Paris: While images of massive fires and large-scale logging in the Amazon often dominate discussions on deforestation, new research shows that small-scale rainforest clearing is causing a disproportionately large impact on the global climate. A study published in the journal Nature on Wednesday found that forest clearances of less than two hectares, though representing only a small fraction of total deforestation, account for 56 per cent of carbon losses in the world’s tropical rainforests over the past three decades. “These quieter, smaller acts of forest destruction are responsible for most…
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Fortune 500 Chinese Firm Xiamen C&D Shows Strong Interest in Investing in Pakistan
Islamabad: Special Assistant to the Prime Minister (SAPM) Haroon Akhtar Khan on Wednesday held a meeting with representatives of Xiamen C&D, a Fortune 500 Chinese conglomerate, which expressed keen interest in making large-scale investments in Pakistan. The meeting was also attended by Chairman Export Processing Zones Authority (EPZA) Freedoon Akram Sheikh, according to an official statement. During the discussion, Xiamen C&D showed interest in investing in Pakistan’s automobile, steel and iron sectors. Haroon Akhtar Khan described the company as a globally renowned enterprise with a strong footprint across international supply…
Read MoreGovt Approves Fresh Mari Gas Allocation for Major Fertiliser Plants
Islamabad: The federal government has approved the fresh allocation and pricing of natural gas from the Ghazij and Shawal discoveries in the Mari field for key fertiliser manufacturers, Mari Energies Limited informed on Thursday. In a notice to the Pakistan Stock Exchange (PSX), the listed exploration and production company said gas volumes have been earmarked for Fauji Fertilizer Company’s Port Qasim plant, Fatima Fertilizer’s Sheikhupura facility, and Agritech’s Daud Khel unit. Under the approved allocation, FFC’s Port Qasim plant will receive the largest share, with 104 mmcfd of raw gas,…
Read MoreUS Seeks Indefinite Control of Venezuelan Oil Sales to Push Political and Economic Change
Washington: The United States has said it needs to control Venezuela’s oil sales and revenues indefinitely to stabilise the country’s economy, rebuild its energy sector and ensure Caracas acts in line with American interests, according to senior US officials. The remarks underline the central role of crude oil in President Donald Trump’s Venezuela strategy, following the abduction and removal of former leader Nicolás Maduro in a US operation in Caracas last weekend. Speaking at the Goldman Sachs Energy, CleanTech & Utilities Conference in Miami, US Energy Secretary Chris Wright said…
Read MoreCabinet Blocks Increase in Fuel Margins, Links Relief to Full Digitisation
Islamabad: The federal cabinet has reportedly halted the proposed increase in profit margins for oil marketing companies (OMCs) and petroleum dealers, earlier approved by the Economic Coordination Committee (ECC), and linked any future increase to complete digitisation of the petroleum supply chain. According to informed sources, the cabinet—chaired by Prime Minister Shehbaz Sharif—did not endorse the ECC’s decision of December 9 to allow an additional Rs2.56 per litre increase on petrol and diesel in two phases. Instead, the prime minister directed that implementation of the increase be made conditional on…
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