Month: November 2020

UAE leaving OPEC? A storm in an oil barrel

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The oil world was abuzz at the end of last week on speculation that the UAE might be on the verge of pulling out of the Organization of Petroleum Exporting Countries (OPEC). It was an entertaining sideshow to the heavyweight meetings of the OPEC+ ministerial committee that monitors output and compliance earlier in the week, but ultimately seems likely to amount to little more than a storm in an oil barrel. Reports that Abu Dhabi was considering withdrawal from OPEC, of which it was a founding member, were based on…

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Maersk Line Expects Trade Rebound in 2021

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The world’s biggest container carrier saw profits soar 83% in the third quarter on recovering volumes, rising freight rates Danish shipping and logistics giant A.P. Moeller-Maersk A/S expects that the global container market could expand by up to 5% in 2021 in a rebound from the pandemic-driven hit to trade in the first half of this year. The parent of Maersk Line, the world’s largest container line by capacity, said Wednesday that trade volumes are growing again this fall as retailers and manufacturers restock depleted inventories and consumers who were hunkered down…

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No plan yet to take over KE: SAPM

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KARACHI: Special Assistant to the Prime Minister on Power (SAPM) Tabish Gauhar on Wednesday declared that the government was yet to take a decision regarding taking up of the administrative control of the K-Electric (KE). “The government may consider the proposal if the performance of the power supply company (KE) does not improve and Shanghai Electric does not come and invest in it,” he said. The SAPM was speaking to media after addressing an event titled “The Futures Summit” in Karachi. Highlighting the efforts of the government, Gohar said the…

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KP Govt To Complete Over 300 Small Dams

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PESHAWAR, (APP – UrduPoint / Pakistan Point News – 18th Nov, 2020 ) :The government of Khyber Pakhtunkhwa would completer construction of 307 Mini Macro Hydro Power Projects (MMHPPs) considering the growing energy needs. “The KP government is fully geared up to continue pursuing the underlying message as spelled out by the then PTI chairman in Swat district in 2014 who expressed strong resolve to construct 350 mini dams in KP to overcome power crisis,” said spokesman of the Pakhtunkhwa Energy Development Organization (PEDO). Talking to APP, he said these…

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Three young Pakistani businesses win Shell Global Innovation Prize Share:

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KARACHI-Three Shell Tameer entrepreneurs from Pakistan have each taken home one of the 2020 Shell LiveWIRE Top Ten Innovators Awards, a global competition that rewards businesses that demonstrate excellence in innovation and gives entrepreneurs a chance to shine on a global platform. This year, Shell LiveWIRE has partnered again with Shell Global Commercial to deliver a competition focused on creating a More Liveable World. Three separate award categories within this theme have been identified: Energy Transition, Environment & Circular Economy, and Local Prosperity. The winner of each category took home…

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