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…
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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…
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: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…
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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…
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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…
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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…
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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…
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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…
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PESHAWAR: The Khyber Pakhtunkhwa government has approved a new financial model for the Pakhtunkhwa Hydel Development Organisation (Pedo) allowing the public sector entity to engage private lenders to finance its future projects instead of relying on government funding. An official familiar with the matter told Dawn that the Pedo Policy Board approved the new financial model on May 7 after thorough overview.…
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The oil and gas industry, which is traditionally a laggard in the adoption of connected technologies, is increasingly deploying digital twins to improve decision-making. The prevailing industry downturn from COVID-19 has heightened the need to reduce costs and make operations more sustainable with technology, according to GlobalData. Worldwide lockdowns have significantly impacted global energy demand, while also causing project delays…
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