Third spell of heavy rain, thunderstorm to hit Karachi on July 26

The thunderstorms and gusts of winds before heavy rainfall are expected in the metropolis between July 26 and July 27. Photo: FilePakistan Meteorological Department (PMD) on Friday predicted the third spell of monsoon in Karachi where thunderstorms and gusts of winds before heavy rainfall are expected in the metropolis between July 26 and July 27. According to the met department chief Sardar Sarfaraz, a low-pressure area is expected in India’s Gujrat on July 24 that would enter Pakistan through Indian Rann of Kutch affecting the sea’s southwestern wind. Earlier on…

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Petroleum Companies Refuse to Cooperate With Investigation on Recent Petrol Crisis

Chief Executive Officers (CEOs) of multiple petroleum companies nominated in the petrol crisis case have refused to appear before the investigation team carrying out the probe. According to details, a district and sessions court in Karachi is hearing a case on the recent artificial shortage, hoarding, and black marketing of petroleum products. The FIR of the case was lodged in Jackson police station by member fuel price committee of the petroleum division at the directives of DG Oil. CEOs of major oil companies including CEO of Gas & Oil (GO)…

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Fairtrade renewable energy: shedding light on clean energy’s dirty secrets

The world is coming together on renewable energy. Trust in technology such as solar and wind power generation is increasingly reflected in the investment it receives from governments around the globe. In the UK, fairness to the consumer and affordability are at centre stage as the country look to eradicate fuel poverty on the road to a zero-carbon future. The Scottish government is considering a not-for-profit energy utility to compensate the consumer by reducing the amount of energy trading in the private sector. Elsewhere, an analysis of the value of…

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Increase in power tariffs approved by NEPRA

ISLAMABAD: National Electric Power Regulatory Authority (Nepra) on Thursday approved increase in electricity tariffs of Discos for five months and reduction for three months under monthly fuel price adjustment mechanism to be passed on to consumers in August and September 2020. For November, 2019, Nepra approved an increase of Re 0.9824 per unit with positive financial impact of Rs 7.082 billion, for December 2019, Rs 1.8880 per unit, with a financial impact of Rs 13.800 billion, for January, 2020, Re 0.9380 per unit, positive impact Rs 7.010 billion, for February…

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K-Electric’s licence should be suspended: SHC

The Sindh High Court (SHC) on Friday directed the K-Electric (KE) to end unscheduled load-shedding and remove illegal connections from across the city. A two-member bench, comprising Justice Khadim Hussain M Shaikh and Justice Arshad Hussain Khan, was hearing a plea seeking the disconnection of illegal connections and an end to power cuts in exempted areas. Justice Shaikh observed that everyone in Karachi was complaining about the power utility, adding that the lives of Karachi’s people had been rendered miserable by illegal connections and unannounced power outages. “In such a…

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Schlumberger Books Second Consecutive Loss Amid Shale Bust

The world’s largest oilfield services provider, Schlumberger (NYSE:SLB), reported on Friday a second straight quarterly loss on the back of a dramatic revenue slump in U.S. shale and asset impairment charges in what “has probably been the most challenging quarter in past decades,” as CEO Olivier Le Peuch said. The company also announced it would get rid of 21,000 jobs as oil producers rein in spending. Schlumberger reported on Friday a net loss of US$3.434 billion for the second quarter, after a US$7.376-billion loss for Q1, which was the result…

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Ukraine Opposes U.S. LNG Pricing Formula

Ukraine’s state-held gas firm Naftogaz is reportedly opposed to the pricing formula for U.S. liquefied natural gas (LNG) it could receive under a long-term contract, while there isn’t enough infrastructure ready to ship American LNG from Poland into Ukraine, analysts have told DW. The U.S. is eager to supply its LNG to central and eastern European markets, especially Poland and Ukraine, arguing that American gas is superior to gas from Russia, which binds economic contracts with politics. However, talks between Louisiana Natural Gas Exports Inc and Ukraine’s Naftogaz have stalled,…

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One of the oldest businesses on the internet just got sold for $9 billion

Norway’s Adevinta is buying eBay’s (EBAY) classified ads business for $9.2 billion to create the world’s largest online classifieds company.In the age of Google (GOOGL)and Facebook (FB), classifieds aren’t exactly a mammoth business: They made up only about 3% of the $125 billion internet advertising market in 2019, according to the Interactive Advertising Bureau, the global industry body for digital advertising.But there was a day when Craigslist and the company that became eBay Classifieds were among the biggest advertising platforms on the newfangled World Wide Web.EBay Classifieds Group got its…

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Apple promises to become fully carbon-neutral by 2030

Apple has pledged to become a carbon-neutral operation by 2030, a commitment that covers its entire supply chain and the lifecycle of all its products, including the electricity consumed in their use. The company is aiming to achieve the goal by means including: Low-carbon product design, using recycled materials where possible, and developing new techniques such as a carbon-free aluminium smelting process. Use of renewable energy, including projects funded by and built for Apple directly, which in total provide 1GW of capacity to the company’s corporate operations. Carbon removal, through forest…

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KenGen eyes floating solar plants in three hydropower dams

State-owned Kenya Electricity Generating Company (KenGen) is mulling a floating solar energy installation in three of its key hydropower dams, which experts say is a cheaper option for renewable energy than land-based solar farms. Norwegian firm Multiconsult said it will conduct a pre-feasibility study for floating solar PV (F-PV) potential on Kamburu, Kiambere and Turkwell reservoirs. Under the study funded by the German development bank KfW, Multiconsult said it will review the power infrastructure at the sites, assess hydro turbines characteristics, operation of the reservoirs, water flow patterns and power…

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