Day: December 2, 2020

Oil Price Rally Reverses As Inventories Balloon

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The American Petroleum Institute (API) reported on Tuesday a build in crude oil inventories of 4.146 million barrels for the week ending November 27. Analysts had predicted an inventory draw of 2.358 million barrels for the week. In the previous week, the API reported a build in oil inventories of 3.8-million barrels, after analysts had predicted a much smaller build of just 127,000 barrels. Oil prices were trading down on Tuesday afternoon before the API’s data release despite daily news of Covid-19 vaccine progress, after OPEC on Monday ended its…

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China’s Big Plastic Ban Is A Massive Failure

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sea pollution

Back in 2008, Beijing introduced a nationwide ban on ultra-thin plastic bags in a bid to tame the plastics menace that had earned the nation the reputation as the world’s largest generator of waste and also the largest source of waste plastic flowing into our oceans. But more than a decade since the policy was unveiled, use of these banned ultra-thin bags is still rampant, including in Jilin Province, home to the country’s strictest restrictions on plastic bags. And now, Beijing intends to phase in a raft of new anti-plastic…

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Pakistan looks for financial consultant as TAPI up for grabs

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KARACHI: Pakistan is hiring a consultant to update financial and commercial aspects, including pricing formula, related to trans-Afghanistan pipeline that targets first gas flow in next four years, it was learnt on Tuesday. State-owned Inter State Gas Systems (ISGS) wants international/local firms for provision of commercial consultancy services with respect to the commercial and financial aspect of Turkmenistan-Afghanistan Pakistan-India (TAPI) gas pipeline project, including gas pricing mechanism, and negotiation strategy, according to a document available with this scribe. ISGS intends to hire services of local/international consultancy firm having experience relating…

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New Zealand’s Ardern Declares ‘climate Emergency’

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Wellington, Dec 2 (APP – UrduPoint / Pakistan Point News – 2nd Dec, 2020 ) :New Zealand Prime Minister Jacinda Ardern declared a “climate emergency” on Wednesday, telling parliament that urgent action was needed for the sake of future generations. Ardern said the science on climate change was clear and New Zealand had to acknowledge the threat. The centre-left leader said the challenges posed by global warming meant parliament’s declaration — an act undertaken by more than a dozen other countries — was warranted. “In those cases where we do…

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UK one of first countries to start vaccinating its population, approves shots from ‘next week’

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Pfizer and BioNTech say they’ve won permission on Wednesday for emergency use of their Covid-19 vaccine in Britain, the world’s first coronavirus shot that’s backed by rigorous science — and a major step toward eventually ending the pandemic. The move makes Britain one of the first countries to begin vaccinating its population as it tries to curb Europe’s deadliest Covid-19 outbreak. British Prime Minister Boris Johnson said it was “fantastic” that the country’s medicines regulator had formally authorised the Pfizer-BioNTech vaccine for use, a move that he said would get…

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