Year: 2022

Italy’s Eni joins giant Qatar gas project

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Italian company Eni on Sunday joined Qatar Energy’s $28.75b project to expand production from the world’s biggest natural gas field, days after Russia slashed supplies to Italy. Eni will own a stake of just over 3pc in the North Field East project, Qatar Energy’s CEO told a signing ceremony in Doha. Qatar announced last week that France’s TotalEnergies will be its first, and largest, foreign partner on the development, with a 6.25pc share. An unknown number of companies are also set to be named. “Today I’m pleased… to announce the…

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Capital needs sewage treatment plant to protect ecology

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Once known for its scenic beauty, habitat and natural streams, the federal capital has been fast losing its elegance due to unruly population and housing societies growth threatening its ecosystem and serenity. Its natural streams flowing out of perennial and seasonal springs of the Margalla Hills have turned into filthy and stinky drains as city manager had failed to put in place proper waste disposal mechanism. Rapid growth in population and massive construction in catchment areas continued to pollute streams emanating unpleasant odor throughout the city, besides turning brooks into…

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Govt to install solar water plants in Cholistan: Hamza

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Chief Minister Punjab Hamza Shahbaz on Saturday presided over a meeting for a proposed programme to install solar water plants in the remote areas of Cholistan. Commissioner Bahawalpur division gave a briefing with regard to installing solar water plants in Cholistan. The proposed project is believed to increase rain In Cholistan by means of latest technology was also reviewed. The CM while addressing the meeting revealed that the government has chalked out a programme to install solar water plants in the remote areas of Cholistan, adding that human beings along…

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OPEC+ Mulls What To Do After The Oil Pact Ends

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Delegates from OPEC+ are trying to decide what to do when the oil production pact ends in August, Bloomberg reported on Friday. The pact is faced with numerous uncertainties and difficult situations—not the least of which is its relationship with one of the top members of the group—Russia. Saudi Arabia has stressed that Russia is an integral part of OPEC+ despite Russia’s aggression in Ukraine, pointing out that OPEC+ is not an alliance formed out of politics, but one of market management. Saudi Arabia—and other OPEC members—must weigh the benefits…

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Global LNG: Asia spot prices jump, tracking sharp rise in Europe

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Asian spot liquefied natural gas (LNG) prices jumped this week, tracking a rise in European gas prices, on further market tightening as an extended shutdown at a U.S. export plant prompted buying by Japan and South Korea. The average LNG price for August delivery into north-east Asia was estimated at $36.50 per million British thermal units (mmBtu), up $13.00 or 55.1% from the previous week, industry sources said. Freeport LNG, the operator of one of the largest U.S. export plants, said on Tuesday that last week’s fire damage to its…

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