Pakistan’s total petroleum products off-take rose 17 per cent on a year-on-year basis to 1.99 million tonnes in October 2021, compared with 1.70 million tonnes sold in the same period of the last year, the official data showed. “Growth was witnessed in all the three major fuels, supported largely by recovering economic activity. The total sales grew 22 per cent…
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In a shocking development, two LNG trading companies, GUNVOR and ENI, have willfully defaulted on their commitment for the current month of November, 2021 to provide Pakistan two LNG cargoes for mammoth monetary gains up to 200 percent profit in the international spot market. Under the term agreements with Pakistan LNG Limited (PLL), Italy-based ENI was to deliver the LNG…
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The second and final day for world leaders at the summit in Glasgow was marked by two deals that could become key tools in the climate fight. The U.S. and European Union’s much-anticipated pledge to cut methane emissions got support from more than 90 countries, though super-polluters China and Russia held out. One hundred countries backed a U.K.-led declaration to…
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For years, militaries around the world saw protecting their citizens as contradictory to protecting the environment. But the presence of top defense leaders, including NATO’s secretary general, at a U.N. climate change conference on Tuesday suggested that is starting to change. The Tuesday visit from NATO Secretary General Jens Stoltenberg to the Glasgow climate talks was the first time a…
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more than 130 renewable energy leaders, under the auspices of the International Renewable Energy Agency (IRENA) Coalition for Action, launched a call to action today, encouraging all governments at national, regional, and local levels to ensure access to high-quality, sustainable jobs during the energy transition. Limiting the earth’s temperature rise to 1.5°C by 2050 requires a full decarbonisation of the energy sector.…
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Sindh Engro Coal Mining Company (SECMC) board has approved the expansion of its Thar Coal Block II Mine to 12.2 million tons per annum (Phase III). With this expansion, coal price of SECMC mine shall reduce to 27 USD/ton. SECMC is expected to complete this expansion by June 2023. At a price of $27 per ton, SECMC Block II coal…
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Inflation continues to bedevil the Pakistani residents three years into the tenure of the Khan administration in spite of repeated public acknowledgements by the Prime Minister and his cabinet members that inflation is a source of concern. In spite of best efforts by the government, reflected by the country’s Prime Minister reportedly raising the issue at every meeting, the inflation…
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Islamabad (30 October 2021): Pakistan is all set to have a diverse representation at 26th Conference of the Parties (COP-26) to the United Nations Framework Convention Climate Change (UNFCCC). The international conference is going to have an extraordinary representation of civil society, parliamentarians, think tanks and private sector from across the globe. The key negotiations at the COP-26 would open…
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The country’s power generation capacity witnessed a 9.3 percent increase during the last fiscal year due to prudent policies introduced by the government for gradually switching over to alternative and renewable energy resources. “During the current fiscal year, the government has set a target to get additional 15.2 per cent growth, focusing on alternative and renewable resources,” according to an…
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A large number of consumers in Rawalpindi city have installed gas compressors, depriving many fellow citizens from the commodity supply even in routine hours. Some domestic as well as commercial consumers have reportedly installed illegal gas compressors which hedge on gas pressure like water motors � used in summer to enhance water pressure. The price of compressors in the market…
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