Big Oil majors, including Exxon, BP, Shell, and Chevron, may be subpoenaed to turn over financial documents as part of a congressional probe into alleged disinformation about the effect of the industry on the climate. “Today’s witnesses refused to take responsibility for big oil’s decade-long disinformation campaign,” said the chairwoman of the Committee of Oversight and Reform, as quoted by…
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Global crude steel production declined in September, marking the fourth straight month of month-over-month declines. Global crude steel production falls to 144.4 MT September global crude steel production fell to 144.4 million metric tons, the World Steel Association reported this week. Metals producers around the world have felt the burden of rising energy costs, as we’ve noted in previous articles.…
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US President Joe Biden heads to a climate gathering this weekend without a commitment on tackling global warming after his deeply-divided Democrats failed to get behind his sweeping economic agenda. Biden had wanted to show the landmark COP26 conference in Scotland that Washington is leading the world on decarbonizing, but the package of social reforms containing his signature climate policy…
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Gilgit Baltistan (GB) Chief Minister Muhammad Khalid Khurshid Khan Friday said the projects under China Pakistan Economic Corridor (CPEC) would be completed timely and meet the expectations of the population who felt deprivation during the previous years in the development process. He was speaking at the “Regional Dialogue on the Role of Parliament in Promoting Trade, Agriculture and Tourism under…
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Pakistan is all set to have a diverse representation at the 26th Conference of the Parties (COP-26) in Glasgow where the key negotiations would open up with a debate on developing countries’ plight of bearing the brunt of environmental degradation caused by the developed countries, said Dr. Abid Qaiyum Suleri, Executive Director, Sustainable Development Policy Institute (SDPI). Dr. Suleri was…
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Oil and Gas Development Company Limited (OGDCL) on Friday announced the financial results for the first quarter of the current fiscal year ended on September 30, posting a profit of Rs 33.630 billion. “Net sales revenue clocked at Rs 71.530 billion translating to profit after tax of Rs 33.630 billion and earnings of Rs7.82 per share,” the OGDCL said in…
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Consumers in Karachi, Islamabad and other cities have faced a shortage of petrol at some fuel stations, just two days after petroleum dealers announced that they would observe a nationwide strike the next week.All Pakistan Petroleum Dealers Association or APPDA, a body representing pump owners, is demanding a hike in dealers’ margin on the sale of petrol.On Tuesday, APPDA Chairman…
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The government may increase petroleum prices by up to Rs8 per litre for the next 15 days if it decides not to increase existing tax rates. Informed sources said the government was still undecided if it should start jacking up petroleum levy with effect from November 1 or 16. Overwhelming consideration is that increase in levy should take place by…
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Having soared to an all time high as recently as one week ago, Chinese coal futures have lost nearly half of their value in the past seven days in a sequence of limit down days as Beijing unleashed its latest crackdown on a commodity it felt was mispriced despite urging energy firms to “secure supplies at any price” less than…
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Sindh chief Minister Syed Murad Ali Shah has said that Manora Waterfront Beach is one of the beautiful recreational places his government has developed to provide a safe, secure, neat and clean family recreational place for the people of this city.“We are planning to develop a Jetty at Seaview to start ferry service from the Clifton area to Manora beach.” This…
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