The Cabinet Committee on Energy (CCoE) on Friday approved allocation of pipeline capacity to two new LNG terminal developers to facilitate their investment in the additional gas infrastructure and once again decided to dissolve Pakistan Electric Power Company (Pepco).The company was disbanded twice in the past. A meeting of the CCoE, presided over by Planning and Development Minister Asad Umar,…
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The business community has lambasted the Sui Southern Gas Company (SSGC) for shutting down gas supply for 72 hours to the industrial sector. Businessmen Group (BMG) chairman Zubair Motiwala in a statement on Friday asked the SSGC to immediately restore supply to industries as gas suspension would terribly affect production and it would become difficult to fulfil their commitments. Mr…
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This publication is an authentic source of data and information and a must read for all the stakeholders according to their needs, interest and comprehension. SOI has reported 140 major cases and determinations indicating that Nepra has been quite busy during the outgoing year. SOI highlights a lot of issues which may not mean that it agrees and wants to…
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October 6: Federal Minister for Economic Affairs Omar Ayub Khan said on Tuesday afternoon that Pakistan would be a regional hub for transit trade and investment opportunities in the near future thanks to CPEC. In a meeting here with The Kazakhstan Ambassador Yerzhan Kistafin at his office, Khan highlighted that there was huge potential for enhancing bilateral trade and investment…
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West Texas Intermediate crude futures, the U.S. oil benchmark, crossed $80 per barrel on Friday for the first time since November 2014 as demand rebounds while supply remains tight. The U.S. oil benchmark jumped more than 2% to trade as high as $80.09 on Friday, before easing from that level and hovering around $79.70 at 11:30am on Wall Street. Brent…
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Initially sparked by supply chain disruptions associated with the Covid-19 pandemic, a worldwide shortage of microchips has intensified in recent months, largely due to a new round of lockdowns in Southeast Asia. Given the impact on strategically important sectors like automotive, efforts are underway to prevent similar issues in the future. Microchips – also known as superconductors – are the…
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Asia-Pacific spot LNG prices hit a fresh record high Oct. 6, with the JKM benchmark surpassing $50/MMBtu for the first time ever as the gas price crisis in Europe grows more severe, increasing global competition for LNG cargoes. Surging European gas prices were exerting significant upward pressure on Asia-Pacific LNG cargo prices as trading houses and portfolio groups raised their…
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Stocks on Wednesday extended losses led by cement as record world coal prices are seen denting the sector’s profitability big time, dealers said. After losing 293 points or 0.7 percent the KSE-100 Shares Index closed at 44,373 points at Pakistan Stock Exchange (PSX). Topline Securities in a post market note said equities continued to decline as benchmark index settled down…
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A surge in Asian spot LNG prices to record highs ahead of the peak northern hemisphere winter demand season has sparked questions on where the price ceiling for the fuel is. But the answer may depend entirely on European gas hub prices, industry participants said. The front half-month ANEA price, the Argus assessment for spot LNG deliveries to northeast Asia,…
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Freight rates to ship liquefied natural gas (LNG) rose to multi-month highs this week as a surge in demand for the super-chlled fuel has increased the need for vessels to move supplies, multiple trade and shipping sources said. The daily charter rate for a tri-fuel diesel-electric (TFDE) vessel that can carry 160,000 cubic metres of LNG to Pacific basin ports…
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