International brands including Coca Cola and PepsiCo called on Monday for a global pact to combat plastic pollution that includes cuts in plastic production, a key growth area for the oil industry. World officials will meet at a United Nations Environment Assembly conference (UNEA 5.2) later this year to start negotiations on a treaty to tackle a plastic waste crisis…
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Despite the fact that the Economic Coordination Committee (ECC) has approved an extension in the incremental consumption package for the steel industry six months ago, Karachi industries are still waiting for an official notification. Businessmen of the city have regretted paying an extra bill owing to the delay in implementation of the decision. “Operating an industry is extremely difficult as…
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It has completed the sophisticated project in collaboration with the local and the US Embassy-assisted initiatives, APP reported, and added that “The NUST through its indigenous and US Embassy assisted initiatives, managed to develop a locally made conventional air quality measuring gadget in collaboration with local technicians/engineers”. The Head of Department, Institute of Environmental Sciences and Engineering (IESE), Dr. Muhammad…
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The scourge of circular debt of cash bleeding power sector has gone up by Rs1,328 billion in the last 40-month rule of PTI government, climbing up to Rs2,476 billion till December 2021.https://0200f1fc14232232425dd4f5771e468d.safeframe.googlesyndication.com/safeframe/1-0-38/html/container.html “The Circular Debt (CD) stood at Rs1,148 billion when the PTI government had assumed reins of power in August 2018. It has now gone up to Rs2,476 billion,…
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China’s thermal coal futures fell as much as 7.5% on Thursday after the state planner warned companies against inflating coal prices and reiterated it would ensure enough supply to stabilise markets. The most-active thermal coal futures on the Zhengzhou Commodity Exchange were down 3.5% at 836.2 yuan a tonne by 0330 GMT, after falling as much as 7.5% at one…
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The UK’s only two shale gas wells are to be abandoned after the industry regulator ordered them to be sealed.The Lancashire wells have not been used since 2019 after test drilling was suspended due to earth tremors and the government halted shale gas extraction in England. The Oil and Gas Authority (OGA) ordered that they now be plugged with concrete.…
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Oil prices fell on Thursday despite forecasts for a steeper rise in energy demand, with crude turning negative on fears that the U.S. Federal Reserve will hike rates more aggressively than expected to fight inflation. After rising more than 1% in early trade, Brent crude futures slipped 27 cents, or 0.3% to $91.26 a barrel by 1347 p.m. ET (1847…
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Stronger economic growth and the easing of COVID restrictions make the near-term prospects for global oil demand bright, with an upside potential, OPEC said on Thursday, keeping its forecast that consumption will exceed pre-pandemic levels in 2022. In its closely-watched Monthly Oil Market Report (MOMR), the organization revised up slightly, by 10,000 bpd, its annual oil demand estimate for 2022 to 100.8…
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Advisor for Commerce and Investment Abdul Razak Dawood on Wednesday termed the signing of the Framework Agreement on Industrial Cooperation between Pakistan and China “a breakthrough” for the multi-billion-dollar China-Pakistan Economic Corridor (CPEC), which has entered into its second phase. Pakistan and China on Friday inked the Framework Agreement on Industrial Cooperation under the CPEC following Prime Minister Imran Khan’s…
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According to sources, PARCO the vessel carrying the heavy fuel left for a foreign destination from Port Qasim on Thursday evening. Although refineries had tried to find buyers for their furnace oil stock in the last two months, they were not able to sell it owing to weak world demand, despite floating low-priced tenders. Sources said it was the first…
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