China has significantly increased its lithium reserves, positioning itself as the world’s second-largest holder of the critical metal for electric vehicle (EV) batteries and renewable energy technology. According to state news agency Xinhua, China’s global lithium share has risen from 6% to 16.5%, surpassing countries like Australia, Argentina, and Bolivia. The only nation ahead of China in lithium reserves is…
Read MoreSINGAPORE: Saudi Arabia’s crude oil supply to China is set to decline in February from the prior month, trade sources said on Thursday, after the kingdom hiked its official selling prices to Asia for the first time in three months. State oil firm Saudi Aramco will ship about 43.5 million barrels in February to China, a tally of allocations to…
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ISLAMABAD: Dr Fakhre Alam Irfan, Secretary of the Power Division, has revealed that no significant progress has been made in talks with the International Monetary Fund (IMF) regarding an extension for the closure of Captive Power Plants (CPPs), pledged to be disconnected by January 31, 2025. In response to questions about the proposed disconnection of CPPs from the natural gas…
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LONDON: Oil prices rallied more than 4% on Friday to reach their highest levels since October as traders focused on potential supply disruptions from more sanctions on Russia. Brent crude futures gained $3.50, or 4.6%, to $80.42 a barrel by 1422 GMT, reaching $80 a barrel for the first time since Oct.7. U.S. West Texas Intermediate crude futures advanced $3.57,…
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While 2023 was the sunniest year of the century, 2024 presented a more complex solar energy picture despite being the second-hottest year on record. Analysis by Solcast API reveals varied irradiance trends shaped by weather patterns such as El Niño and regional droughts, decoupling global heat records from consistent solar potential. Regional Insights: Americas: Canada and Alaska faced below-average solar…
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The Koto Hydropower Project in Lower Dir, Khyber Pakhtunkhwa, is nearing completion and is expected to commence power generation later this year. The project will produce 40.8 megawatts of affordable electricity, contributing significantly to the province’s energy needs. Key Benefits: Economic Impact: The project is projected to generate an annual income exceeding Rs. 1.7 billion.Employment Creation: New job opportunities will…
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Pakistan Petroleum Limited (PPL) has announced the start of gas production from the Takri-1 exploratory well in Jamshoro, Sindh. The development was disclosed in a notice to the Pakistan Stock Exchange (PSX). The Kotri North Joint Venture, consisting of United Energy Pakistan Limited (UEPL) as the operator with a 50% working interest, along with PPL (40%) and Asia Resources Oil…
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China has emerged as the world’s second-largest holder of lithium reserves, solidifying its leadership in electric vehicle (EV) batteries and renewable energy technologies. According to Xinhua, China’s share of global lithium reserves has surged from 6% to 16.5%, surpassing Australia, Argentina, and Bolivia, with only Chile ahead. This milestone is attributed to significant discoveries and breakthroughs in extraction technologies. Key…
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The Federal Board of Revenue’s (FBR) Directorate of Customs Post Clearance Audit South has uncovered a staggering Rs106 billion money laundering scheme disguised as solar panel imports, Express News reported. The investigation revealed the involvement of seven fake companies: Messrs Sky Linkers Trading Company, PeshawarMessrs Sky Linkers Business Chain Private Limited, PeshawarMessrs Bright Star Business Solution Private Limited, PeshawarMessrs Moonlight…
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