Year: 2020

OPEC+ explores a three to six month delay on oil output hikes

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Talks between OPEC and its allies are zeroing in on a delay to next year’s planned oil-output increase of three to six months, according to several delegates. Saudi Arabia and Russia, leaders of the 23-nation coalition, have already indicated publicly that they are thinking twice about easing production cuts in January as the resurgent pandemic hits fuel demand. The presidents of both Russia and the Organization of Petroleum Exporting Countries have even mentioned the option of cutting production deeper. This idea hasn’t garnered widespread support so far among other members,…

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Ogra slashes losses allowed to SNGPL, SSGC for regasified LNG

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ISLAMABAD: In a turning point in the pricing of regasified liquefied natural gas (RLNG), the Oil and Gas Regulatory Authority (Ogra) on Wednesday reduced to about 6.3 per cent — from about 17pc in the past — the cost of losses in tariff through a majority decision. In doing so, the regulator also notified the RLNG price for last four months — August to November — that had been withheld due to lack of Ogra quorum and disagreement among two remaining members. The decision is estimated to have provided about…

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Pfizer, BioNtech’s coronavirus vaccine not suitable for Pakistan: Dr Atta ur Rehman

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Chairman of Prime Minister’s Taskforce on Science and Technology Dr Atta ur Rehman on Tuesday remarked that the Pfizer vaccine, being celebrated worldwide, is not suitable for Pakistan. “This vaccine is not suitable for Pakistan in my opinion,” the former head of the HEC told Geo Pakistan, and warned that it was “too early to celebrate” the news regarding the Pfizer vaccine. “We should not think much about this vaccine, instead focus on other vaccines that are being developed and have seen similar results but havn’t been announced with fanfare.…

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CPEC and China’s dual circulation approach

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The 10th Joint Cooperation Committee (JCC) meeting on CPEC is about to happen. The agenda is being finalised and preparations are in full swing. The Government of Pakistan intends to discuss a host of infrastructure projects during the meeting, besides the three priority special economic zones. But in the meanwhile, some interesting developments are taking place globally and regionally that will shape China’s economic agenda in the years to come and as a corollary will have significant bearing on Pak-China relations. It is therefore important to take stock of these developments…

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Pakistan can save $5bn by scaling up renewable energy: WB

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A World Bank (WB) study launched Tuesday suggests that a major scale-up of variant renewable energy (VRE) could help Pakistan save US$5 billion in costs over the next 20 years, mainly from reduced fuel consumption. “Pakistan should quickly implement a major scale-up of solar and wind generation,” the report advised. The study, titled Variable Renewable Energy (VRE) Integration and Planning, finds that Pakistan needs to urgently implement a major expansion of solar and wind “variable renewable energy”, to achieve a share of at least 30per cent of total capacity by…

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