Month: October 2022

Supreme Court Issues Notices To BGC, Balochistan Govt, Others In Reko Diq Case

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The Supreme Court on Tuesday issued notices to Barrick Gold Corporation (BGC), Balochistan government, Oil and Gas Development Company Limited (OGDCL), Pakistan Petroleum Company and others on the presidential reference regarding Reko Diq. A five-member larger bench of the apex court headed by Chief Justice Umar Ata Bandial and comprising Justice Jamal Khan Mandokhail, Justice Aijazul Ahsan, Justice Munib Akhtar and Justice Yahya Afridi heard the presidential reference. President Arif Alvi, on the advice of Prime Minister Shehbaz Sharif, had filed a reference in the Supreme Court to get validation…

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Saudi energy minister says countries should not misuse oil stocks

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Saudi Arabia’s energy minister Prince Abdulaziz bin Salman said on Tuesday some countries were using their emergency stocks to manipulate markets when their purpose should be to mitigate any shortages of supply. The comment appeared to be a criticism of U.S. President Joe Biden’s decision to sell oil from the nation’s emergency oil reserve as he tries to lower gasoline prices ahead of mid-term elections on Nov. 8. “It is my profound duty to make clear to the world that losing (releasing) emergency stocks may be painful in the months…

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China will install 52.6 gigawatts of photovoltaic capacity in the first nine months of 2022

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For the year as a whole, NEA had already declared in June that it was expecting at least 108 gigawatts of photovoltaic capacity to be added. This could almost double the record from 2021 with just under 55 gigawatts. Given the current nine-month additions, the restrictions imposed by the Zero Covid policy seem to jeopardize the achievement of the goal. In view of the complex market situation, AECEA continues to assume that between 80 and 90 gigawatts will be added in China in 2022. This would also be an increase of between 45 and…

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World’s Top Oilfield Service Provider Schlumberger Rebrands To SLB

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Schlumberger (NYSE: SLB) is known as of Monday under its new name—SLB—to reflect its transformation from an oilfield services provider to a global technology company helping the energy transition, the world’s largest oilfield services provider said in a statement today. By rebranding to SLB, the company is dropping the family name of its founders, brothers Conrad and Marcel Schlumberger, who founded the firm in France in the 1920s. “Beginning today, the legacy Schlumberger brand and nearly all of its affiliated brands will become one under the new SLB brand, which introduces a refreshed visual…

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Pakistan proposes to include climate change sector in CPEC

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Pakistan on Monday proposed the inclusion of “Water Resources Management & Climate Change” as new area of cooperation under the framework of China Pakistan Economic Corridor (CPEC) for efficient water resources management, development of climate resilient infrastructure. The proposal was made in the third meeting of Joint Working Group (JWG) between the government of Pakistan and People’s Republic of China was held here on Monday to review the long-term plan of China Pakistan Economic Corridor (CPEC). The meeting was co-chaired by Secretary Ministry of Planning Development & Special Initiatives Syed…

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