A non-binding resolution submitted by Shell with the support of a large group of investors to vote on its recently unveiled climate strategy won 88.74% shareholder support at its annual general meeting (AGM) which was held online. The plan, announced in February, aims to reduce planet-warming carbon emissions to net zero by 2050 by slowly reducing oil and gas output,…
Read More
The International Energy Agency said the world’s countries must immediately stop exploiting new oil and gas fields and building new coal-fired power plants, if global temperatures are to be kept within safe limits and 2050 net-zero targets are to be met, in a wide-ranging report issued today. This is the first time the leading energy agency, which laid out a roadmap for…
Read More
Recent signs point to a pickup in world seaborne coal trade during 2021. But it seems unlikely that the strengthening will fully reverse last year’s huge decline, and there appears to be limited potential for continued recovery next year. A sustained downdraft from environmental influences is predictable, implying a declining longer term trend in global trade volumes. The global coal…
Read More
The Economic Coordination Committee (ECC) of the Cabinet is all set to consider draft Arbitration Agreement (AA) between Karachi Electric (KE) and other public sector entities, as things are moving expeditiously after the visit of Prime Minister to Saudi Arabia. Last Sunday, Minister for Energy, stated “Federal Government and KE have agreed upon principles to resolve longs standing disputes”. He…
Read More
:All future fossil fuel projects must be scrapped if the world is to reach net-zero carbon emissions by 2050 and to stand any chance of limiting warming to 1.5C, the International Energy Agency said Tuesday. In a special report designed to inform negotiators at the crucial COP26 climate summit in Glasgow in November, the IEA predicted a “sharp decline in fossil fuel demand” in the next…
Read More
Pakistan will get support from the Asian Development Bank (ADB), under its Country Partnership Strategy with Pakistan (2021–2025), to build liveable cities and climate and disaster resilience for mitigating climate change challenges and their negative impacts on agriculture and other sectors of the national economy. The bank in its Climate Risk Country Profile Pakistan has projected rises in the annual…
Read More
Balochistan is the largest province of Pakistan in terms of area but unfortunately the most economically backward. It joined the Union of Pakistan voluntarily through a genuinely signed agreement. The most crucial and urgently required ‘Truth and National Reconciliation Commission’, is undeniably essential, to some extent indispensable, for this region, which is strategically located, straddling the volatile uplands of Eastern…
Read More
The Cabinet Committee on Privatization (CCoP) is likely to pave way for outsourcing the management of power distribution companies (Discos) in its meeting scheduled for today at 12 noon. The CCoP will take up a two-point agenda. It will discuss appointing experts from the private sector in the management of distribution companies and will also discuss selling off the government’s…
Read More
The Oil and Gas Regulatory Authority (OGRA) recommended the government to increase the price of petroleum products by Rs3.90 per liter, the government decided to maintain the prices, despite rising international prices. This has been done primarily by lowering the levy. The government has reduced the levy on petrol from Rs6.39 per liter to Rs4.74 per liter. Petroleum development levy…
Read More
ISLAMABAD: Prime Minister Imran Khan on Monday gave a go-ahead for the creation of a dedicated security force for petroleum exploration on the pattern of China-Pakistan Economic Corridor (CPEC) security arrangement in order to offer lucrative incentives for enhanced production of domestic oil and gas resources. While presiding over a meeting of the energy sector, the prime minister also approved…
Read More
