Category: Highlights

Chinese authorities have asked that state companies reduce their energy consumption and carbon dioxide emissions by 2025 compared to 2020 levels as part of China’s plan to have its CO2 emissions peak before the end of this decade. State-controlled firms in China must slash their energy consumption per 10,000 yuan ($1,570) of output value by 2025 to 15 percent below the levels seen in 2020, Reuters quoted the State Assets Supervision and Administration Commission (SASAC) as saying in a statement on Thursday. Carbon dioxide emissions at state-held firms per 10,000 yuan of…

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Chinese state-owned CNOOC’s recent LNG term supply deal with US supplier Venture Global marks at least the 22nd term supply agreement signed by a northeast Asian buyer this year, reflecting a growing trend among the region’s LNG buyers to move away from spot transactions towards term deals. This indicates a radical shift from just about a year earlier, when buyers shied away from long, seemingly rigid term commitments and swarmed into the spot market, which offered relatively more flexible and enticing options to meet their LNG requirements. But the tables…

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Federal Minister for Planning, Devel­opment and Special Initi­atives Asad Umar has said that Pakistan has simplified the process of investment in Special Economic Zones (SEZs) not only for Chinese companies but also for other international companies. Speaking at a ceremony held for the distribution of awards among 27 outstanding Pakistani staff of CPEC projects at the Chinese Embassy, he said two days ago the government had approved the simplified investment process for industries and companies willing to invest and operate in the SEZs. Besides, he said, the federal and provincial…

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Barrister Murtaza Wahab announced on Wednesday that the Sindh government will buy 240 buses to resolve the transport woes of the city, and 50 of them will arrive by January 31. Wahab, who is the city’s administrator, the provincial government’s spokesman and the chief minister’s law adviser, also made the assurance that the Supreme Court’s decision on the Askari Park will be implemented. “A special water supply line is being laid from Hub to facilitate the residents of District West. The second Marigold Festival will be held at the Frere…

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Saudi Arabia could cut the official selling price for oil to Asian buyers in February after raising them substantially this month. According to a Reuters report citing industry insiders and poll data, the Kingdom could slash the prices for all its export grades by as much as $1 per barrel and more, which would push these prices to their lowest in three to four months. Earlier this month, Saudi Arabia raised its official selling prices for oil to Asia by $0.60 per barrel, which brought them $3.30 per barrel above…

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