Day: May 12, 2022

More Oil From U.S. Strategic Petroleum Reserve Heads To Europe

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Europe is set to receive more cargoes of U.S. crude from the Strategic Petroleum Reserve (SPR) as the European Union discusses an oil embargo on Russia and looks to reduce reliance on Russian oil, Bloomberg reported on Thursday, citing tanker-tracking data and sources with knowledge of the shipments. In recent weeks, Europe has increased purchases of U.S. crude as it considers the details of a ban on imports of Russian crude and refined products. A week after the European Commission officially proposed a full ban on Russian crude and oil…

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A Ban On Excessive Gasoline Prices Heading To Congress For Vote

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A piece of legislation that would ban excessive gasoline prices is headed for a vote in Congress next week, House Speaker Nancy Pelosi said on Thursday afternoon. The bill, known as the Price Gouging Prevention Act of 2022 and introduced by Democrat senators Tammy Baldwin, Elizabeth Warren, and Democrat Representative Jan Schakowsky, comes in response to what Pelosi calls “a major exploitation” of gasoline consumers. High gasoline prices continue to plague the current administration due to a well-known history of high gasoline prices dogging incumbents in the United States. So…

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Russia Could Cut Gas Supplies To Finland Tomorrow

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Hours after Moscow warned there would be retaliation for Helsinki’s announcement that it is applying for NATO membership, Finnish media reports that the Kremlin threatened to cut the country off from Russian gas by Friday. Citing unnamed sources, Finland’s Iltalehti reported the Russian warning to politicians, who refrained from specific comment. Prior to this warning, the local media outlet noted expectations that Finland would be cut off from Russian gas after May 23rd, when its next contract payment with Gazprom comes due and the country refuses to pay in rubles.…

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The Civil Aviation Authority (CAA) has decided to convert all Pakistan International Airports into solar power in phases.

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According to details, the aviation authority has decided to switch Karachi’s Jinnah International Airport to solar energy and has directed authorities concerned to prepare a feasibility plan in this connection. DG Civil Aviation Authority (CAA) Khaqan Murtaza said the solar energy project will save millions of rupees in terms of expenditure. “CAA is working on a plan to switch Karachi airport to solar energy,” he said, adding that country’s other international airports would be converted into solar power in second phase

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Pakistan exports its first SUV class vehicle

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Pakistan has exported its first vehicle – made by Master Changan Motors – under the new Auto Industry Development and Export Policy (AIDEP 2021-26), according to a press release issued by the company on Thursday. The press release stated that under the new auto policy, all OEMs would require to initiate vehicle exports to help develop the local industry and expand the export capability of the country. The Changan Oshan X7, which is the country’s first export unit under the new policy, is the first vehicle to be launched through…

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