the current fiscal year, fueled largely by both higher global prices and increasing domestic demand. In the months (July-October FY2022) under review, fuel import bill registered almost 96 percent growth by going up to $6.197 billion compared to $3.168 billion in the same months in the last fiscal (FY2021). “Global oil and RLN (regasified liquid natural gas) prices mainly pushed up the cost of imports of petroleum products,” analysts believed and pointed out that growth in domestic…

Read More

Oil and gas will have a role to play in the energy system for decades to come, BP’s chief executive Bernard Looney said on Monday, adding that the industry should try to produce hydrocarbons with the lowest emissions possible. Any scenario, even the International Energy Agency’s Net-Zero by 2050 scenario, predicts that there will still be demand for oil in 2050, Looney told CNBC on the sidelines of the ADIPEC energy conference in Abu Dhabi. According to the IEA’s Net-Zero by 2050 scenario, in a world on track to achieve net-zero emissions within…

Read More

The Ministry of Energy has asked the Oil and Gas Regulatory Authority (Ogra), gas utilities and the sponsors of two upcoming LNG terminals to proceed with the execution of a gas transportation agreement (GTA), but a lower allocation of firm pipeline capacity has worried investors. In a letter issued on November 12, the energy ministry (petroleum division) has notified that based on a summary of the Ministry of Maritime Affairs, the Cabinet Committee on Energy (CCoE) had on October 8 “approved the proposal of the petroleum division presented in the…

Read More