July 11, 2020: Prime Minister Imran Khan will visit strategically important Diamer Basha Dam Project next week to review construction activities, as work on the project has commenced in the wake of swift mobilization of the Contractor to the site. Diamer Basha Dam was marred with delay of decades due to various contributing factors. However, the incumbent Government realigned the project…
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KARACHI – July 10, 2020: Engro Powergen Thar (Private) Limited (EPTL) – a majority owned Company of Engro Energy – and Sindh Engro Coal Mining Company (SECMC) – a joint venture of the Government of Sindh and Engro Energy with other corporate partners – have successfully completed one full year of commercial operations of both Block II mine and power…
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Before the pandemic put a stop to most international travel, each year millions of people flocked to Southeast Asia’s white sandy beaches, ancient temples and diverse wildlife.Last year, 133 million tourists visited the region, spurred by an increase in arrivals from China, which is now the world’s largest market for outbound travel.In some places the crowds became so intense it caused locals, environmentalists…
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ISLAMABAD: The K-Electric had informed the concerned authorities in January about its fuel requirements for the month of June but the approval for oil import was not granted in time, it emerged Saturday. During a public hearing on Friday, K-Electric chief executive Moonis Alvi had also blamed the federal government for delaying the required approvals which curtailed its power generation…
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ISLAMABAD: The K-Electric (KE) and the power regulator on Friday hinted at inducting rental power projects and doing away with peak and off-peak tariff during the period of prolonged power cuts amid severe criticism from consumers over poor service and call for ending monopoly by allowing more utilities in the country’s largest metro-politan of 15 million. These were the key…
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Global oil demand is set to crash by 7.9 million barrels per day (bpd) this year, the International Energy Agency (IEA) said on Friday, but this forecast is slightly more optimistic than last month’s expectation of an 8.1-million-bpd demand drop. The IEA, however, noted that the recent rise in COVID-19 cases and the reinstating of partial lockdowns in some countries…
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Short interest on Tesla is set to make the EV maker’s stock the first stock to hit US$20 billion in bets against it, data from financial analytics firm S3 Partners showed, as short sellers seem unfazed by Elon Musk’s open mocking in recent days. Short interest in Tesla has reached US$19.95 billion, S3 Partners data, cited by Business Insider, shows.…
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The United States and Libya are probing a suspected scheme in which eastern Libyan strongman Khalifa Haftar is allegedly paying Nicolas Maduro’s regime in Venezuela U.S. dollars in exchange for gold, The Wall Street Journal reported, quoting Western and Libyan security officials. Libya’s government, against which Haftar’s Libyan National Army (LNA) and affiliated factions are fighting in the civil war,…
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Marathon Petroleum Corp (NYSE: MPC) began restarting its 585,000 bpd refining complex in Galveston Bay that has been shuttered for more than a month now, according to Reuters sources. The complex—America’s second-largest refinery after Motiva–was shut on May 23rd as part of a massive overhaul. Marathon did not confirm the plans to restart, but the sources indicate that its 225,000…
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The record stockpile of natural gas in northwest Europe and Italy is eating into the regions’ thirst for Gazprom’s product, according to Reuters, and the Russian gas giant has lost more ground in terms of sales to the area compared to its competitors. Gazprom’s falling natural gas exports to the region have caused Gazprom’s share of the natural gas market…
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