Day: November 16, 2024

Oil prices on track for weekly loss as Chinese demand wanes

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oil price

HOUSTON: Oil prices slipped on Friday and were bound for a weekly loss as investors digested waning Chinese demand and a possible slowing of the U.S. Federal Reserve’s interest rate cut path. Brent crude futures dropped 71 cents, or 0.98%, to $71.85 a barrel by 10:32 a.m. EDT. U.S. West Texas Intermediate crude futures were down 72 cents, or 1.05%, at $67.98. For the week, Brent is set to fall 2.9% while WTI is set to decline 3.6%. China’s oil refiners in October processed 4.6% less crude than a year…

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PHMA for charging power bill rates on basis of total consumption

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Power project

LAHORE: Central Chairman of Pakistan Hardware Merchants Association Sardar Usman Ghani Central Chairman in a statement has demanded the government to charge electricity bill rates on the basis of total consumption and not on excess consumption, moreover domestic, industrial, commercial and agricultural electricity bills to be received on the basis of uniform rates. He demanded that electricity rates should be reduced by 12 rupees per unit in the current month’s bills, so that the citizens, industries and businesses who have been suffering from inflation for the past two and a…

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سندھ کے سجاول میں گیس کے وسیع ذخائر دریافت

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Gas-Project

صوبائی وزیر ناصر شاہ کا سجاول میں گیس اور کنڈینسیٹ دریافت ہونے کا اعلانمراد علی شاہ کی سندھ بالخصوص سجاول کو مبارکبادکراچی (15 نومبر): صوبائی وزیر برائے توانائی، منصوبہ بندی و ترقیات سید ناصر حسین شاہ نے ضلع سجاول کے شاہ بندر بلاک میں واقع پتیجی-6 ایکسپلوریشن کنویں میں گیس اور کنڈینسیٹ کی ایک بڑی دریافت کا اعلان کردیا جہاں سے یومیہ 11.7 ملین مکعب فٹ(MMSCFD) معیاری گیس اور 198 بیرل فی دن (BPD) کنڈینسیٹ نکل رہا ہے۔ سندھ انرجی ہولڈنگ کمپنی (پرائیویٹ) لمیٹڈ (SEHCL) جو شاہ بندر بلاک میں…

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NEPRA Warns Discos and KE: Address Overbilling or Face Legal Action

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NEPRA-KE

Islamabad: The National Electric Power Regulatory Authority (NEPRA) has issued a stern warning to Distribution Companies (Discos) and K-Electric to resolve consumer overbilling issues or face legal consequences. In a letter, NEPRA referenced its earlier directives from July 30, 2024, where it instructed Discos to adjust bills issued on a pro-rata basis. These adjustments were necessitated when meter readings taken for shorter billing periods led to inflated bills upon subsequent pro-rata calculations. The regulator highlighted that the directives stemmed from findings of an inquiry conducted by NEPRA to safeguard consumer…

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OGDC Completes Drilling of Appraisal Wells in Abu Dhabi Offshore Block

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COP29

BAKU: COP29 has been marked by contentious negotiations as developed and developing nations clash over the New Collective Quantified Goal for climate finance. Progress remains slow, with only limited advances in carbon market standards under Article 6.4 of the Paris Agreement. Disputes over the rushed adoption of these guidelines highlight lingering disagreements on carbon credits, deemed by activists as “false solutions.” Key sticking points include the operationalisation of the Loss and Damage (L&D) Fund. Established at COP27, the fund remains nearly empty, with only $10 million of the $700 million…

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