Category: Highlights

WWF-Pakistan on Thursday appealed to the government to declare Churna Island a Marine Protected Area (MPA) after coral bleaching was reported in some areas of the island. This is the first time that the phenomenon has been reported in Pakistan. According to a statement released by the WWF-Pakistan, a PADI certified driver, Khizar Sharif, while on a diving expedition around the north-eastern part of Churna Island in the last week of October, noticed serious bleaching of corals. In some areas, large patches of bleaching were observed. WWF-Pakistan termed the bleaching…

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Supermajors ExxonMobil and Total are renegotiating a natural gas resource sharing deal for their respective liquefied natural gas (LNG) projects offshore Mozambique, Reuters reports, citing sources with knowledge of the talks. Exxon and Total are leading the Rovuma LNG and the Mozambique LNG projects, respectively, and are looking to renegotiate a 2015 deal on using resources from the basins that would supply gas to their respective projects. Both oil majors, who are looking to cut project costs, want to use the resources from a shared field first because they are…

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A combination of sharply weaker oil prices, inconsistent regulation, the COVID-19 pandemic, and constant conflict in the Amazon where most of Peru’s onshore oil industry is located has triggered a crisis that has brought the industry to the brink of collapse. This was recently recognized by Peru’s National Society of Mining, Oil, and Energy (SNMPE – Spanish initials) which released a media statement (Spanish) asking the central government to implement measures to reverse the crisis. Lima has long downplayed Peru’s considerable oil potential in preference to advancing the Andean country’s…

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ISLAMABAD: The privatisation of Re-gasified Liquefied Natural Gas (RLNG)-fired power plants is reportedly in hot water due to IPPs current issues and inordinate delay in other prerequisites, sources close to Minister for Privatisation told Business Recorder. Sharing details, sources said transaction structure for the privatisation of two RLNG power plants established by National Power Parks Management Company Limited (NPPMCL) was approved by the Cabinet Committee on Privatisation (CCoP) in its meeting held on September 18, 2019. However, Expressions of Interest (EoIs) for the bidders were published after a decision of…

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Moscow, (APP – UrduPoint / Pakistan Point News – 26th Nov, 2020 ) :Russian oil giant Rosneft on Wednesday announced the start of operations for its giant Vostok oil project in the Arctic, part of the country’s strategic energy plan which has been criticised by environmentalists. “It is with great pleasure that I inform you of the start of the practical implementation of the project,” Rosneft chief executive Igor Sechin told President Vladimir Putin at a meeting in Moscow. He thanked Putin, with whom he has close relations, for the…

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