According to a recently published report, financial firms that publicly support efforts to limit global warming, including some of their environmentally friendly products, have poured billions into the world’s largest oil and gas companies.
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Oil prices rose on Friday but were set for a third straight week of losses after sharp declines earlier in the week on fears about interest rate hikes, U.S. banking sector problems and slowing Chinese demand.Brent crude rose $2.88, or 4 percent, to $75.37 a barrel by 1:03 p.m. ET
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Pakistan has opened a Letter of Credit (LC) in the Bank of China for import of first oil cargo from Russia, which is expected to arrive in the last week of May.
According to sources, the LC has been opened in the Chinese bank in an attempt to make payment for the cargo – the first-ever purchase of Russian oil by Pakistan – in Chinese yuan. Russia will send a ship carrying 100,000 tons of crude oil.
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The Senate Standing Committee on Maritime Affairs was Friday apprised that 91 percent profit from Gwadar Port operations went to Chinese company whereas Pakistan’s share was only 9 percent, however maintenance/dredging of the port was the responsibility of Pakistan.
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Power Division, sources say, has sought an amount of Rs700bn from Finance Division in federal budget 2023-24 to clear overdue payments of IPPs, CPEC IPPs and equity injection. Pakistan is likely to assure the visiting Chinese Foreign Minister Qin Gang that outstanding payments
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In view of Sindh Chief Minister Engr. Syed Murad Ali Shah’s contributions to the cause of Engineering as a whole and specific to the Infrastructure Development Projects and also his services to the public at large in the province.
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