Louisiana Light • 2 days | 73.02 | -0.64 | -0.87% | |||
Bonny Light • 31 days | 78.62 | -2.30 | -2.84% | |||
Opec Basket • 2 days | 73.65 | +0.08 | +0.11% | |||
Mars US • 321 days | 75.54 | -1.36 | -1.77% | |||
Gasoline • 16 mins | 2.055 | -0.005 | -0.26% |
Bonny Light • 31 days | 78.62 | -2.30 | -2.84% | |||
Girassol • 31 days | 79.56 | -1.80 | -2.21% | |||
Opec Basket • 2 days | 73.65 | +0.08 | +0.11% |
Peace Sour • 10 hours | 66.88 | -0.08 | -0.12% | |||
Light Sour Blend • 10 hours | 66.13 | -0.08 | -0.12% | |||
Syncrude Sweet Premium • 10 hours | 70.88 | -0.08 | -0.11% | |||
Central Alberta • 10 hours | 67.88 | -0.08 | -0.12% |
Eagle Ford • 2 days | 67.39 | -0.28 | -0.41% | |||
Oklahoma Sweet • 2 days | 67.50 | -0.25 | -0.37% | |||
Kansas Common • 3 days | 58.02 | +1.10 | +1.93% | |||
Buena Vista • 3 days | 77.67 | +1.10 | +1.44% |
OVO Energy has been ordered…
The OPEC+ alliance faces increasing…
Pakistanâs chronic energy shortages have combined with widespread perceptions that Washington is more interested in pursuing its anti-terror agenda than assisting the country financially, causing many leading figures to question the value of its relationship with the U.S.
This ambivalence extends to Islamabadâs relationship with its former colonial overlord, Britain. During recent meetings in London Pakistanâs President Asif Ali Zardari and British Prime Minister David Cameron discussed bilateral ties, trade, the war against terrorism and the situation along Pakistani-Afghan border.
None of which impacted one of the most critical issues for the average Pakistani, the countryâs unending energy crisis, Nawa-e Waqt newspaper reported.
Currently Pakistani consumers along with the countryâs industries face rolling electrical blackouts lasting from 12 to 18 hours each day, and similar shortages in the supply of natural gas.
Pakistanâs energy market is now facing a deficit of 3,000-5,000 megawatts and if the government does not develop a progressive plan to address the shortfalls, analysts estimate that within a decade electrical shortages could reach 20,000 MW.
Regional authorities have begun to look elsewhere for energy supplies, even to nations that the U.S. considers problematical. Balochistanâs provincial government has signed an agreement with Iran for providing electricity at six cents per watt, while others advocate seeking energy assistance from China.
The U.S. ambassador to Pakistan, Cameron Munter, has belatedly acknowledged the countryâs energy issues, stating that Pakistanâs number one problem is power shortage, telling journalists, âI feel saddened to see closure of the industrial units in Faisalabad or Lahore and I tried level best in Capitol Hill to convince the US Congressmen to provide Pakistan tangible help in this department.â
By. Charles Kennedy, Deputy Editor OilPrice.com
The materials provided on this Web site are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice.
Nothing contained on the Web site shall be considered a recommendation, solicitation, or offer to buy or sell a security to any person in any jurisdiction.
Trading and investing carries a high risk of losing money rapidly due to leverage. Individuals should consider whether they can afford the risks associated to trading.
74-89% of retail investor accounts lose money. Any trading and execution of orders mentioned on this website is carried out by and through OPCMarkets.
Merchant of Record: A Media Solutions trading as Oilprice.com