Trafigura Scores $3 Billion Profit on Commodities Rebound

Trading house Trafigura Group Pte. Ltd. rode rising commodity prices to post record profit, making it a big winner from the pandemic economic rebound. Trafigura reported $3.1 billion in net profit on $231.3 billion in revenue in the 12 months through September. Wednesday’s results made the 2021 financial year the most profitable for the company since it was founded in 1993. Trafigura’s profit almost doubled from 2020, at that time a record year for the company, which scored by loading up on cheap barrels of oil when prices dropped early…

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Pakistan Fully Committed To Utilizing Indigenous, Renewable Resources For Power Generation

During the Meeting with Senior Vice President Operation, International Finance Corporation (IFC) Ms Stephanie von Friedeburg, Federal Minister for Energy Muhammad Hammad Azhar said that Pakistan was emphasizing on utilization of indigenous, renewables and environmentally clean energy generation resources.While highlighting the initiatives taken in the power sector, the Federal Minister informed the senior IFC official that Pakistan was endeavouring to increase the share of renewable energy in the national grid and making a transition from a single buyer market to the whole electricity market which would encourage private sector participation…

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K-Electric, Government Of Sindh, And World Bank Sign Mou To Add 350 MW Of Solar Power Projects In Karachi

December 10, Karachi: Committed to the aim to expand its portfolio of clean energy, KE has allied with Sindh Energy Department (SED) and the World Bank to develop a solar park with an aggregate capacity of 350 MW under the ambit of the ‘Sindh Solar Energy Project’ (SSEP). The objective of SSEP is to increase solar power generation and access to electricity in Sindh Province. The purpose of this tripartite arrangement – formalized today with the signing of a Memorandum of Understanding (MoU) – is to develop and implement sustainable,…

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The U.S. Looks To Beat Qatar To Become The World’s Top LNG Exporter In 2022

The United States will have the world’s largest liquefied natural gas (LNG) export capacity next year, exceeding the capacity of the top LNG exporters Australia and Qatar.   Thanks to a growing number of U.S. LNG export projects coming into service,  by the end of 2022, U.S. nominal capacity will increase to 11.4 billion cubic feet per day (Bcf/d) and peak capacity to 13.9 Bcf/d across 7 LNG export facilities and 44 liquefaction trains, the Energy Information Administration (EIA) said in its latest natural gas weekly update last week.  Thanks to liquefaction trains…

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OGRA Continues to sale LNG at low prices

ISLAMABAD (Dunya News) – Oil and Gas Regulatory Authority (OGRA) announced to continue selling the Liquefied Natural Gas (LNG) at low prices during second month of its price hike in international market. According to the notification issued by OGRA, price of Sui Northern Gas was decreased by $3.05 per MMBTU while that of Sui Southern System was decreased by $3.04 per MMBTU during the month of December. It is pertinent to mention her that the new price of LNG in Sui Northern system was declared to be $12.62 per MMBTU…

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