Following a rally early on Friday supported by U.S. President Donald Trump suggesting he could intervene in the ongoing Saudi-Russia oil price war and by a flow of stimulus from governments to support their economies stricken by the coronavirus pandemic, oil prices resumed their slump on Friday. At 8:23 a.m. EDT on Friday, WTI Crude was rising 2.97 percent at $26.62, and Brent…
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TORONTO — Facedrive Inc. (“Facedrive”) (TSXV: FD), the first Canadian peer-to-peer, eco-friendly and socially responsible ride-sharing network, has entered into a Share Exchange Agreement to acquire 100% of HiRide Share Ltd (“HiRide”), a socially responsible ride-sharing and car-pooling app which shares Facedrive’s “people and planet first” principles. This is a strategic acquisition that will give Facedrive access to HiRide’s 20,000+ car-pooling network…
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One might reasonably posit that when Crown Prince Mohammed bin Salman (MbS) signalled that Saudi Arabia was once again going to produce oil to the maximum to crash oil prices in a full-scale oil price war, Russian President Vladimir Putin probably fell off the horse he was riding bare-chested somewhere in Siberia because he was laughing so much. There is…
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The Pakhtunkhwa Energy Development Organization(PEDO) will introduce information technology-based modern monitoring system to ensure quality and timely completion of its ongoing energy projects in the province. Giving briefing the 44th meeting of board of directors of the organization Chief Executive Pedo Engineer Naeem Khan said the PEDO would start e-biding and e-tendering process to ensure transparency in projects and its administration working.…
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Rethinking relations between the United States and Pakistan is certainly not easy, given the turbulence, acrimony, and mutual recrimination which afflicts this decades long bilateral engagement. Yet, given that both countries still need each other, albeit for different reasons, necessitates identification of mutually beneficial means whereby this relationship may be made less erratic and more positive. We have recently prepared…
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ISLAMABAD: The government has worked out a plan to ensure savings of $273 million (Rs43 billion) per year on import of petroleum products. The savings may be used either in lowering the price of petrol for end consumers or utilized for any productive project in oil and gas sector. And to this effect, top mandarins of the Petroleum Division gave…
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Crown Group, a local auto parts manufacturer in Pakistan launched a two-door and two-person hatchback electric vehicle (EV) a few weeks ago. It costs Rs400,000. The company has three and four-person versions as well, all under Rs1million — quite affordable compared to existing combustion engine models. Contingent on the now-forgotten implementation of the Electric Vehicle Policy, the company intends to…
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The exodus of international partners and the global gas glut raise doubts about the economic viability of an already challenged sector Canada was hoping to catch the mid-2020s next global LNG export wave in a big way when a Shell-led consortium announced FID for the first phase of the massive LNG Canada project in October 2018. The nascent Canadian LNG…
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State-run Solar Energy Corporation of India (SECI) has invited bids from wind and solar plants to supply 5,000 mega-watt (MW) power under a round-the-clock scheme. The scheme involves purchases of renewable energy, along with coal-based power, so that buyers have the assurance of uninterrupted electricity supply. Renewable power may include a combination of solar, wind and small hydro power with…
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Railway Ministry has planned to electrify the remaining broad gauge routes on the network by the month of December 2023 Indian Railways bets big on electrification and renewable energy! The Indian Railways network will be completely electrified soon as Piyush Goyal-led Railway Ministry has planned to electrify the remaining broad gauge routes on the network by the month of December 2023.…
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