Saudi Arabia’s crude oil exports to the United States fell to the lowest in 35 years in October, averaging less than 100,000 bpd, Bloomberg reported, citing preliminary and historical data from the Energy Information Administration. In the week to November 27 alone, the volume of Saudi oil shipments to the U.S. fell to as little as 73,000 bpd. The average…
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Days after reports emerged that the newly opened Belarus nuclear power plant suffered an incident, authorities in neighboring Lithuania told the Baltic country’s population on Thursday to stock up on food in case of an incident at the nuclear power facility in Belarus, which is just 30 miles away from Lithuania’s capital city Vilnius. “We recommend that the population create…
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The Public Investment Fund, the sovereign wealth fund of the world’s largest oil exporter Saudi Arabia, has contacted international banks for a loan of up to US$7 billion to use for new investments, Bloomberg reported on Thursday, citing sources with knowledge of the plans. The Public Investment Fund (PIF), as the wealth fund is officially known, aims to be one…
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ISLAMABAD: The Federal Cabinet has granted “explicit” approval to the Memoranda of Understanding (MoUs) signed between four dozen Independent Power Producers (IPPs) and Government of Pakistan (GoP) to be converted into agreements, well-informed sources told Business Recorder. The government’s team has already started talks with the IPPs on the language of draft agreements aimed at finalising the pacts for final…
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ISLAMABAD: In line with the prime minister’s promise to the small & medium industries, the National Electric Power Regulatory Authority (NEPRA) has decided to decrease industrial tariff by Rs4.96 per unit. According to NEPRA, the commercial electricity price for small industries has been reduced from Rs12.96 to Rs8 per unit, effective from November 1, 2020. The new tariff, which is for…
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Scientists from Pakistan’s University of Science and Technology (MUST), the University of Poonch Rawalakot, and the Stevens Institute of Technology in the United States have developed a new cleaning mechanism for small-sized standalone PV systems that can be cheaply and efficiently deployed. The proposed system, which the academics describe as an automatic self-cleaning mechanism (ASCM), consists of a mounting structure and…
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RAWALPINDI: For the first time, an air quality monitoring mobile station was used to monitor air pollution in one of the busiest areas of the city, the Katcheri Chowk, on Wednesday. Results of the monitoring of pollution in the air from various areas of the garrison city are expected on Thursday (today), officials told The Express Tribune. The Automatic Air…
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ISLAMABAD: Pakistan will launch a Covid-19 vaccination drive in the second quarter of 2021, providing the vaccine to all citizens free of charge, Nausheen Hamid, parliamentary secretary on Health said on Wednesday. In a tweet and a separate media talk, Hamid said that the federal cabinet had approved initial funds to purchase the vaccine. “PTI government will provide the coronavirus…
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There are vast trade and investment opportunities in Pakistan, especially in Karachi, which is an international economic centre, said British Deputy High Commissioner Mike Nithariankis. He stated that the UK mission was further trying to promote economic cooperation between the two countries including a boost to trade and investment. “My job is to bring more British people to see enormous…
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The government is set to remove the moratorium on new gas connections to industrial and captive power consumers in Balochistan. The Cabinet Committee on Energy (CCOE) will take decision on the matter in its meeting. Owing to the increasing gap between demand and supply of natural gas in the country, the then prime minister, in his directive on April 18,…
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