Last week, we presented a bear case for the energy sector based on the premise that oil and gas stocks could be in danger of overheating. Energy is the 4th most expensive sector going by Shiller’s P/E, and also looks overvalued compared to gold prices. It’s a sentiment that has also been gaining momentum across Wall Street. “Energy traders are confident this…
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Germany and Austria announced emergency measures on Sunday to ensure their energy needs after a drop in Russian gas supplies, including reverting to coal in what Berlin called a “bitter but indispensable” step. “To reduce gas consumption, less gas must be used to generate electricity. Coal-fired power plants will have to be used more instead,” the German economy ministry said…
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Qatar Energy signed a partnership deal with Eni on Sunday for the North Field East expansion of the world’s largest liquefied natural gas (LNG) project, having announced a deal with TotalEnergies earlier this month. Qatar Energy CEO Saad al-Kaabi said the joint venture with Eni would own 12.5% of the North Field East expansion. Eni would own 25% of the…
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There is another electric shock in the offing for the consumers as power firms have sought an increase in tariff by Rs7.96 per unit on account of fuel price adjustment for month of May 2022. The Central Power Purchasing Agency (CPPA) has filed an application on behalf of power companies, pleading the power sector regulator to allow increase in electricity…
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The government has decided to convert 3,960 MW of electricity generated from imported coal onto local coal of Thar to stop consuming the costly foreign exchange reserves for the import of coal, which is no longer available at low prices. The coal price has shot up to $400 per metric ton, a senior official at the Energy Ministry told The…
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Pakistan High tech sector is committed to upholding the highest level of defense preparedness”, was stated by Dr. Haroon Qureshi, President of Pakistan Aerospace Council in his speech at a dinner hosted in honour of Air Marshal Shahid Hamid (Retd) and Air Marshal Arshad Malik (Retd) for their lifetime achievements and services to Pakistan Aerospace & Defence Sector. Air Marshal…
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Italian company Eni on Sunday joined Qatar Energy’s $28.75b project to expand production from the world’s biggest natural gas field, days after Russia slashed supplies to Italy. Eni will own a stake of just over 3pc in the North Field East project, Qatar Energy’s CEO told a signing ceremony in Doha. Qatar announced last week that France’s TotalEnergies will be…
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Once known for its scenic beauty, habitat and natural streams, the federal capital has been fast losing its elegance due to unruly population and housing societies growth threatening its ecosystem and serenity. Its natural streams flowing out of perennial and seasonal springs of the Margalla Hills have turned into filthy and stinky drains as city manager had failed to put…
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Chief Minister Punjab Hamza Shahbaz on Saturday presided over a meeting for a proposed programme to install solar water plants in the remote areas of Cholistan. Commissioner Bahawalpur division gave a briefing with regard to installing solar water plants in Cholistan. The proposed project is believed to increase rain In Cholistan by means of latest technology was also reviewed. The…
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