Day: September 15, 2020

Brazil’s Petrobras Restarts Trade With Major Oil Traders

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Petrobras is resuming oil trade with the world’s top commodity trading houses Vitol, Trafigura, and Glencore, after nearly two years of suspension amid a bribery investigation into the oil trading giants, Brazil’s state-held oil firm told Reuters late on Monday. In December 2018, Brazilian authorities opened an investigation into Vitol, Trafigura, and Glencore over alleged bribery in which traders had allegedly paid bribes of at least US$31 million to Petrobras insiders, traders, and employees in exchange for oil deals.    Just after the investigation was announced, Petrobras said it was suspending oil and…

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Turkey sets new power generation record

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urkey set new all-time high records on Sept. 3 for daily electricity production and hourly electricity consumption, the nation’s energy and natural resources minister announced Tuesday. “Turkey’s energy production continues to rise, breaking records. Despite the (COVID-19) outbreak, we have a new record on daily energy production,” Fatih Dönmez reported over his Twitter account. According to the data shared by Dönmez, an all-time high daily generation was recorded on Sept. 3 with 1.07 billion kilowatt-hours (KWh), breaking the previous record of 1.06 billion KWh set on Aug. 2, 2018. The…

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17th Annual Environment Conference on Biodiversity and Post Pandemic Challenges on Sept 18th

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Karachi: National Forum for Environment and Health (NFEH) is holding 17th Annual Environment Excellence Awards (AEEA 2020) & Conference on “Biodiversity and Post Pandemic Challenges” on September 18 at local hotel Karachi. This was announced by President Naeem Qureshi in the meeting of NFEH Advisory Committee held at NFEH Office. Naeem Qureshi said conference and colorful award ceremony will be held on September 18, 2020. Syed Amin ul Haque Federal Minister for IT and Telecommunications, Syed Nasir Hussain Shah, Minister Local Government, Forest and Wildlife Sindh, Administrator Karachi Iftikhar Shallwani…

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CPEC projects get new team leader

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ISLAMABAD: The government has appointed a new head of two research and administration support projects of the China-Pakistan Economic Corridor (CPEC) ahead of a meeting of the highest decision-making body of the bilateral strategic initiative. The Pakistan Tehreek-e-Insaf (PTI) government has given the charge of Centre of Excellence project of CPEC and CPEC Support Project to Qazi Zaheer Ahmad, a grade-21 officer working in the Ministry of Planning and Development. The responsibilities have been given on a temporary basis. “I have been appointed project director and the CPEC Support Project…

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SSGC’s loss drops 11% to Rs3.2 billion

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Sui Southern Gas Company’s (SSGC) consolidated loss dropped 11.3% to Rs3.24 billion in the quarter ended September 30, 2018 due to an increase in revenue from the sale of gas, according to a bourse filing on Monday. The loss had been registered at Rs3.65 billion in the same quarter of previous year, according to the company’s profit or loss account sent to the Pakistan Stock Exchange (PSX). Accordingly, the loss per share fell to Rs3.68 in the quarter under review from Rs4.15 in the corresponding quarter of previous year. SSGC’s…

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