As the hot winter approaches, EU gas prices have jumped 9 % for December 2022. The gas prices in the EU had been steady earlier due to mild weather. During the trading on Thursday, spot prices for natural gas in the EU exceeded $1,400 per thousand cubic meters which witnessed a rise of 9%, according…
Does the US dream of reducing Russian gas supplies to Europe come true now that Russia is the EU’s second-largest gas supplier? The United States (US) has been overly optimistic in its demand that Europe cut its reliance on Russian gas supplies. After the United States witnessed a boom in shale and oil discoveries, it…
Ibn-e-Ameer Pakistani oil refineries produce furnace oil in Pakistan. However, when its demand goes up to meet the country’s needs, Pakistan State Oil (PSO) imports it. After LNG imports, its demand has been low due especially the use of LNG in the power sector. Pakistani refineries like Byco and Parco have been exporting it now…
Pakistan’s oil sales went up by 9% from the previous month to 1.66 million tons in October 2022. This was mostly due to better access after the floods, the start of the Rabi sowing season, and lower prices compared to the previous month. HSD/MOGAS increased by 37/8% MoM respectively while FO declined by 33% MoM….
There has been much talk about electric cars that are said to replace fuel-based cars in the world. Amid rising energy prices, the affordably of electric cars is more important than anything else. Recently, energy prices had gone up following covid-19 that affected the entire world. So, electric cars will also need electricity for charging….
The falling price of coal on the worldwide market may cause electricity rates to drop by up to Rs 1.5 per unit. According to the most recent information available with NEPRA, the cost of producing energy from coal in September 2022 was about Rs. 18/kwh, while the average price of coal was about US$310–320 per…
According to a government decision made on Monday, oil prices will remain steady for the next two weeks starting on November 1, 2022. Expectations had been made that the government will lower the price of gasoline in response to changes in the price of crude oil globally. The price of gasoline was predicted to decrease…
Economic Coordination Committee (ECC) on Monday approved Rs 6 per liter increase in margins of oil marketing companies (OMCs). The Ministry of Energy (Power Division) presented a summary of the revision of oil marketing companies (OMCs) margins on petroleum products. After comprehensive discussion, ECC approved the summary in principle and allowed the agreed revised margin…
The Economic Coordination Committee (ECC) on Monday approved the import of 0.3 million tons of wheat from Russia on a government-to-government basis. Pakistan will import at a rate of $372 per ton. Earlier, ECC had approved the import of wheat at $373 per ton through a tender by TCP. So, the deal with Russia is…
Zafar Iqbal Prime Minister Shehbaz Sharif seems to be trying to restore the confidence of China in the China-Pakistan Economic Corridor (CPEC) which was shattered by the PTI government led by former Prime Minister Imran Khan. The ouster of former Prime Minister Imran Khan who is currently leading a long march against the Shehbaz-led coalition government…