Category: News & Announcement

Pak Suzuki raises prices of Cultus variants KARACHI: Barely a month after it raised prices for some of its variants, Pak Suzuki Motor Company Limited has now hiked the price tag for its Cultus variants following some technological improvements. According to a notice sent by the company to its dealers on Thursday, the Japanese car assembler increased the price of Cultus VXL model from Rs1.855 million to Rs1.865 million and Cultus AGS variant from Rs1.975 million to Rs1.985 million. Prices of both models have been inflated by Rs10,000 which the company…

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ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has recommended to increase the prices of diesel and Light Diesel Oil (LDO) by Rs2.47 and Rs1.1 a litre respectively for February. However, it recommended a reduction of Re0.06 and Re0.66 a litre in the prices of petrol and kerosene respectively. Interestingly, the Brent Oil price on the international market has reduced by almost $10/barrel in one month, as on January 30, 2020 its price was $57.45/barrel against $67.45/barrel recorded on Dec 30, 2019. Its price was $62.55/barrel on November 29,$61.15/barrel on…

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KARACHI: The total liquid foreign exchange reserves of the country rose to $18.362 billion from $18.271 billion during the week ended January 24, the central bank reported on Thursday. The foreign exchange reserves of the State Bank of Pakistan increased $184 million, or 1.56 percent to reach $11.915 billion, compared with $11.731 billion in the previous week, it added. The forex reserves held by commercial banks dropped to $6.447 billion from $6.539 billion, it added.

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Islamabad, January 30: Excelerate Energy L.P. (Excelerate) and Engro Elengy Terminal Ltd (EETL) have signed a Heads of Agreement (HOA) for the expansion of the EETL liquefied natural gas (LNG) import terminal located in Port Qasim, Pakistan. Under the agreement, Excelerate will exchange its existing floating storage and regasification unit (FSRU) Exquisite with a newbuild FSRU, Hull 2477, which is currently under construction at Daewoo Shipbuilding and Marine Engineering (DSME) shipyard. Hull 2477 will increase EETL’s send-out capability by more than 150 million standard cubic feet per day (MMscf/d) and increase its LNG storage capacity from 150,900…

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The global gas glut continues to grow worse, with LNG prices recently dropping to a 10-year low.close [x]PlayUnmuteLoaded: 100.00%Remaining Time -1:01Picture-in-PictureFullscreen LNG prices in Asia recently fell below $4/MMBtu, down 40 percent from a year earlier. Prices in NW Europe (TTF) are down by nearly 50 percent, and Europe has record-high inventories for this time of year. Mild weather in Asia, Europe and the U.S. have led to seasonally weak demand, with China in particular proving to be a disappointment to exporters. But a wave of new terminals coming online in the last year…

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