Eni SPA E is planning to purchase oil and gas assets of BP plc BP in Algeria as part of efforts to realign their businesses to address the burdensome debt plaguing the companies amid climate pressures, per Reuters. Energy companies, which use carbon-intensive techniques for oil and gas exploration and production, are facing immense pressure from investors and activists to reduce emissions. Importantly, most companies…
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Half a century ago, in March 1971, Bangladesh’s founders declared their independence from richer and more powerful Pakistan. The country was born amid famine and war; millions fled to India or were killed by Pakistani soldiers. To the Pakistani military’s American backers, the new country seemed destined to fail: Henry Kissinger, then Secretary of State, famously called it a “basketcase.”…
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Chinese PV module maker Longi announced it was able to improve the efficiency of its tunnel oxide passivated contact (TOPCon) solar cell by 0.12% in just one month. According to the manufacturer, the Institute for Solar Energy Research in Hamelin (ISHF), Germany, has confirmed that the efficiency of its commercial-sized monocrystalline, n-type, bifacial product has been raised from 25.09% to 25.21%. No technical details were disclosed…
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Special Assistant to Prime Minister on Power and Petroleum has told The News that the Kingdom of Saudi Arabia will not install a refinery at Gwadar but has indicated to set up a refinery along with a petrochemical chemical complex somewhere at Hub or near Karachi. “However, there is no mentionable progress from Aramco as to when and where the…
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KARACHI: Petrol sales hit an all-time high of 731,000 tonnes in May, up by 15 per cent over the same month last year, despite restricted movement of people due to early closure of markets by 6pm and long Eidul Fitr holidays. High-speed diesel (HSD) sales also remained brisk with 761,000 tonnes as compared to 688,000 tonnes in May 2020, up…
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ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Wednesday called for reducing the expenditures for the security of oil and gas fields and expeditious clearance of a law to create a separate regulator for the petroleum upstream sector to encourage investments in the oil and gas exploration. The ECC meeting presided over by Finance Minister Shaukat Tarin also…
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The National Electric Power Regulatory Authority (NEPRA) has lowered electricity prices for the month of April 2021 by Rs0.44 per unit under fuel price adjustment. NEPRA Chairman Tauseef H Farooqi announced this on Wednesday, saying: “A decline of Rs0.87 per unit was recommended for the month of April 2021, however, after deduction of dues amounting to Rs0.43 per unit, the…
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Special Assistant to the Prime Minister (SAPM) on Climate Change Malik Amin Aslam on Wednesday announced that Prime Minister Imran Khan would announce four key “Ecosystem Restoration Initiatives” (ERI) on World Environment Day. The Prime Minister’s aide made the proclamation during a joint media interaction flanked by Special Representative of the Prime Minister on Religious Harmony Maulana Tahir Mehmood Ashrafi…
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The United States recently seized a ship and then sold off the Iranian oil it was carrying, according to reports over the weekend. Source: msn.comU.S. authorities in February seized the Liberian-flagged tanker Achilleas off the coast of the United Arab Emirates as it was transporting Iranian oil, the Associated Pressreported Monday.The U.S. government brought the cargo to Houston, Texas, where it sold…
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Qatar could become the swing LNG (liquefied natural gas) producer and its LNG expansion plans are slated to boost real economic growth and fiscal surpluses to high-single digits and mid-single digits on average over 2021-27, according to Bank of America report. “Qatar’s LNG strategy appears to be focused on defending and, in due course, growing its market share. Qatar’s structural…
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