Year: 2021

The Petroleum Division has asked the Auditor General of Pakistan (AGP) to initiate a forensic audit of top 10 oil marketing companies (OMCs), which were allegedly involved in petrol crisis in June last year. The Petroleum Division has sent a questionnaire to the AGP, asking it to focus on it while conducting the audit of OMCs. The forensic audit will target top 10 OMCs in terms of market share as they account for nearly 95% of motor gasoline (petrol) sales in the country. In a letter sent to the AGP,…

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The first commercial scale plant to recycle all types of plastic using high pressure steam in the U.K. began construction. The plant in the northeast of England will cost 30 million pounds ($41 million) to build and ultimately process 80,000 metric tons a year of plastic waste after its starts operating by the end of 2022, according to a statement from Mura Technology. Globally, around 350 million tons of plastic is produced every year, estimated to rise to 600 million tons over the next 20 years, with only 14% of…

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China agreed to invest $400 billion in Iran over 25 years in exchange for a steady supply of oil to fuel its growing economy under a sweeping economic and security agreement signed on Saturday. The deal could deepen China’s influence in the Middle East and undercut American efforts to keep Iran isolated. But it was not immediately clear how much of the agreement can be implemented while the U.S. dispute with Iran over its nuclear program remains unresolved. President Biden has offered to resume negotiations with Iran over the 2015…

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