A deepening dependency on U.S. diesel deliveries in many parts of the world could lead to problems in the coming months as domestic demand for the fuel increases while production fails to increase at the same rate. Bloomberg reports that the United States is exporting diesel fuel at record rates, reaching 1.4 million bpd in July, which was the highest in five…
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The world’s refining capacity is expected to increase by nearly 3 million barrels per day (bpd) by the end of next year when at least nine refinery projects are expected to start up in the Middle East and Asia, the EIA said on Tuesday. The expansion of refinery capacity would offset the losses in global refining capacity in 2020 and…
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The committee presided by Senator Saifullah Abro demanded details of official visits taken by the CEO of K-Electric and other officials in the last one year. During the proceedings, Senator Fida Muhammad said that Ali Zain Banatwala was illegally appointed as Deputy Managing Director (SO), NTDC. Abro directed the Power Division to terminate Banatwala as Deputy MD of NTDC and…
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The Economic Coordination Committee (ECC) of the Cabinet released on Sunday Rs30 billion funds to help the Pakistan State Oil (PSO) come out of financial constraints and prevent the state-run company from defaulting on international payments. The PSO was heading towards a default situation, as the receivables swelled an all-time high of Rs605 billion. The Petroleum Division had submitted a…
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Amid strong opposition from small retailers over the collection of taxes through electricity bills, Pakistan Finance Minister Miftah Ismail has decided to exempt the small traders with bills of less than 150 units from the tax as the community staged protests and refused to pay the taxes on energy bills. “We will charge Rs 3,000 even to those shopkeepers who are not…
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Pakistan Businesses Forum (PBF) Vice President Ahmad Jawad expressed grave concerns over environmental issues emerging as safety hazard for Pakistan, and called for taking comprehensive measures to overcome the effects of global warming and other problems related to fast-changing weather patterns. Talking to media here on Sunday, he added that glacial lakes outburst floods, heatwave, environmental degradation, water erosion and…
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According to the details, Pakistan contributes less than one percent of the world’s greenhouse gases blamed for causing global warming, yet its 220 million people are among the world’s most vulnerable victims of the growing consequences of climate change. Extreme weather events–from scorching heatwaves to now unusually heavy downpours–are causing widespread upheaval and flash floods with hundreds of people killed…
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The China PV Industry Association (CPIA) recently hosted a virtual seminar on the industry’s growth in the first half of 2022 and the outlook for the second half of the year. Dr. Max Li, Senior Product Manager at LONGi, spoke on the technical advancement of crystalline silicon PV cells and modules, with an emphasis on efficiency, cost reduction, power generation…
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The former British colony of Guyana, a nation whose economy was hit hard by the pandemic, has emerged as the world’s hottest offshore drilling location. Since 2015 global energy major ExxonMobil as well as its partners Hess Corporation and CNOOC have made a slew of quality oil discoveries in the offshore Stabroek Block which have delivered resources in excess of…
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The government is likely to extend contract of Managing Director, Private Power & Infrastructure Board (PPIB), Shah Jahan Mirza, for three months or till the appointment of his successor, well-informed sources told Business Recorder. A summary for extension in services of Mirza for three months has already landed with the Establishment Division, which will be presented to the Cabinet, after…
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