A couple of months ago, U.S. President Joe Biden urged energy companies to stop ‘war profiteering’ and even threatened to slap them with windfall tax if they failed to invest their profits in lowering costs for Americans and increasing production. The calls came at a time when Big Oil has been posting record profits amid high commodity and energy prices. The majority…
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Canada has officially ended its government support for international fossil fuel projects, fulfilling a commitment it made at last year’s Conference of the Parties, or COP, Ottawa said in a statement. “The Government of Canada is taking a suite of actions to achieve Canada’s climate goals,” the statement read. “These include accelerating our G20 commitment “to phase out and rationalize inefficient fossil…
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Chief Minister Punjab Chaudhry Parvez Elahi okayed the production of a waste-to-energy project for Lahore while chairing a meeting with a Norwegian firm (ENATE) at his office that offered to generate 55 megawatts of electricity daily for the Sundar industrial estate from 1250 tons of solid waste. The Norwegian representative Mr. Carl Fredrik Seim told that 40 million tons of…
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There is a need to design conducive policies to promote climate-resilient houses in Pakistan that can withstand floods, said Sherry Rehman, Federal Minister for Climate Change, on Thursday at the inaugural session of the First International Housing Expo ‘22 organised by the Ministry of Housing and Works by Islamabad Chamber of Commerce and Industry (ICCI). “The recent floods have brought…
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The federal cabinet on Thursday removed the hurdle on the restoration of petroleum exploration activities in the country, green-lighted transit trade with Tajikistan and received the “post-disaster needs assessment (PDNA)” report on the devastating floods. The cabinet, which met with Prime Minister Shehabz Sharif in the chair, approved the restoration of 11 petroleum exploration licences on the recommendation of the…
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The proposed energy efficiency policy is going to make it mandatory that no electricity meter will be installed in the new houses without securing an energy efficiency certificate along with the energy map. “We are bringing new energy efficiency policy, making it mandatory to secure energy efficiency certificate along with energy map for building new houses,” Secretary Power Division told…
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The federal cabinet has approved the restoration of 11 cancelled petroleum exploration licences on the recommendation of the Petroleum Division. The cabinet met under the chairmanship of Premier Shehbaz Sharif on Thursday.During the meeting, the Ministry of Planning presented a report related to the biblical floods in Pakistan during the current year. The Post-Disaster Needs Assessment (PDNA) was conducted by…
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Oil prices fell on Thursday on the prospect of a key Canada-to-U.S. crude pipeline that shut after a leak returning to service soon, putting a hefty amount crude back into the market at the same time that global economic slowdowns raised fuel demand fears. Brent crude lost 67 cents, or 0.9 percent, to $76.50 a barrel by 1629 GMT, while…
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The Power Division has expressed willingness to do away with the role of collection of taxes and surcharges on electricity except General Sales Tax (GST) to avert criticism of consumers due to heavy bills. This intention was conveyed by the Minister for Power, Khurram Dastgir Khan at a meeting of National Assembly Standing Committee on Power during discussion on a…
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It’s been a long time since I last looked into the offshore data in the BP office in London. Without getting into granularity, exploration history of Pakistan offshore in general is not much different from other successful offshore basins across the globe. It is one of the largest frontier offshore basins in the world. A common theme in all these…
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