Federal mining licensors at Nigeria’s Mining Cadastre Office (MCO) are looking to February 12 to commence the revocation of some 2,763 mineral titles whose holders have failed to pay outstanding yearly service fees in a new aggressive revenue drive designed to swell government’s coffers in 2021. The titles at risk of federal axe represent 25 per cent of the total 10,959 mining…
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Pakistan expects to secure around $12 billion loans from the World Bank Group over a period of five years under a new partnership strategy, which the Washington-based lender may approve by May this year. Minister for Economic Affairs Makhdoom Khusro Bakhtiar and World Bank Country Director Najy Benhassine discussed the development priorities of Pakistan for the next five years, according…
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The Sindh High Court (SHC) on Monday directed the deputy commissioners of the Malir and Korangi districts to submit progress reports with regard to action against persons involved in farming vegetables through sewage. Petitioner Mehmood Akhtar Naqvi had submitted that several people were involved in vegetable farming through sewerage water in the Korangi, Malir, Landhi and Surjani Town areas. He…
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ISLAMAABAD: The Cabinet Committee on Energy (CCoE) has directed Petroleum Division (PD) to play its role in accordance with the relevant laws/rules in signing required agreement(s) with PLL and KE for RLNG supply to KE’s new unit while ring fencing old KE receivables issue related to indigenous gas supply, sources close to SAPM on Petroleum told Business Recorder. The decision…
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SLAMABAD: The Council of Common Interests (CCI) is likely to approve the controversial Census-2017 at its meeting to be held on Wednesday (Jan 27) with Prime Minister Imran Khan in the chair. The PM has called the 44th meeting of the CCI to discuss various issues, including the issue of notification of Census-2017 results. The federal cabinet, after a lapse…
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SpaceX plans to use two deepwater oil rigs as offshore floating spaceports that the company will likely use for the Starship rockets it is developing. CNBC’s Michael Sheetz reports, citing public documents, that now-bankrupt offshore rig operator Valaris sold two rigs, 8500 and 8501, for $3.5 million each. The deal was completed in July last year, and Valaris—the world’s largest offshore…
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The Nigerian National Petroleum Corporation has decided to focus its attention on condensates production to compensate for lost revenue from oil exports due to the country’s commitment to the OPEC+ production cut deal. Nigerian daily This Day quoted the managing director of the NNPC as laying out this plan, and noting a boost in condensates production should help push revenues…
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The U.S. Department of Commerce said on Thursday it had blacklisted China’s state-run oil company CNOOC for helping China intimidate neighbors in the South China Sea, threatening U.S. national security, in yet another move aimed at restricting market access for Chinese companies. CNOOC was added to the Entity List, a tool utilized by Commerce’s Bureau of Industry and Security (BIS)…
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The self-driving EV race is officially on. And as competition begins to pop up globally, joint ventures and partnerships are being struck almost daily as players from tech and legacy automotive rush to pair together in order to get products to the market as quickly as possible. The latest tie-up comes from Chinese EV manufacturer NIO, who announced it was partnering with…
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The year 2020 is already unforgettable in many ways. The Covid-19 pandemic brought the world to a standstill. With the economy on hold, energy consumption has plummeted including demand for LNG. The price of the supercooled fuel reached unprecedented lows in the spring of 2020. Within a year, however, the revitalization of the market is a fact. Prices in especially…
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