Europe is set to receive more cargoes of U.S. crude from the Strategic Petroleum Reserve (SPR) as the European Union discusses an oil embargo on Russia and looks to reduce reliance on Russian oil, Bloomberg reported on Thursday, citing tanker-tracking data and sources with knowledge of the shipments. In recent weeks, Europe has increased purchases of U.S. crude as it…
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A piece of legislation that would ban excessive gasoline prices is headed for a vote in Congress next week, House Speaker Nancy Pelosi said on Thursday afternoon. The bill, known as the Price Gouging Prevention Act of 2022 and introduced by Democrat senators Tammy Baldwin, Elizabeth Warren, and Democrat Representative Jan Schakowsky, comes in response to what Pelosi calls “a…
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Hours after Moscow warned there would be retaliation for Helsinki’s announcement that it is applying for NATO membership, Finnish media reports that the Kremlin threatened to cut the country off from Russian gas by Friday. Citing unnamed sources, Finland’s Iltalehti reported the Russian warning to politicians, who refrained from specific comment. Prior to this warning, the local media outlet noted…
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According to details, the aviation authority has decided to switch Karachi’s Jinnah International Airport to solar energy and has directed authorities concerned to prepare a feasibility plan in this connection. DG Civil Aviation Authority (CAA) Khaqan Murtaza said the solar energy project will save millions of rupees in terms of expenditure. “CAA is working on a plan to switch Karachi…
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Pakistan has exported its first vehicle – made by Master Changan Motors – under the new Auto Industry Development and Export Policy (AIDEP 2021-26), according to a press release issued by the company on Thursday. The press release stated that under the new auto policy, all OEMs would require to initiate vehicle exports to help develop the local industry and…
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Sindh Chief Minister Syed Murad Ali Shah in his meeting with Federal Minister for Power Khurram Dastagir took up the prolonged load shedding in the rural areas of the province. The meeting between the two was held here at CM House on Thursday. The chief minister said that there were two serious issues in the rural areas of the province.…
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The Gas crisis has become severe in SITE industrial area Karachi – the oldest & largest industrial zone of the country. The industrial production in the area is affected badly due to extreme low gas pressure, contrary to industry’s requirement by the SSGC since Sep-Oct last year. The SITE area industrialists have expressed apprehension over the situation stating if industries…
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On 9th January 2021, 23:40hrs, a major power blackout occurred which engulfed almost entire Pakistan, including Karachi, Lahore, Multan and Islamabad. It took 22 hours to bring electricity back into the grid. Power regulator Nepra (National Electric Power Regulatory Authority) has held NTDC (National Transmission and Despatch Company) responsible and has fined Rs 50 million on it. NTDC has failed…
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