Category: Highlights

While many Gulf nations were already working to diversify their economies prior to the coronavirus pandemic, the subsequent economic downturn and collapse in oil prices has meant that governments in the region have had to reassess and – in some cases – accelerate their strategic plans. The implementation of social distancing measures and travel restrictions has impacted activity across all sectors in the region. With economies operating under capacity and global travel severely curtailed for much of the year, there has been a significant drop in demand for – and…

Read More

Final results from Pfizer Inc’s Covid-19 vaccine trial showed its shot had a 95 per cent success rate and two months of safety data, paving the way for the drugmaker to apply for an emergency US authorisation within days, it said on Wednesday. The vaccine’s efficacy rate, the highest of any candidate in late-stage clinical trials so far, was welcomed by experts who had already said that interim results showing Pfizer’s shot was over 90pc effective were very encouraging. Pfizer said there were 170 cases of Covid-19 in its trial…

Read More

KARACHI: Pakistan State Oil Company (PSO), the country’s largest public sector oil marketing company, is accused of succumbing to international oil mafia and vested interests, industry sources said. According to details, PSO regularly conducts spot tenders for supply of motor gasoline and seasonal furnace oil cargoes which are supplied by a small group of globally influential international oil suppliers such as Gunvor, Enoc, Vitol, Petro China, OTI, BB Energy represented by highly powerful local indenting agents. “The current PSO tendering process is designed in a fair way to encourage open…

Read More

An interesting situation has arisen in the United Kingdom, which should draw the attention of all those focused on the “energy transition.” It speaks to the underlying unreliability of renewable energy and, in particular, the current state of green technology. We can learn from Britain’s current struggles that unless or until we drastically improve our alternative energy and electricity storage technology, we are not yet able to engage in a meaning transition. On November 3rd, National Grid, which operates the electrical system in the United Kingdom, issued an “electricity margin notice,” for…

Read More

The UK government will ban sales of gasoline and diesel cars from 2030, the BBC reported, citing Prime Minister Boris Johnson. The move is part of what Johnson has called a green industrial revolution aimed at mitigating climate change while creating new jobs. The plan will receive financing of $5.31 billion (4 billion pounds), which, according to critics, is nowhere near enough for such a large-scale transition. The electrification of transport has been touted as a cornerstone of the world’s transition to a more renewable energy future, and many governments are…

Read More