The Commodity Futures Trading Commission has warned that as the expiry date for the June West Texas Intermediate contract approaches, the chances of extra price volatility have increased. The regulator told brokers, exchanges, and clearing houses that “they are expected to prepare for the possibility that certain contracts may continue to experience extreme market volatility, low liquidity and possibly negative…
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Falling prices for oil and natural gas during the novel coronavirus pandemic have prompted the closure of nearly a quarter of land-based US rigs in the United States, excluding Alaska, the Energy Information Administration (EIA) said in a report on Thursday WASHINGTON (UrduPoint News / Sputnik – 14th May, 2020) Falling prices for oil and natural gas during the novel…
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Former prime minister and Pakistan Muslim League-Nawaz (PML-N) Vice President Shahid Khaqan Abbasi on Thursday appeared before the National Accountability Bureau (NAB)’s investigation team in connection with the Liquefied Natural Gas (LNG) scam. Abbasi appeared before the NAB’s combined investigation team (CIT) at its Rawalpindi bureau. The CIT handed over Abbasi a questionnaire, which contains questions regarding evidence collected by…
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A small and tedious-looking announcement of the ratification of a bylaw relating to the issuance of securities appeared on Iranian government-affiliated websites last week and was unsurprisingly ignored by the world’s international media but not OilPrice.com. To OilPrice.com the blank statement that Iran’s First Vice President, Eshaq Jahangiri, signed off on the issuance of Islamic compliant securities in the calendar year…
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ISLAMABAD: The country’s public sector company – Pakistan State Oil (PSO) has recently defaulted on payments to LNG supplier- Gunvor – and payments on various POL products to some local refineries of PARCO (Pak-Arab Refinery Company), National Refinery Limited (NRL) and ENAR due to severe liquidity crisis that has touched new heights due to non-payment of dues of over Rs100…
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The Sindh High Court has issued notices to the ministry of petroleum, the Oil and Gas Regulatory Authority (Ogra), the Sui Southern Gas Company (SSGU) and others on the petition filed by the Petroleum and CNG Dealers Association, seeking a reduction in gas prices for the CNG sector. The petitioners told the SHC that the federal government was under a…
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Islamabad: The Morgan Stanley Capital International (MSCI) – the indexes service and analytics provider has added Mari Petroleum to its global small indexes along with PPL, replacing Nishat Mills and Sui Northern Gas Pipelines. According to MSCI the changes will take place at close of May 29, 2020, says a press release. Total number of Pakistani constituents in the small…
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ISLAMABAD (Dunya News) – Gas & Oil Pakistan Limited (GO), the fastest growing Oil Marketing Company (OMC) in Pakistan has announced that it has become the first OMC in Pakistan to introduce Electric Vehicle (EV) charging facility at its retail outlets. The first of these EV chargers, made by ABB Italy, the Swiss-Swedish multinational, has been installed at GO’s Company…
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The recent quarantine at home has boosted the growth of China’s food delivery and express delivery industries in the first quarter. As two main consumers of the electric bicycle industry, their progress also drove the sales of electric bicycles and related batteries in Q1, 2020. Recently, Chilwee Power, a battery giants in the field of light electric vehicle, announced that…
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Moody’s Investors Service – one of top three global credit rating agencies – has put Pakistan under watch for possible downgrade of its long-term local and foreign credit ratings, suspecting that Islamabad may default on debt repayments to “private sector creditors” due to economic mess under the coronavirus pandemic. “Moody’s has placed the government of Pakistan’s local and foreign currency…
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