Day: September 30, 2020

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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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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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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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 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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