Day: December 25, 2020

U.S. To Drive A Stake Through The Heart Of Nord Stream 2

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Washington is preparing more sanctions against the Gazprom-led Nord Stream-2 natural gas pipeline project, Reuters reported, citing sources from the Trump administration. “We’ve been getting body blow on body blow to this, and now we’re in the process of driving a stake through the project heart,” one of the sources told Reuters. The news comes a day after construction of the pipeline restarted in Danish waters after a suspension that lasted almost a year, again because of U.S. sanctions. The Trump administration claims that Nord Stream-2 will deepen Europe’s reliance…

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How Much Worse Can Things Get For Nikola?

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ust when investors thought things couldn’t get worse for would-be Tesla rival Nikola Motor Company (NASDAQ:NKLA), the cancellation of another big deal has added to the pile-up of bad news that has so far stripped over 80% from its share price since its peak on June 9th. Nikola, the EV truck and hydrogen cell maker that stunned everyone earlier this year, has seen another game-changing deal cancelled, this time with Republic Services, sending share prices down 10% Wednesday, with no reversal clear in after-hours or pre-market trading Thursday.  Nikola cut a…

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Washington Extends Citgo Protection From Creditors

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The U.S. government this week extended the term of a protection measure against Citgo creditors until July next year, Reuters has reported, noting the measure effectively bars creditors from taking shares in Citgo as repayment for a bond that matured on October 27 this year. The bond was issued by Citgo’s parent company, Venezuela’s PDVSA, operating through a U.S.-based entity. Half of Citgo’s U.S. parent’s shares were used as collateral for the debt, sparking outrage among Venezuela’s opposition members, led by Juan Guaido, who tried to take control of the refiner…

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Transparency & Fairness

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A FRIEND’S electricity bill for the month of November 2020 was Rs19,733. Out of this only Rs6,279 was for ‘energy charges’ for electricity that had been consumed in November; the rest was all for taxes and adjustments of one sort or another. There were ‘e-arrears’ of Rs6,812 and a GST of Rs2,225. There are a number of other smaller and/or local charges as well, including one for a ‘TV fee’. The bill also mentioned that there were three different types of extra charges in the e-arrears that were imposed by…

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Dhok Sultan Field: Allocation of additional gas to third party approved by govt

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ISLAMABAD: The Federal Government has approved allocation of additional gas from Dhok Sultan Field to a third-party through auction, official sources told Business Recorder. Dhok Sultan X-1 well in the Dhok Sultan block is located in Jhand. M/s Pakistan Petroleum Limited was operator of this field with share of 75% and GHPL with 25% share as JV. According to M/s Pakistan Petroleum Limited gas production from the Dhok Sultan X-1 had increased to 5.0 MMCFD and requested for an additional gas allocation to third party from Dhok Sultan X-1 during…

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