Day: December 30, 2021

China Mandates State Companies To Reduce Energy Consumption

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Chinese authorities have asked that state companies reduce their energy consumption and carbon dioxide emissions by 2025 compared to 2020 levels as part of China’s plan to have its CO2 emissions peak before the end of this decade. State-controlled firms in China must slash their energy consumption per 10,000 yuan ($1,570) of output value by 2025 to 15 percent below the levels seen in 2020, Reuters quoted the State Assets Supervision and Administration Commission (SASAC) as saying in a statement on Thursday. Carbon dioxide emissions at state-held firms per 10,000 yuan of…

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Viewpoint: LNG Term deals in focus amid volatile year

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Chinese state-owned CNOOC’s recent LNG term supply deal with US supplier Venture Global marks at least the 22nd term supply agreement signed by a northeast Asian buyer this year, reflecting a growing trend among the region’s LNG buyers to move away from spot transactions towards term deals. This indicates a radical shift from just about a year earlier, when buyers shied away from long, seemingly rigid term commitments and swarmed into the spot market, which offered relatively more flexible and enticing options to meet their LNG requirements. But the tables…

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Investment process in special zones simplified, says Asad Umar

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Federal Minister for Planning, Devel­opment and Special Initi­atives Asad Umar has said that Pakistan has simplified the process of investment in Special Economic Zones (SEZs) not only for Chinese companies but also for other international companies. Speaking at a ceremony held for the distribution of awards among 27 outstanding Pakistani staff of CPEC projects at the Chinese Embassy, he said two days ago the government had approved the simplified investment process for industries and companies willing to invest and operate in the SEZs. Besides, he said, the federal and provincial…

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50 Buses for Karachi to Arrive by January 31, says Wahab

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Barrister Murtaza Wahab announced on Wednesday that the Sindh government will buy 240 buses to resolve the transport woes of the city, and 50 of them will arrive by January 31. Wahab, who is the city’s administrator, the provincial government’s spokesman and the chief minister’s law adviser, also made the assurance that the Supreme Court’s decision on the Askari Park will be implemented. “A special water supply line is being laid from Hub to facilitate the residents of District West. The second Marigold Festival will be held at the Frere…

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Shares acquisition: KE receives fresh PAI from Shanghai Electric

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K-Electric has received “withdrawal” of Public Announcement of Intention (PAI) for acquisition of up to 66.40 percent voting shares of K-Electric Limited by Shanghai Electric Power Company Limited. With reference to the Public Announcement of Intention (PAI) made by Shanghai Electric Power Company Limited (acquirer) dated June 30, 2020 to directly or indirectly acquire up to 18,335,542,678 ordinary shares of K-Electric Limited (the target company) representing 66.40 percent of the total issued share capital of the target company, subject to receipt of regulatory and other approvals (transaction), Arif Habib Limited,…

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