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India, a western ally, is openly buying Russian coal, oil and weapons worth tens of billions of dollars at deep discounts. These actions amount to busting western sanctions and financing President Vladimir Putin's war on Ukraine. Many smaller developing countries, including Bangladesh and Pakistan, are abiding by these sanctions and suffering from the consequences in terms of high prices of fuel and food. Why these double standards? Do these policy contractions serve the broader US interests…
ContinueAdded by Riaz Haq on June 26, 2022 at 1:00pm — 50 Comments
Oil consumption in Pakistan jumped 19% to 20.8 million tons in 2021, a strong indication of the country's economic recovery from the COVID-impacted 2020. In addition to oil, Pakistanis also consumed nearly 4 billion cubic foot of natural gas every day. Energy is fundamental to the functioning of any economy. …
Added by Riaz Haq on January 5, 2022 at 9:00pm — 19 Comments
Soaring LNG prices are adversely affecting Pakistan's balance of payments and threatening the nation's post-COVID economic recovery. Pakistan's trade deficit has widened to nearly $12 billion in July-September 2021 quarter, up more than 100% from the same period last year. The nation's heavy reliance on expensive imported energy has been the main cause of prior balance of payments crises that have…
ContinueAdded by Riaz Haq on October 12, 2021 at 9:30am — 24 Comments
Prime Minister Imran Khan has recently raised Pakistanis' hopes of ExxonMobil and ENI being on the verge of a massive discovery of offshore oil and gas reserves in Pakistan. Is this real? Or mostly hype? What is the size of these reserves? Will it be more than sufficient to meet Pakistan's current needs of over 200 million barrels of oil per year? Will Pakistan become a net…
ContinueAdded by Riaz Haq on May 1, 2019 at 11:00pm — 5 Comments
Blowout concerns have stopped offshore drilling in Pakistan yet again. It was underway to confirm discovery of oil and gas in at Kekra-1 well in G-bloc with pre-drill estimate of over 1.5 billion barrels of oil. It was scheduled to restart on April 20, 2019 after pause of 12 days, according to Pakistani media reports. Now it is delayed until the…
ContinueAdded by Riaz Haq on April 27, 2019 at 6:00pm — 2 Comments
Pakistan's consumption of oil and gas has rapidly grown over the last 5 years, an indication of the nation's accelerating economic growth. Pakistan is among the fastest growing LNG markets, according to …
ContinueAdded by Riaz Haq on November 15, 2018 at 2:00pm — 43 Comments
Pakistan made two key oil and gas discoveries in the third quarter and another three discoveries in the fourth quarter of 2017. These discoveries may have prompted the US-based Exxon-Mobil to join off-shore drilling efforts in Pakistan. American energy giant's entry in Pakistan brings advanced deep sea drilling technology, its long experience in offshore exploration and production and its deep pockets to the country. US Energy Information Administration …
ContinueAdded by Riaz Haq on June 18, 2018 at 7:00pm — 23 Comments
Pakistan joined the list of LNG importers last year and promptly became one of the world's fastest growing LNG markets, according to Shell 2017 LNG report. The South Asian nation has suffered a crippling …
ContinueAdded by Riaz Haq on September 29, 2017 at 10:30pm — 29 Comments
Added by Riaz Haq on February 19, 2016 at 5:00pm — 6 Comments
Pakistan is known to have significant natural gas deposits trapped in the form of methane hydrates in sedimentary rocks off the coast of Baluchistan. Tragic as yesterday's earthquake is in terms of loss of human life, it may also have triggered the release of substantial…
ContinueAdded by Riaz Haq on September 25, 2013 at 8:30am — 8 Comments
There are strong rumors that Kingdom of Saudi Arabia has joined the United States to oppose Iran-Pakistan gas pipeline project for which Pakistan is trying to arrange financing in the face of tightening US sanction on Iran.
The Chinese have already pulled out of the project after the US imposed sanctions on banks and other entities dealing with projects and transactions involving Iran. Russia's Gazprom is reportedly interested in financing and constructing the Pakistan section of the…
ContinueAdded by Riaz Haq on April 17, 2012 at 5:00pm — 10 Comments
US natural gas prices have fallen below $2 per million BTU (approx 1000 cubic feet), about one-sixth of the price Pakistan has agreed to pay for Iranian gas. With over 50 trillion cubic feet of known shale gas reserves in Sindh alone, Pakistanis can also enjoy the benefits of cheap and abundant source of energy for decades via…
ContinueAdded by Riaz Haq on April 12, 2012 at 6:30pm — 4 Comments
Pakistan has over 50 trillion cubic feet of shale gas reserves, according to the US Energy Information Administration (EIA) estimates. It's enough to energize Pakistani homes, businesses, power plants, CNG vehicles, fertilizer plants and factories for 25 years at a rate of 2 trillion cubic feet of consumption per year at…
ContinueAdded by Riaz Haq on April 4, 2012 at 6:00pm — 2 Comments
Reports of new gas reserves of 40 trillion cubic feet (upped to 105 TCF in 2013 by US EIA) are specially welcome at this moment in Pakistan when it is facing a very serious and growing energy crisis. The…
ContinueAdded by Riaz Haq on May 15, 2011 at 10:30am — 25 Comments
Added by Riaz Haq on January 13, 2010 at 9:57pm — 24 Comments
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Aaron Bushnell, an active serviceman in the United States Air Force, burned himself to death in front of the Israeli Embassy in protest against the US policy in Gaza. Before setting himself on fire in what he called an "extreme act of protest", he said he would "no longer be complicit in genocide". Polls show that the vast majority (63%) of Americans want an immediate end to the carnage being perpetrated by Israel in Gaza. …
ContinuePosted by Riaz Haq on February 27, 2024 at 5:30pm
Independent candidates backed by the Pakistan Tehreek e Insaf (PTI) party emerged as the largest single block with 93 seats in the nation's parliament in the general elections held on February 8, 2024. This feat was accomplished in spite of huge obstacles thrown in front of the PTI's top leader Imran Khan and his party leaders and supporters by Pakistan's powerful military…
ContinuePosted by Riaz Haq on February 16, 2024 at 9:22pm — 1 Comment
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