Barring a major lengthy supply disruption, Brent Crude prices will average US$62 a barrel in May, lower than the current price, as the geopolitical risk premium gradually decreases in the first half of 2020, the Energy Information Administration (EIA) said on Tuesday. PauseUnmuteLoaded: 0%Progress: 0%Remaining Time -0:42Fullscreen Brent Crude prices were at US$64.26 early on Tuesday, down by 1.44 percent on the day, while WTI…
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Karachi 22 October: ‘Youth can become catalysts of change and help conserve the diminishing wildlife species of Pakistan and their habitats. As future custodians of the country’s natural resources, they have the responsibility to support efforts to combat illegal wildlife trade and improve wildlife population’. This was stated by speakers during a seminar organised by WWF-Pakistan in collaboration with United Nations…
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WASHINGTON, September 20, 2018—Without urgent action, global waste will increase by 70 percent on current levels by 2050, according to the World Bank’s new What a Waste 2.0: A Global Snapshot of Solid Waste Management to 2050report. Driven by rapid urbanization and growing populations, global annual waste generation is expected to jump to 3.4 billion tonnes over the next 30 years, up…
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For some reason, there is a lot of apprehension against introducing more renewable energy sources in Pakistan. Pakistan’s new Alternative and Renewable Energy Policy (ARE Policy) has been underway for more than a year, and it has encountered stiff resistance. This is counter-intuitive: statistics tell us that globally performing economies are the ones transitioning fastest to renewable electricity production. Other…
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The United States Treasury Department granted Chevron another three-month sanction waiver to continue operating in Venezuela, Reuters reported Sunday, with the expiry date of this latest extension set for April 22. The Treasury Department has been granting Chevron three-month extensions of its sanction waiver for a while now, with the one it announced last October reportedly being a topic of heated discussion in the…
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At least five people died and dozens of others were rushed to hospital late on Sunday after an oil pipeline exploded in Nigeria in a blast that the authorities believe was caused by oil thieves who ruptured the pipeline belonging to the Nigerian National Petroleum Corporation (NNPC). The explosion occurred late on Sunday evening local time in Nigeria in the Ekoro area…
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Somalia has invited Turkey to carry out offshore oil exploration works in the territorial waters of the African country, Turkish President Recep Tayyip Erdogan said on Monday, as reported by broadcaster NTV. Turkey has an offer from Somalia, which says that Ankara can conduct oil exploration the way it has agreed to do with Libya in the eastern Mediterranean, Erdogan said. …
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The Council of Common Interests (CCI) has directed the Power Division to incorporate observations of Sindh and KP governments in the Alternate Energy Development (ARE) Policy 2019, as both provinces opposed approval of policy in the current shape. Well informed sources told Business Recorder that Power Division at a meeting of the CCI held on December 23, 2019 argued that…
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ISLAMABAD: Pakistan has managed to secure broad-based interest in the privatisation of multibillion-dollar liquefied natural gas (LNG)-fired power plants as a dozen global and local companies, including a military-backed local consortium, have shown interest by the end of the extended deadline. As traditional aspirants, China and Saudi Arabia, have stayed away from the process, non-traditional investors from Japan, Thailand, the United…
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Worldwide oil demand forecasts may be lower than in previous years, but OPEC Secretary-General Mohammed Barkindo said Friday to CNBC that demand growth is still “robust” and could surprise to the upside over the course of 2020 as trade tensions subside. “By and large what we see from our side is an upside potential of growth from the demand side…
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