KARACHI: Amid the coronavirus lockdown, the southern port city will witness a heatwave from May 5 to 8, the Meteorological Department said on Friday. Met department Director Sardar Sarfaraz said that during the time period, mercury can rise up to 42 degrees Celsius in Karachi. Sarfaraz said that during the heatwave, the sea breeze will remain suspended. Due to hot…
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The oil crash is blocking American frackers from accessing the cheap credit that fueled their prolific rise. That reversal of fortunes could prove fatal for overleveraged shale oil companies.The downturn in the oil industry has laid bare just how much America’s rise to superpower status in the energy world was made possible by easy money. Virtually unlimited borrowing allowed shale…
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Pakistan State Oil (PSO), the leading oil marketing company of Pakistan, convened its Board of Management (BoM) meeting to review the company’s performance during the nine months of fiscal year 2019-20 which concluded on March 31, 2020. According to the details released by the company here on Thursday, despite serious challenges faced by the economic and business world amid Covid-19…
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KARACHI: A civil society group striving to promote renewable energy and climate justice has welcomed the recently-released power sector audit report and demanded establishment of a parliamentary commission to further examine its findings and look into the entire matter afresh with a broader social, economic, financial and environmental lens in the current scenario of COVID-19. While terming the audit report…
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Petrol prices in Pakistan drop by Rs 15 . The Oil and Gas Regulatory Authority (OGRA) has suggested government to decrease the petroleum products price . As per the suggestions government announces to reduce Rs15 in petrol price. According to the details, the authority has recommended the price by Rs 44 from the next month (May). The suggested price of…
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While rebutting most of the claims of a nine-member committee’s 296-page report, Independent Power Producers (IPPs) asserted that the main reason for high power tariff in Pakistan is higher Transmission and Distribution (T&D) losses and taxation. Independent Power Producers Advisory Council (IPPAC) have sent consolidated reply of all its members to the concerned public sector stakeholders which is expected to…
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COVID-19 is expected to cause global energy emissions to fall a record eight percent this year due to an unprecedented drop in demand for coal, oil, and gas, the International Energy Agency said Thursday. The IEA’s Global Energy Review was based on an analysis of electricity demand over more than 100 days, during which much of the world has entered…
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Oil prices jumped on Thursday, as signs the US crude glut was not growing as quickly as many had feared brought an upbeat close to one of the most volatile months for oil trading in history. Fuel demand worldwide slumped about 30% in April. Even after major oil producers led by Saudi Arabia agreed to slash production by nearly 10…
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ISLAMABAD: Oil and Gas Regulatory Authority (OGRA) on Thursday increased Liquefied Petroleum Gas (LPG) prices in the country for the month of May 2020, ARY NEWS reported. According to a notification issued today, the per kilogram prices of the LPG was raised by Rs 21.65 which would increase the price of LPG cylinder by Rs 255.51. The new rates for…
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Prime Minister Imran Khan has expressed the resolve to chalk out a comprehensive vision to improve living standard of common people and to bring people out of poverty. Addressing a ceremony in Islamabad on Thursday, he said self-belief is panacea for development, progress, and self-reliance. He said we have to go towards knowledge economy, education, science and technology to get…
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