Debt, Zombies, And Geopolitics: China’s Belt And Road Initiative During COVID

The Belt and Road Initiative (BRI) has been a focal issue for understanding the foreign policy of the People’s Republic of China (PRC). Some observers view the BRI as representing a new phase of economic globalization and regional economic integration. Others argue that the BRI’s primary motivating factors are domestic and that the massive program is chiefly aimed at creating new markets, maintaining economic stability, resolving regional development imbalances, and transferring industrial overcapacity. Both views have their valid points, but overlook the BRI’s key role in supporting China’s domestic economic…

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UK Company Buys American Energy Supplier

Challenger energy brand Octopus has today continued its international expansion with its first foray into the massive US market. The firm, which has grown rapidly since launching four years ago and now boasts 1.7m accounts in the UK, has bought American supplier Evolve Energy in a $5m (£3.9m) deal. The acquisition is the first step in a program that will see Octopus invest $100m into the US, with the goal of acquiring 25m US customers on its technology platform by 2027. By 2030, the firm has set itself the challenge…

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A Major Supply Shortage Is Set To Hit Lithium Markets

Lithium producers do not feel threatened by Tesla’s plan to produce lithium in Nevada. Miners, as well as analysts, believe that despite the recent drop in lithium prices, the industry is in for a supply shortage after 2025 as automakers significantly ramp up electric vehicle (EV) production. Massive amounts of additional lithium supply will be needed to support not only the EV revolution but also the expected surge in stationary battery storage to support the wider adoption of renewable energy. Therefore, lithium mining companies and researchers are looking to develop…

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Govt likely to cut petrol price by Rs2 per litre

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has worked out a reduction in the prices of petroleum products (POL) for the upcoming month of October 2020. According to sources, OGRA has forwarded its working paper regarding the next month’s oil prices for necessary feedback. The final decision will be announced by the finance ministry on 30th September (tomorrow) after getting the consent of Prime Minister Imran Khan. The new oil prices will be effective from 1st October across the country. Sources said that the OGRA, in its working paper, had…

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Britain’s oil and gas rigs most polluting in North Sea, says report

Britain’s oil and gas rigs are the most polluting in the North Sea oil basin, according to industry data, with enough unwanted gas burned off every year to heat a million homes. Oil rigs in the UK continental shelf (UKCS) released 13.1m tonnes of carbon dioxide emissions into the atmosphere last year, according to data from Rystad Energy, significantly more than those from the Norwegian and Danish regions of the North Sea, which produced 10.4m tonnes and 1.4m tonnes of CO2 respectively in the same year. The report found that…

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Govt formulating shale gas policy to attract foreign investors

ISLAMABAD: The Petroleum Division is in the process of formulating a vibrant policy to exploit massive shale gas and oil reserves by attracting multinational companies in the exploration sector of the country. According to a latest official document available with APP, the Shale Gas Policy will attract many multinational companies to come to Pakistan for undertaking exploration to discover Shale gas and oil in the country. In 2015, a study completed in cooperation with the United States Agency for International Development (USAID) had confirmed the presence of 10,159 trillion cubic feet…

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Elon Musk “Feels Bad” About Hating On The Oil And Gas Industry

Elon Musk said he “feels a bit bad” about hating on the oil and gas industry through the years, saying that many oil companies built their business of producing and burning fossil fuels before it became clear that oil and gas contribute to climate change. In a wide-ranging conversation on the Sway with Kara Swisher of The New York Times, Tesla’s founder and chief executive said “Honestly, I feel a bit bad about hating on the oil and gas industry.” “For a lot of the people in the oil and…

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Professionalism not privatisation

The submarine world is now undergoing some of the fundamental changes it has seen in the last 40 years and there are signs that those changes may be the biggest, since the order was first given to “take her down.” New technologies are producing capabilities long known to be possible, but not practical. However, with the introduction of superior weapons and sensors, powerful combat suites, capability to launch special payloads like Unmanned Underwater Vehicles and Autonomous underwater vehicles, land attack capability, enhanced submerged autonomy rendered by the combination of an…

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UK trials hydrogen-powered train in latest step forward for transport innovation

Trials of a hydrogen-powered train are underway in the U.K. with an initial journey successfully completed between the locations of Long Marston and Evesham in the West Midlands region of England. The HydroFLEX train — which has been developed by a team from the University of Birmingham and Porterbrook, a rolling stock firm — uses a fuel-cell which combines hydrogen and oxygen to generate electricity, heat and water. The train has been fitted with a range of kit inside one of its carriages. This tech includes a hydrogen fuel tank,…

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Auto DraftDrastic measures proposed to contain circular debt

ISLAMABAD: The Power Division on Tuesday took the Federal Cabinet in confidence over a string of measures to contain pace of increase in the circular debt and suggested some unpopular proposals for curtailing capacity payments to independent power producers (IPPs). The cabinet meeting chaired by Prime Minister Imran Khan took a special briefing from Planning and Development Minister Asad Umar and Special Assistant on Power Shahzad Qasim over the rising capacity payments to IPPs, which is one of major cause of circular debt. The proposed plan includes seven or eight…

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