Unlike crude oil, where the ultimate buyer is a refinery, fuel oil and LPG can find their way to potentially thousands of small-scale industrial or residential buyers, Iman Nasseri, managing director for the Middle East with FGE
, told Reuters.
('Fortress Global' or the 'Company') (TSX: FGE
) (OTCQX: FTPLF) announces that, as a result of ongoing financial constraints impacting the Company primarily resulting from a 10-year low in dissolving pulp prices, the Board of Directors has formed a Strategic Committee to consider various strategic and financing alternatives potentially available to the Company, including a recapitalization, restructuring and/or business combination transaction.
Consequently, a reddish brown liquid in a yield of 77.4% was resulted, and which is called as furfuryl glycidyl ether epoxy resin (FGE
Sri Paravaikkarasu, director for Asia oil at Singapore-based consultancy FGE
, said retail prices of gasoline and gasoil prices would have been up to 6%, or about Rs4, higher if they had been allowed to rise in line with global prices.
Energy consultancy FGE
said these cuts meant "excess inventories are disappearing," adding that "the market is poised for prices to rise to $75 per barrel or higher" for Brent.
Lastly, the consultants FGE
had recommended that contracts of a shorter duration not exceeding five years should be considered by Pakistan as long term contracts would cost too much.