The Provincial Development Working Party has approved 34 schemes with an estimated cost of over Rs 50.186 billion, pertaining to Industries, Mines & Minerals, Education, Agriculture, Local Government, Health, Water, and Multi-Sectoral Development for the uplift of the province. The 7th meeting of PDWP was held under the chairmanship of Shakeel Qadir, the Additional Chief Secretary P&D Department KP on…
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Suncor Energy is cutting as much as 15 percent of its workforce—a total of 2,000 jobs—as demand destruction and low prices have created an adapt or die scenario for oil companies to contend with. Suncor notified its employees on Friday that it would make the cuts within the next 12 to 18 months, according to Bloomberg. The Calgary-based oil company…
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At the moment, the energy news out of China is a deluge of reports and think pieces about the government’s recently unveiled an extremely ambitious plan to become carbon neutral by 2060 – very big news from the nation that is responsible for a quarter of the world’s total greenhouse gas emissions. Beijing’s lofty rhetoric is backed up by the…
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Despite promises to keep in line with the OPEC+ pact, Iraq – OPEC’s second-largest producer and biggest laggard in implementing the cuts – slightly raised its crude oil exports in September compared to August. Iraq exported a total of 78,388,619 barrels of crude last month, according to data from Iraq’s ministry of oil cited by Iraq Business News. This means…
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1. Enel – $89.95bn Enel’s 2019 revenues increased by 6.3%, driven by infrastructure and network operations in Latin America, distribution business in Brazil, and thermal generation activities in Italy. Enel added more than 3GW of new renewable capacity in 2019, increasing its total renewable capacity to 42GW and exceeding its thermal generation capacity of 39GW for the first time. The…
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KARACHI: Overall petroleum products sales in September declined 2 percent on yearly basis to 1.52 million tons, data issued by the Oil Companies Advisory Committee (OCAC) suggests on Friday. “The decline came, as the demand for major retail fuels, ie, motor spirit (MS) and high-speed diesel (HSD) each fell by 8.0 percent on sequential basis,” Ali Zaidi of JS Global…
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Special Assistant to the Prime Minister on Petroleum Nadeem Babar Friday said that the government was working on long term policy to bring reforms in petroleum and energy sectors which were neglected for the last twenty years. He said that the decision of bringing drastic change in these sectors was made in the wake of global climatic change. In an…
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Egypt’s largest private-sector energy distribution company, TAQA Arabia has shown interest in joint ventures with Pakistani companies. “Response to Pakistan’s Special Economic Zones (SEZs) has been overwhelming with multiple national & international companies approaching the Board of Investment (BOI) with investment propositions,” said Atif Bokhari, Minister of State/Chairman, BOI Pakistan. The minister on Thursday had a meeting with TAQA Arabia…
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KARACHI: Pakistan’s private sector is about to debut the import of liquefied natural gas (LNG) with the first cargo equivalent to 150 million metric cubic feet per day (mmcfd) expected to arrive by the end of this month, it was learnt on Friday. The United Gas Distribution Company (UGDC) will become the first from the private sector as the government…
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Every country has a unique geography and geopolitical positioning, but it is not always possible for all states to harness their geopolitical positioning, either because they lack the political will to do so, or because the overall regional or global geopolitics suppresses such a will. Nevertheless, understanding one’s geopolitical/strategic positioning is the first step in strengthening one’s standing in bilateral,…
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