Crude oil began trade today with a gain on the back of expectations that China may begin to ease its Covid restrictions and on data from the American Petroleum Institute pointing to another decline in U.S. crude oil inventories. China’s Covid lockdowns have been one of the big headwinds for oil prices, keeping a lid on any rally since the summer as…
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As the hype around green hydrogen intensifies, several energy firms and governments are exploring the potential for transforming existing natural gas infrastructure to be used to transport hydrogen as the world transitions away from fossil fuels. Now, the U.K. has announced a new development, trialing a hydrogen-gas project to see if this vision can become a reality. The U.K. will…
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Europe is more or less prepared to face this winter with nearly full gas storage sites and a steady flow of LNG imports. The real concern about gas supply is for the winter after that, the top executives of Europe’s biggest oil and gas majors say. As of October 31, gas storage sites in Europe were 95% full, with German…
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Karachi-Electric (KE) has approached Finance Minister Ishaq Dar for release of net receivables, issuance of tariff notifications and verification of claims amounting to about Rs 419 billion. In a letter to Finance Minister, Chief Executive Officer (CEO) KE, Syed Moonis Abdullah Alvi has given the reference of power utility’s earlier correspondence and discussions on this matter including KE’s letter of…
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The Art of Giving (AOG) organized its first-ever Open House at the Port Grand to provide an opportunity for the leading non-profits of the country to display their philanthropic and noble social work to prospective donors. The AOG joined hands with the National Forum for Environment and Health and CSR Club Pakistan to combine at one place leading charities, philanthropists,…
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In the wake of this year’s monsoon flooding of Biblical proportions, due to which some districts of Sindh and Balochistan are still inundated, calls for climate justice by the incumbent government at international forums have grown. The Ministry of Climate Change (MOCC) in a press briefing released harrowing data regarding the impact of long-term shifts of temperatures and weather patterns…
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The United Arab Emirates (UAE) and the United States (US) have signed a partnership to spur $100 billion of investments in clean energy projects and add 100 gigawatts of clean energy globally by 2035, state news agency WAM reported on Tuesday. “Together, we will spur large-scale investment in new energy technologies, in our own countries, around the world and in…
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The government has increased the petroleum levy on petrol to a record high of Rs50 per litre to collect revenue of around Rs47 billion in November 2022. In a recent decision that left oil product prices unchanged for the first fortnight of November, the government increased the petroleum levy on petrol from Rs47.50 to Rs50 per litre, up by Rs2.50.…
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eading Chinese companies have shown keen interest in investing in Pakistan’s solar, water and other infrastructure projects during the visit of Prime Minister Shehbaz Sharif to Beijing. The prime minister invited the Chinese corporate heads to come to Pakistan and pour capital into the government’s comprehensive solar power programme aimed at generating 10,000 megawatts of electricity, the Prime Minister’s Office…
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