Category: Uncategorized

Sindh alarmed by oil, gas shortage

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Pakistan is facing an oil and natural gas shortage due to a considerable decrease in local production this year. The official data revealed that the commercial supply of oil decreased by 19.8 per cent in the financial year 2018-19 compared to the past years. The Hydrocarbon Development Institute of Pakistan, under the Ministry of Energy has published the Pakistan Energy Yearbook 2019. It states that the country has seen a 6.7 per cent increase in total energy consumption during the last six years. An increase in consumption of over 130 per…

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OGRA grants licences to two virtual pipeline firms

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ISLAMABAD: In a new development, Pakistan’s private sector is going to introduce an innovative concept of virtual pipelines through cryogenic bowzers. Currently, Pakistan has two floating liquefied natural gas (LNG) terminals in Karachi with handling capacity of around 1.3 billion cubic feet per day (bcfd) of LNG. With the new concept of virtual pipelines, the government will open up the LNG market for the private sector to ship gas through such pipelines. Under this project, the private sector will not have to lay pipelines for gas transport. In a move…

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Faltering Oil Demand Is Wreaking Havoc On The Tanker Industry

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Tanker owners had a blast in the spring: nations around the world went into lockdown, oil demand slumped, and hundreds of millions of barrels of excessive supply had to be stashed somewhere—offshore. Now, tanker rates are plummeting, and while industry insiders believe there is a light at the end of the tunnel, it is a long tunnel. The tanker market is in “cash burn mode”, said the chief executive of Diamond S Shipping, as quoted by Lloyd’s List. The amount of oil in floating storage has fallen significantly since this…

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K-Electric selects Oracle Cloud to automate material planning, delivery allocation

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K-Electric, the sole electricity provider in the country’s business capital, Karachi, and nearby districts, has selected Oracle Fusion Cloud Supply Chain and Manufacturing (Oracle Cloud SCM) to automate its demand management and supply process for over 600 components of power distribution equipment.  This deployment will contribute to K-Electric’s mission to deliver uninterrupted, safe, and affordable power to Karachiites, as the new cloud offering can provide accurate forecasts to improve efficiency, reduce operational costs, and help enable K-Electric to respond quickly to increased power demand.  K-Electric will deploy Oracle Cloud SCM,…

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Man who correctly predicted US election winners since 1984 predicts Trump’s defeat

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Historian and American University professor Allan Lichtman, who has correctly guessed every United States presidential race winner since 1984, including Donald Trump’s surprise victory in 2016, has predicted that Trump will not get another term. Lichtman measures the chances of the winner based on his “13 keys to the White House” scale. The keys factor in the strength of the economy, incumbency, contests, policy changes, scandals, social unrest and even the charisma of the incumbents and challengers. As per the scale, if six or more of these statements are true,…

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