Brent oil scores lift from Saudi price rise, China optimism, while U.S. crude weighed down by rising coronavirus cases

nergy-producing nations have “weathered the COVID-19 demand devastation storm and non-compliance [with output cuts] should become the end-of-summer theme for OPEC+,” said Moya. On Monday, West Texas Intermediate crude for August CLQ20, -0.09% was down 13 cents, or 0.3%, at $40.49 a barrel on the New York Mercantile Exchange, after posting a weekly gain of 5% on Thursday, with U.S.…

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Highest ever hydel electricity generated in 2019-20: Asad Umar

ISLAMABAD: Minister for Planning, Development and Special Initiatives Asad Umar on Sunday said WAPDA produced the highest ever hydel electricity in 2019-20 with an increase of 20 per cent, compared to the previous year. In his tweet, the minister said massive hydel capacity increase was taking place with Dasu, Mohmand and Diamir Bhasha Dams being built. “We need to rely…

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Pakistan, China ink accord for construction of Azad Pattan Hydel Power Project

ISLAMABAD: Pakistan and China on Monday signed an agreement for the construction of Azad Pattan Hydel Power Project. Prime Minister Imran Khan, Power and Petroleum Minister Omar Ayub Khan and Special Assistant to PM on Information and Broadcasting & CPEC Authority Chairman Lt Gen (r) Asim Saleem Bajwa witnessed the signing ceremony. Addressing the ceremony, the prime minister said the…

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Tracking the Sun to Boost Solar Energy

Solar-power farms could increase average yield 35% to 40% simply by mounting double-sided photovoltaic (PV) panels on trackers to follow the sun, a multinational research team reports. The team—led by Carlos D. Rodríguez-Gallegos, a research fellow at the Solar Energy Research Institute of Singapore, which is part of the National University of Singapore—analyzed, on a global basis, two types of…

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OGDCL UCH GAS FIELD PAYMENT OF LAND RENT

Islamabad (6th July, 2020) In view of media reporting based on incomplete information regarding payment of land rent by Oil & Gas Development Company Limited (OGDCL) to the landowners at Uch Gas Field, it is necessary to place a record the factual position to avoid unnecessary speculation, hype and ambiguity. The actual facts and circumstances are as follow.OGDCL’s Uch Gas…

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Germany is first major economy to phase out coal, nuclear energy

BERLIN: German lawmakers have finalised the country’s long-awaited phase-out of coal as an energy source, backing a plan that environmental groups say isn’t ambitious enough and free marketeers criticise as a waste of taxpayers’ money. Bills approved by both houses of parliament on Friday envision shutting down the last coal-fired power plant by 2038 and spending some 40 billion euros…

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Ex-MD of PSO Declared Fugitive in LNG Case

ISLAMABAD: An accountability court of Islamabad has declared Shahidul Islam, former managing director of the Pakistan State Oil (PSO), a proclaimed offender in a case pertaining to the LNG scam that also involved former prime minister Shahid Khaqan Abbasi. The accountability judge ordered the authorities concerned to block his national identity card. The decision to start the proceedings of proclamation…

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