Liquefied natural gas traders are following the latest trend in the oil market by storing huge amounts of the commodity on tankers, hoping prices will rise before the ship docks. But while crude can sit for months or even years in a tank, super-chilled LNG tends to evaporate even in the specialized vessels that handle it. That limits the amount…
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In a less spectacular fashion than oil, international natural gas prices have fallen. The explanation goes far beyond low demand related to the COVID-19 pandemic or demand in general. It relies on a much larger and more complicated array of factors that include supply and demand and oil pricing. Disentangling those various considerations can be helpful when trying to assess future…
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OPEC will invite the U.S. oil regulator to take part in the emergency OPEC+ video meeting on Monday, a source involved in the preparation of the meeting told Russian news agency TASS on Friday. The OPEC+ group of producers will meet online on April 6 to discuss a possible massive production cut of around 10 million bpd, according to several media reports.…
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Baker Hughes reported that the number of oil and gas rigs in the US fell again this week by 64, falling to 664, with the total oil and gas rigs clocking in at 361 fewer than this time last year. It is the largest single-week drop since March 2015. It is the fewest number of active rigs since January 2017.…
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MANILA, PHILIPPINES (3 April 2020)— Fostering greater innovation would bring faster and more inclusive economic growth in Asia and the Pacific, according to the theme chapter of the Asian Development Outlook (ADO) 2020 released by the Asian Development Bank (ADB) today. “Developing Asia invests 2.1% of its gross domestic product in research and development, but there are wide variations across countries,” said ADB…
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Karachi- 2nd April, 2020: Reflecting Pakistan’s growing stature in the international financial space, JS Bank, one of the country’s fastest growing financial institutions won the ‘Best bank for SMEs’ and ‘Best bank for CSR’ awards at the Asiamoney Awards 2020. The Bank has won the Asiamoney Best Bank for SME award in 2019 as well. 2019 was a year of growth and development at JS…
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ISLAMABAD: Cabinet Committee on Energy (CCoE) has constituted a sub-committee to deliberate the matter on a summary moved by the Petroleum Division regarding negotiations with the LNG terminal companies. Minister for Planning, Development and Special Initiatives Asad Umar chaired a meeting of the CCoE on Thursday. On a summary of the Petroleum Division regarding negotiations with the LNG terminal companies,…
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ISLAMABAD: Faced with increasing liabilities in the energy sector, a cabinet committee on Thursday decided to engage with private investors in the Liquefied Natural Gas (LNG) terminals and power projects to renegotiate terms of their capacity payments, return on equity and exchange rate indexation. A meeting of the reconstituted Cabinet Committee on Energy (CCoE) led by Planning Minister Asad Umar…
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ISLAMABAD: The federal government on Thursday worked out the impact of losses of pandemic COVID-19 virus on some sectors of the national economy and shared the initial assessment that total losses stood at the whopping figure of Rs 2.5 trillion, reported The News. Official estimates first time shared with a selected group of reporters in the aftermath of the outbreak of…
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