Karachi to receive additional 1400MW by 2023: Asad Umar

ISLAMABAD: Minister for Planning, Development and Special Initiatives Asad Umar on Monday said Karachi city would receive additional 1400MW electricity by 2023.He said this while chairing a special meeting here to review the future electricity demand-supply outlook of Karachi.The meeting deliberated upon the possible measures to supply additional electricity to Karachi through the national grid to meet the future requirements. The meeting was informed that the electricity demand in Karachi was expected to rise to almost 4100MW by 2023, and thus, would require additional 1300MW to meet the future requirements.…

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Covid-19 drives reserves of global oil and gas assets for sale to above 12.5 billion boe

Oil and gas companies currently have assets for sale with recoverable reserves of more than 5 billion barrels of liquids and 7.5 billion barrels of oil equivalent (boe) of natural gas, Rystad Energy estimates. While some of these planned divestments were announced before the Covid-19-related oil price crash, more were added in reaction to the pandemic and its aftermath. Our estimates look at divestment opportunities that exclude unconventional and US onshore assets, announced since the fourth quarter of 2019.The majority of resources on offer are in the producing phase, followed…

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Global LNG Markets Crushed By Global Pandemic

LNG spot prices have been on the slide since April, reaching an all-time low of $1.85 per million British thermal units at the end of May. As with crude oil, the reason was very much the wide gap between supply and demand, already substantial before the coronavirus lockdowns but made even wider than them. Cargos were canceled, too, notably from the United States to Asia and Europe, with the number calculated at a minimum of 20 cargos for June and July. This dampened demand then pushed gas flows into LNG…

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World leaders’ Call to Action on COVID-19

Water, sanitation and hand hygiene, together with physical distancing, are central to preventing the spread of COVID-19, and a first line of defence against this serious threat to lives and health systems. Handwashing with water and soap kills the virus but requires access to running water in sufficient quantities. Our response plans – at national, regional and global levels – must therefore prioritize water, sanitation and hygiene services. Leaders that recognize the role of water, sanitation and hygiene in preventing the spread of COVID-19, will save lives. Leaders that prioritize…

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Karachi receives just 3% of water available to Sindh

Karachi receives just three per cent of water available in Sindh and water scarcity continues to be a major problem in the city, said opposition leader in Sindh Assembly on Sunday. Addressing a press conference with other PTI leaders, he alleged that the Sindh government had not been adapting well to the growing population of the metropolis, adding that, “the city faces a shortage of 350m gallons of water.” Naqvi claimed that water scarcity in the city would increase further as its population was expected to increase two-fold over the…

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Pakistan Witnessed Highest Inflation In The World During 2020: State Bank Of Pakistan

For Pakistans residents, fiscal year 2020 was the worst year as they witnessed highest inflation in the world forcing policy makers to increase interest rate, according to the State Bank of Pakistan (SBP). “Pakistan witnessed highest inflation not only in comparison with the developed economies but also with emerging economies,” said the Inflation Monitor for April issued by the SBP on Saturday (6 June). The SBP pushed up interest rates to cool down the inflationary pressure during the fiscal year but high rates proved counterproductive as they further increased inflation…

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A Million-Mile Battery From China Could Power Your Electric Car

The Chinese behemoth that makes electric-car batteries for Tesla Inc. and Volkswagen AG developed a power pack that lasts more than a million miles — an industry landmark and a potential boon for automakers trying to sway drivers to their EV models. Contemporary Amperex Technology Co. Ltd. is ready to produce a battery that lasts 16 years and 2 million kilometers (1.24 million miles), Chairman Zeng Yuqun said in an interview at company headquarters in Ningde, southeastern China. Warranties on batteries currently used in electric cars cover about 150,000 miles…

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